Mar 14 2008
Price guarantee offered by several Seattle condo builders
Rumor is that some  builders in the Seattle and Bellevue area are offering price guarantees for units in their buildings. I wanted to find out exactly how this worked so I contacted the Trio Sales center to find out right from the source. The Trio is located at Denny and Western where Belltown, Queen Anne and the waterfront converge. I was informed this is how the guarantee works:Â
“Basically, once the building is completely sold out, each unit is averaged out and compared with other comps of like views in the building. If the average is lower than what an individual unit owner paid, the percentage difference is refunded to the buyer.”
In my opinion I think the buyer should pay down his principal so the buyer maintains the equity that is in the condo. This is a question that should be directed to a financial planner if the buyer does actually receive a refund.
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