New Construction--Sample: Fill & Download for Free

About 4 years ago I decided to install a small wall in my back yard. I wanted to fill in a large bermed area so I could plant some trees and build a garden. The proposed wall was only 2.5 feet tall and it is 66 feet long. It is made out of a fancy sort of cinder block. Sort of a brownish color with a bit of shape to it. I guessed that it would cost about $4,000 - $5,000. I got a few names and asked three contractors to come out for an estimate. I live in a nice neighborhood which, at that point was brand new. All brand new construction.It’s not uncommon for services and contractors to charge more in nicer neighborhoods. I have always lived in marginal neighborhoods and I notice the increases all the time. For instance, the original quote for a security system install was 6x the cost of the install on my previous system. Its a bigger house but not that much bigger! Once I had a plumber out to setup a sink in my laundry room. Pre-plumbed and all in place. Literally just had to connect the H/C water and the drain. He wanted $415. I said “I could absolutely do this myself and I know it’s not more than. $100 job. $150”. He wouldn’t budge and I asked him to leave. Paid a $65 service call and in the memo line of the check I wrote ‘DICKS’. They sent my check back to me! Got it done for $115 from someone else. I bet I’ve gone through this sort of thing 15 or 20 times. It’s pretty lame and it happens all the time.So anywayThe first guy I called about the wall comes out, does some measuring and says $11,500! I say “wow. That’s pretty hefty and way out of my budget for this. How close can you get to $4,500?” And immediately, without flinching, he comes down to $5,500. So that extra $6,000 was 100% thirst for cash. He didn’t come down to $8,000 and then $7,000 and then $5,500. He just dropped the cost by more than half. Greedy MFer! And desperate obviously. I didn’t really like this guy and when he came down by $6K Two things happened: 1st I knew that this was a less than $5,000 job and 2nd I knew I would never hire this dude.Guy #2 comes out and says $8,800. I tell him my budget constraint and he won’t budge. I’m not sure how I feel about this. Should I admire him for standing his ground? There’s no way this is a $9,000 job but he just sat there and stared at me. Didn’t flinch. I wait a few days to see if he’ll change his mind and he does not. I liked this guy and his work samples were great. I still felt like nearly $9K was a bit much for a 2.5 ft wall. Then I started to have doubts: maybe this is a $9,000 job. Shit. Living here is going to be pricey. Then I talked myself off of the ledge and remembered what happened with the 1st dude.A week later another guy comes out and says “$4,300 and I can start tomorrow.” SOLD!!!! I was so happy with the finished product that I tipped each dude on his crew $100. Now every time I look at that wall I think about how that first guy was trying to fleece me for $6,000.

I came close to living in one.It was at the height of the housing crash, so many people underwater, many foreclosures, and this huge new shiny development going up.One of the farmers sold 300 acres that was being developed.My wife was interested in the new construction so we decided to check it out.We stopped in the model home, they showed us the plans for the three types of homes being built showed us what standard customization we could have and finally said and it's all going to be in a HOA.I asked if we could drive about and check out the sites and the constitution as we may want to invest in a lot to build on.Sure sure go ahead.So we looked at several houses under varing stages of construction I then popped into the sample house and asked if I could speak with the builder. The woman said she was his agent and could handle anything. I insisted as I wanted custom customizations.The builder pops over, and I ask him about model #3 could this be.modified to have an additional garage bay. No, he explained since the houses were on .5 acre they were already at the size permitted by the county.I asked could they do it if I also bought the adjacent lot.Sure he says.I also told him I didn't want the propane fireplace but would love a good woodburning stove or a pellet stove where the propane insert went so I wanted to know if they could they do that too.Sure!I also wanted to add some features to the design from cookie cutter #2So here I am ready to plunk down 400k on houses that were slated to go for about 325k. For my customizations and additional lot.The builder was all.smiles as he was having trouble selling the properties because of the housing bust.Then i mentioned the HOA and said that for me was going to be the deal breaker. I don't want to be part of the HOA.He said if it'll help you make the deal, I'll specifically exclude yours from the HOA, his house in the development was also going to also be excluded and that he'd put mine next to his on the end of the cul-de-sac (he was taking 3 lots and adding a 4 car) so it would wind up that only the 2 of us would be on the cul-de-sac.Sweet deal.I told them we'd be back to do paperwork next week after I could have a lawyer look over the contracts.Turns out between then and when we were supposed to come back my wife was diagnosed with cancer and we decided it would be best to stay where we were with the prospect of all the medical bills.However the builder apparently liked the idea of only 2 people on the cul-de-sac and took a variation of what I laid out and built it there next to his house, neither of these homes are in the HOA, but this 500 or so housing development HOA is still required to do the lawn manitinence on those 2 properties common areas as well as do the snow removal on the road on the cul-de-sac.Unfortunately I missed a sweet deal of an opportunity. It would have been fun in retirement dealing with the HOA Karen's.Imagine them saying we were all in the HOA and me saying to them the builder specifically excluded his and my house in perpetuity. Then pointing over to his house and say why don't you go ask him.

Yes, you do.Asking this question means that you do not have the resources to absorb a major financial mistake. Newly established condominiums and new construction can be fraught with peril for the unwary. Not using an experienced lawyer is "penny-wise but pound foolish."Was the condominium legally established in accordance with state law? How many units have been sold? What is the proposed operating budget and is it sufficient to cover all costs? Is there a reserve fund and is it sufficient to cover unforeseen costs? What are the proposed covenants and restrictions? How will the condominium be managed and insured?This is just a small sample of the dozens of critical issues that a good attorney will review before allowing you to buy your condo unit, especially in a newly formed condominium. Don't take unnecessary risks and shortcuts.