Q: We put an offer in on a brand new vacant house. The deliver at closing cost is 0 dollars. What is the Risk on this?

A: Dear New House Buyer: Answering a question about "risk" requires a more detailed, full, set of facts upon which you are inquiring. For example, I am unclear what you understand the words "offer" and "deliver". Let's start with "Offer" - if you mean that you are under contract with a Developer then, well, yes, there are "risks". Same with "deliver" - if you mean you can move to closing with no fees/costs associated with the purchase then the "risk" isn't gone merely because you can get to closing without paying the closing costs. If your "offer" was accepted by the Developer (which is a routine transaction, for which I reasonably expect has happened), then you are under a binding contract to purchase a residence. And while there may exceptions that perhaps allow you to try to exit this transaction - when a Developer goes under contract with a Buyer, that Developer is expecting you/buyer to perform. What does that mean ? that you are required to procure a loan, accomplish the closing of the purchase, and occupy the premises; thereafter paying your mortgage, taxes, HOA dues, exterior upkeep as required by the HOA, and the like. It would be wise to employ/consult a real estate attorney.

JIM GREER is an attorney licensed to practice in CO and CA and has specialized in real estate transactions for the past 30 years; nothing herein shall be construed as the offering of legal advice insofar as Mr. Greer is not in an attorney-client capacity with the inquiring party.