Los Altos - Construction Issue

[irvinehomeshopper]

he could not even sell the home if he wanted to because of the no sell clause in 12-18 months he signed.

Is this to be taken sarcastically or that's a legit thing in this tract?

te author=irvinehomeshopper link=topic=2301.msg32008#msg32008 date=1327601278] he could not even sell the home if he wanted to because of the no sell clause in 12-18 months he signed.

Is this to be taken sarcastically or that's a legit thing in this tract?
[/quote]

There is a no compete sale clause. The builder does not want a phase 1 homeowner to sell his home that is competing with the builder trying to sell phase 6. The homeowners for sale sign is a negative image when a prospective buyer see it by driving through the neighborhood. Unless the situation is due to a divorce or a loss of employment there is no exception.

 

[rkp]

There is a no compete sale clause. The builder does not want a phase 1 homeowner to sell his home that is competing with the builder trying to sell phase 6. The homeowners for sale sign is a negative image when a prospective buyer see it by driving through the neighborhood. Unless the situation is due to a divorce or a loss of employment there is no exception.

didnt really answer the question.  are you speculating that is the case or do you know for a fact that builders put that in.  can you provide examples of communities where that is the case?

 

[irvinehomeowner]

I can confirm IHS' post.

We came close to going into escrow in pre-2010 Home Collection and they had a 12-month no sale clause (there were outs of course).

 

[irvinehomeshopper]

I have a hunch that few buyers actually read every page of the purchase contractual agreement. This no sale clause is standard for all for sale projects in Irvine. Even my pet knows it.

 

[irvinehomeowner]

Interestingly enough, the salespeople I talked to always made sure to point it out.

The builders I know that had it were Standard Pacific and William Lyon.