One Rincon Hill: Closings, Walkthroughs, And (Almost) Anything ElseJanuary 8, 2008
Okay, so perhaps we were a bit naïve in thinking readers could wait 24 hours to engage in a discussion about walkthroughs and closings specific to One Rincon Hill, so without further ado: “I’ve been calling One Rincon to ask when I could get into the building and they said they are working on it. Does anyone know when they’ll let people in?”
∙ One Rincon Hill: An Official Update And A Few Confirmed Facts [SocketSite]
Comments from Plugged-In Readers
My closing date for One Rincon Hill is between Feb 4th to Feb 14th. Rather I will actually close during that time is unknown. But from what I hear, they don’t expect any delays.
I’ve also asked for a preview of my unit, but was denied. They were pretty firm (at least with me) about seeing it before the walk through. Walk throughs are scheduled after the closing date.
So, are people going to be moving in right when they are starting construction on Phase 2, or has that been pushed back? Speaking about construction, isn’t Phase 2 construction going to block the parking entrance?
Naive question: Where is everyone moving into these (and other) new condos living now? Are you renting or buying in/outside SF? If the former, does this mean rents are going down (more supply), and if the latter, are you worried about getting out of the old property?
Or are these 2nd-, 3rd-, nth, or investment properties? Thanks in advance for the replies!
I asked if they were going to let anybody in the building but they were very firm that it would not be until my walk through. Kind of annoying!
“Walk throughs are scheduled after the closing date.”
fng, what does this mean? Are they really trying to force buyers to close before letting them walk through? What buyer in their right mind would do that? You give up the only leverage you have to actually get things fixed if you’ve already closed.
“What buyer in their right mind would do that? You give up the only leverage you have to actually get things fixed if you’ve already closed.”
Buyers need to check their purchase agreements very carefully. If there is no mention of whether you have a right to see the unit prior to closing, then you damn well better press them on that point because that’s completely and utterly unacceptable.
And to repeat Anon @ 1:44’s sentiment above, the answer to the question is, no buyer in their right mind would accept that. Don’t let the sales office push you around, particularly if it’s on a point that’s not addressed in your purchase agreement.
“Walk throughs are scheduled after the closing date.”
Sounds fishy. I bet they will do the walkthru right at closing, just before funding. It’s a technique used to strong arm the buyer into closing even if there are some defects.
I personally never really trusted the sales team. They’re never seem as open as they could be, and tend to answer your questions indirectly.
“Home Owner Pre-Closing Walk Through:
A representative from Professional Home Warranty Service (PHWS) will call to set up an appointment with you approximately 5-7 days before your closing.”
Yes, the closing is after the walk-through. Of course, owners are permitted to bring their own inspector with them on the walk-through. I’ll probably do that, since a professional inspector will be more eagle-eyed than I am.
No, the construction of Phase 2 won’t block the entrance to the garage, but it will be interesting to see how they manage to do it with so little space! Moreover, construction on floors 28-60 of Phase 1 will continue even after the move-ins start for floors 8-27. (Floors 1-7 include the garage, lobby, etc.) Owners have signed a disclosure that the construction hoist will still be on Tower 1 for a while, and that there will be some amount of noise, etc. In short, there are no surprises here. It will be an adventure!
While we would all like walk-throughs of our units yesterday, you can imagine that scheduling that would be a nightmare and would interfere with the move-ins. I was lucky enough to see the inside of the building back in November, but that was before the walls went up on my floor, so that doesn’t count as a walk-through 🙂 The view was spectacular, however. I should point out that I took that tour after I had signed the contract.
My closing date isn’t until August. I’m hoping to meet someone with my same floor plan, perhaps at a neighborhood meeting, before then, and get an invitation to take a look.
I’ve got the following tentative closings;
1204, 1403 Mid Feb
2103, 2404 beg Mar
2604 Mid Mar
3702, 3808, 3801, 3901, 4901, 4908, 5002, 5102, 5402, 5405, 5406 after that all the way up until sep / oct. But all those dates are estimated and nothing written in stone.
from what i heard they are not letting anyone up to go through the walk through unless you are on title. what a joke. how can you not bring at least even your agent?? something is fishy
Yes, it’s true. You can not bring anyone that is not on title. I just went through my walkthrough last Friday and my agent was denied access.
Although, I thought the walkthrough experience was a good one, well organized, lots of good information but I have to say I was very disappointed at the construction work inside the unit, it’s sloppy to say the least.
I have documented some of the sloppy jobs with my camera and may post it up somewhere later to show the poor job they did on my unit and possibly, other units. Still thinking what’s the best way to do that, flickr?
There have been a few interior pictures floating around online of 1RH, and they’re pretty shocking. the finishes look incredibly cheap. I’m curious to see more.
ORH Sales Manager has been forcing me to close at the end of February 2008, while in the stack of documents accompanying the purchase agreement, there’s an “Escrow Timeline 24 Months Closing” which states projected close of escrow at the end of August and estimated move-in in September. Of course, there’s a disclaimer “All dates are estimations and may change at any time” to cover their you know what. Do we have any legal power to close escrow closer to the Timeline? I mean, it’s 6 months ahead! I wouldn’t have a problem if it’s a few weeks off. On a side note, I don’t like the threats the sales manager (you know who) repeatedly mentioned that if we don’t close at the time they demanded, we will lose our purchase deposit. Anyone else has the same experience?
I feel that the treatment I have recieved thus far at the sales office is totally inappropriate. I feel that at best it was rude and at worst it was threatening. Personally, I am also beginning to feel like this developer may be engaging in some shady practices. I know that I was asked to close on my condo before doing any walk through. Can you imagine, buying real estate sight unseen??? It makes me wonder what I am going to see when I do get to do my walk through. I just hope everything is in order!
This is a great check list to use on a walk through.
Wish I had this earlier. I found it on the socketsite.com string devoted to walk throughs a The Infinity
Last night, I posted comments concerning the developer’s quality contral (or lack thereof) and a description of my walk through at One Rincon Hill, together with advice on how to beat the system that the developer has establihed for taking advantage of unwary buyers. This morning I discovered that someone removed the posting. If it was the socket site administrator, please let me know the reason that the posting was removed. Thank you.
[Editor’s Note: We honestly can’t find a record of the comment. And if it was removed, it wasn’t on purpose and please feel free to re-comment.]
I posted a new comment the Random Rumors string which has more current comments.
So how come CBS has the story of One Rincon cancelling/delaying the second tower before SocketSite??
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