Profile picture for bruehlt

Builder upgrade incentives - do they lower the overall contract price of the house?

We have an agent, but they won't be able to answer our question until Monday, so I will post here in the mean time.  We are building a new construction with a big builder, and they've provide us with about $20,000 in incentive upgrades.  If we are looking at building a $350,000 house, and are looking at doing $50,000 in upgrades, will the contract price (that needs to meet appraisal at closing) be $350,000 + $50,000, or will it be $350,000 + $50,000 - $20,000?  Thanks!
  • March 22 2013 - Orlando
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Answers (2)

Profile picture for bruehlt
So the actual contract price would have the incentives "built in," meaning in the above situation, we would add $30,000 to get the total (which would come out to be $380,000)?
  • March 22 2013
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Profile picture for craigfial
I would say $350+$20 $370,000 total.  The $20k incentive is already built into the purchase price.
  • March 22 2013
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