A web user asks, I signed to purchase a home for $700,000. House will not be done until April 2007. Between now and then, if the prices of the homes drop, will I be obligated to pay what I signed up for or do I only finance what the house is worth at the time?
FYI – contract was signed with a builder. You can not qualify for an amount more than the appraised value, shouldn’t this be reason for them to take the price down? Also, since it is quickly becoming a buyers market, shouldn’t I be able to leverage that and negotiate with the builder? Any suggestions on how I can do that?

Can you help them out? Post your advice!

Related Items:

1. Are there any programs to finance debt into a new home purchase?
2. How do the Cash for your home offers work?
3. How do I gauge how many shares of a stock I can purchase or sell without effecting it’s price?
4. I have a Credit Card debt with a collection agency, can I request a signed copy of the contract before paying?
5. How do I finance a house down payment while I am still making payments on the home I am trying to sell?