Posted by Ray on 4/10/06

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I recently bought a new construction home. We put earnest
money down before the building process began and the
seller held the construction loan for us with a purchase
agreement in hand of what the house would include,
blueprints etc. Upon completion of the home we met with
the builder, seller, and our agent to go over the final
numbers and any debits or credits that had come up in the
building process. We paid for every penny down to the
overage in the ocst of the drawer pulls we chose and the
amount of gravel used on the project. We closed on the
house and everything was settled. Now almost a year later
the subcontractor on our furnace came to us asking for the
$2000.00 rebate that was given to us by our electric
company. Without our knowing the builder and subcontractor
agreed to take the rebate amount off the purchase price of
our furnace. In all of our negotiations however no one
mentioned any such agreement to us. It also was never in
any documents we signed for the purchase agreement or
closing. The rebate can only go to the electric company
customer who purchased the system and was sent to us in
our name. Do we have to hand over this money when we had
no knowledge of any agreement? The builder is saying they
gave us a credit for it in the purchase price of the house
but we never were told what the system cost and that the
rebate was being used to lower that cost. They also argue
we were never to know about it so it shouldn't matter to
us. Our realator also knew they say and she admits this
but never told us because the builder was going to handle
it. What should we do now?

Re: Rebate, 4/12/06, by sharwinston.

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