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In the process of buying a new construction home in The Grove Chase located in Indian Land, SC. The home with Lennar's "everything included" and an additional $10K in options/upgrades didn't even appraise for the base price of the home.

Lennar agreed to lower the price of the home to the lower appraised value, however their version of lowering the price is to use a portion of the $7,500 buyer's incentive they are offering to get to the lower price (basically using the buyer's credit towards the negative equity). Unethical and deceiving to sell homes (with upgrades) that won't even appraise for the advertised base price. At this point I'm trying to work with them to lower the price to meet the appraised value minus the incentive or need to look into getting my deposit back.

I don't have high hopes. Stay away!

Reason of review: Pricing issue.

Location: Pretoria, Gauteng

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From experience as a contractor, I can tell you that appraisers don't always get it right and there is nothing the builder can do about it. If your neighbors houses appraised correctly chances are this is on the appraiser not the builder.

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