My wife and I went to the Trail of the Marines to discuss the purchase of a Sheffield home with a purchase price of 192000. Mr Valentine said the owner wanted 195000 and he would use 3000 towards closing cost. I am already preapproved with another bank for a certain, but I think he raised the price to get me to use FTX.
But any way, when it got to the Earnest money, he had a contract written up. I told him that if I could not get a better with their finance company FTX, that would back out of the deal. So he agreed and wrote it down on an Addendum that stated. "if either party do not agree on a financing that the earnest would be returned".
To me, the either party was to ambigous, so I calmly ask him to add " the agreeing parties are the buyer and the finance company and not First Texas Homes. This guy blew a lid and begin to curse. I was sales person and that was a clear indication that he was lying to me.
On the contract it stated that the $1000 is non refundable and on the addendum it was refundable. Did not make any sense to me. I was actually reading the entire contract because I buying on my own and the books that I ve read told me to do so. He was so angry that I was reading that he stormed out of the room and started to smoke a cigarette.
He said " well if you are going to read the entire contract than you are going to have to take it home because I leaving at 7". I thought this guy was going crazy.. Oh yeah, by the way my wife was there as a witness. One one occasion, his assistant stated "ok we can right that on there" and he exploded at the assistant ( a much older gentleman around 65-70 yr old). I thought that was weird. Well he go so mad that he took the contract and turned away.
Now, I know that First Tx Homes are a ripoff. I've been negotiating with them from Dallas to Ft worth because I am the type of person who do their homework before making a big purchase. I know also that some of those spec homes have been on these lots for over a year.
First Texas Homes reps are use to impulse buyers. Especially with the decline in the market, most of them have not faced reality and still trying to get high end prices for homes that are at least 25% less than the value on the list. Also if the home was on the lot for a year, is the warranty over? Why would you sell a 3700sf home of one model way less than a 3700sf of another model with the same upgrades? They are under tremendous pressure to sell. Trust me some will be unemployed in about 3 months if they don't get real.