We had a new home built in Utah, but due to a job change we had to move out of state just as the home was completed and instead of trying to sell the home on our own, we took a loss and the builder kept the down payment, in addition to the new build construction fee, then they sold the house on their own and they made a decent profit on it. We took a total loss of close to 25k, however, the builder did send us a letter afterwards which gives us a credit of $11k we can use towards building a new home with them again, should we move back to that state within two years. Our question, is are we able to sell our credit to someone else who may be building a home through them, so that we can get actual money back on the funds we lost, since it is highly unlikely for us to ever move back to Utah? I contacted the builder and they said that it might be a possibility, but I would like to know if it is legally possible, as on the letter there is no indication that the credit can not be transferred....so we're hoping that this might be something we can try to do. Please advise. Thanks so much!

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0 votes

Joel Owens    January 30, 2009

The credit the builder is giving you of 11k really has alot of labor costs and profit built in so it was a token gesture from them to retain future business.

Can you sell it? Who knows??? You could put it on E-Bay or Craigslist and see if anyone would bite.

I wouldn't put to much time in it.

good luck-no legal advice