Hi Amy, We currently own a house with a homeowners policy. At first, that agent said that he could get us a Builders Risk policy on the new house, but then (two months later when I called and said where's my binder?) he came back and said his underwriter refused. Yes, I will be looking for a new agent for that policy here soon. :) So, I am now having to work the yellow pages and have yet to find someone who will write a Builder Risk policy for a house that is 80%+ complete. I seriously doubt that a Homeowner's Policy will cover a lame sub who does something stupid causing the house to burn down. I have paid cash for this house and that's a loss I cannot afford, and the reason I need to find a solution! Thanks, Jerry

Thanks jeff. I will be making some cash. i was lucky enough to purchase the last day of 1999 New Year's eve closing. lol for $120,000. Two neighbors recently sold their houses for $400,000+. Idon't know if we'll get that because they are different types of houses, but we did totally rehab the house and of course put more money into it while doing so. I guess the final numbers will allow us to figure if we want to get into a bigger home. This one is 1500sf. (ouch) and Possibly a better neighborhood. When rehabbing, we knew we wouldn't get our money back for the improvements, but I'm not one to not give myself what I want in the meantime. We didn't know how long we'd stay ther, so we built it comfortably and customized for us. Little things like central vac, Upgraded insulation, whole house audio video, intercom system throughout the house,underfloor radiant heating, custom other things. Those were for us and not for any resale reasons. No one has these things around us. I don't expect anything in return in terms of a higher price, but I will take an easier time selling it for comparable prices. I'm sure something would be easier for those upgrades. Whether it's price or ease of selling.We have thoroughly enjoyed the house and don't mind to keep doing it. I believe if more people did that, there wouldn't be such a panic for most people. but anyway... I would just like to know my options and possibly build from the ground up next time around, and a little bigger.

I agree w/the others who cautioned to research complaints on builders and also cautioned about using the builder's lender. Pressuring appraisers to meet the number is how builders and others who had a vested interest in it, kept prices inflating during the bubble. These houses were never worth what they were selling for during the bubble, it was an illusion that burned many people along w/the foolish lenders. Last but not least, do not make the mistake of dismissing internet complaints you will find as baloney. MOST complaints about builders and their warranties are now hidden in private records due to mandatory arbitration clauses in builder contracts and warranty policies; arbitration prevents suing which is a public record, so no public record exists on numerous complaints. The internet can be the only way to find out about some, when people who are fed up with their lack of recourse post complaints to warn others. Check out google.com's search engine (I know that's obvious to most people but I try not to assume), also hadd.com and hobb.org I can't imagine anyone would go thru w/this sale after thoroughly checking this out. Don't fall for this attempt to sell you a house that's not worth what you will owe on it.

I am having a house built. The foundation was poured in March of 2018. I noticed that the basement walls and floor are wet in two areas for the past three weeks. The area did receive a good amount of rain over this period. The house has an exterior drainage system that drains by gravity to the back of the property into a drainage pipe that leads to the detention basin. The exterior basement walls had tar applied to them as well as a membrane to keep water out. There is also a sump pump in the basement that has not been turned on during the last three weeks. The builder turned the sump pump on and it shut off in 15 seconds because there was no water in the sump hole. The builder claims that once the gutter system and final grading is done (grading looked ok to me), the walls and floor will not get wet anymore and basement will be dry in all areas. The builder also stated that since the sump pump did not have to pump any water, this is proof the exterior drainage system is working. Once I close, the limited warranty for the basement only kicks in if there is water on the floor. I am not covered for wet (damp) walls or floor. My opinion is that the basement should be dry now because of all the basement waterproofing that was done regardless of the amount of rain. I think there is a problem with the exterior drainage system or cracks in the walls or floor that is letting moisture seep in. I also have noticed a hairline crack on the floor in another area of the basement. The gutter system and final grading will help the situation, but if there are periods of heavy rain in the future, I think this water problem will come back. The wet walls and floor now show a weakness in the water management system for the house. What should be my course of action? Am I paranoid? Should I take the builder's word?