Move-up buyers in Clark County are entering new construction contracts with a common assumption. They think the process works roughly the same way as their last home purchase.
Holding that assumption can be a significant mistake. And one specific gap between those two realities is now costing buyers tens of thousands of dollars, sometimes the entire deal.
A common issue is fees for late contingent sales. Many builders are changing how they structure these fees. These changes can have a significant impact if the sale of an existing home takes longer than expected.
Understanding what changed and how it may influence your deal is important. It can be the difference between closing successfully and losing your deposit.
Marci Caputo is a Managing Broker and co-founder of New Construction Market Experts (NCME) in Vancouver, WA, with 25+ years of real estate experience. She specializes in connecting buyers with new construction homes across SW Washington, making the process buyer-centric, efficient, and economically advantageous.
New Construction Extension Fees Got Expensive Fast
Until recently, a contingent sale in a new construction contract was simple. Builders charged flat monthly fees for close date extensions, typically around $3,000 per month. It wasn’t something buyers wanted to pay if the existing home didn’t sell on time, but it was manageable.
The shift from a flat fee to a percentage-based structure reflects how builders are managing risk on completed inventory. When resale homes sit on the market, and buyers cannot close, builders carry the interest costs on homes already finished.
Homes with buyer-selected finishes are difficult to resell quickly. The new extension fee structure transfers that carrying cost directly to the buyer. It is written into contract language that most buyers do not read carefully until they are already emotionally committed to the floor plan.
What Happens When a Contingent Buyer Cannot Close on Time
Erin Smiley is the new construction specialist at New Construction Market Experts. She has 25 years of experience, including on-site work for builders with 20 to 40 clients under contract simultaneously.
“I did have a client put a house on the market, and they had to push their close date six months because they were not able to close their current house. We were all ready to close, and they ended up backing away from the sale entirely because they didn’t have the house under contract, and lost their earnest money, which was $20,000 with this builder.” – Erin Smiley, New Construction Specialist, New Construction Market Experts
That is $20,000 gone, no new home, and a buyer who likely needed interim housing while restarting a process they thought they had already finished. A prepared buyer with the right representation can avoid this outcome entirely.
What Clark County Builders Require From Contingent Buyers
Builder requirements for contingent buyers are evolving in response to market conditions. The current standard at several Clark County builders is that if you go under contract with a contingent sale, you must list your existing home within seven days. Some builders now require your home to be under contract, not just listed.
Current resale days on market in Clark County are running 70 to 80 days, with some stretching closer to 90. That is a real planning timeline, not a worst-case number.
Move-up buyers who price their existing home correctly, list immediately, and work with an agent experienced in both resale and new construction are the ones who close successfully.
Ready to map out your specific contingent sale timeline before you go under contract? Talk with our team at New Construction Market Experts before you step into a model home.
The Negotiation Moves That Protect Contingent Buyers
Most move-up buyers do not know what is negotiable on the builder’s side of a contingent sale. I have spent 25 years positioning buyers before the pressure starts.
One of the most valuable tools is a negotiated close date with flexibility built into both ends of the timeline.
“One of the things that can really help the bottom line, if there’s a way that you can negotiate a 60-day close, that can help them so they don’t incur a late fee. There are times where a home may be done sooner than it is estimated to be complete, and maybe you can actually pull up that date if you sell your home, but if you don’t, you have a buffer. It’s the nuances of negotiation.” – Marci Caputo, Managing Broker / Co-Founder, New Construction Market Experts
That buffer is available to buyers who know to ask for it. Most do not ask because most do not know it is on the table.
Four Steps That Reduce a Contingent Buyer’s Exposure
Beyond negotiating the close date, prepared buyers take specific steps to reduce their exposure before the builder’s clock starts running.
- Price to sell, not to test the market. A listing strategy optimized for speed is not the same as leaving equity behind. It means pricing with current days-on-market data in mind and working with a listing agent who has a real marketing plan behind the number.
- Read the extension fee clause before you sign. Not after you are emotionally committed to the floor plan. 5% per month on a $700,000 home represents a potential monthly liability of $35,000. That deserves a careful read and a direct conversation about what it means in practice.
- Hold your financial position steady once you are under contract. Don’t finance a new vehicle or open furniture accounts. Avoid significant credit activity of any kind. Fannie Mae underwriting guidelines allow lenders to pull credit again close to settlement. A change in the debt-to-income ratio (DTI) can unravel a loan approval that looked solid months earlier.
- Know what you are selling before you commit to what you are buying. A realistic assessment of your current home’s market value and the likely sale timeline should be completed before the design center appointment. If you want to see how the full building process maps to your resale timeline, our new-home construction step-by-step guide is a useful starting point.
Questions Buyers Often Ask About Contingent Sale
What is a contingent sale in new construction?
A contingent sale means your new construction purchase depends on selling your current home first. Builders may accept this arrangement with conditions. For example, they might require the buyer to list their home or be under contract within a set number of days. If you cannot close on your existing home in time, you risk losing your earnest money deposit and the new build.
How much can contingent sale extension fees cost in Clark County’s new construction?
Extension fees vary by builder. At least one major Clark County builder now charges 5% of the purchase price per month for close date extensions. On a $600,000 home, that is $30,000 per month. On a $900,000 home, it is $45,000. Reading that clause before you sign is not optional.
How long does it take to sell a home in Clark County right now?
Resale days on market in Clark County are currently running 70 to 90 days, depending on price point, condition, and neighborhood. That timeline directly affects how contingent buyers should structure their build contract, pricing strategy, and close date buffer.
Can you negotiate contingent sale terms with a Clark County builder?
Yes. Buyers with representation can negotiate close-date flexibility, including a 60-day buffer to protect against delays in the resale timeline. Most buyers do not know these terms are negotiable. A buyer’s agent with new construction experience knows what to ask for and when.
What happens if your home does not sell before the new build is complete?
You may face significant monthly extension fees, the risk of losing your earnest money, or both. Some contracts allow the builder to void the agreement entirely if the buyer fails to meet some milestones.
Should I have my own agent to buy new construction in Clark County?
Yes. The agent inside the builder’s model home represents the builder, not you. Bringing your own buyer’s agent costs you nothing in most cases. It gives you an advocate who reviews contract language, negotiates on your behalf, and flags terms like high extension fees before you are committed.
How does earnest money work in new construction contracts?
Earnest money is a deposit made at contract signing to demonstrate your commitment to the purchase. If you back out under circumstances not covered by contract contingencies, including a failed contingent sale, you can lose that deposit. Losses of $10,000 to $20,000 or more are not uncommon in Clark County new construction contracts.
What should move-up buyers do before listing their existing home?
Get a realistic market-value assessment of your current home before you go under contract for new construction. Understand the current days-on-market in your neighborhood. You need to price the home to sell, not to test the market. Coordinate your listing timeline with the builder’s estimated completion date to ensure they align.
Know What You Are Signing Before the Clock Starts
A contingent sale ties your current home to your future one. When those timelines misalign, costs rise quickly. The buyers who prepare early manage both transactions better.
At NCME, we work with move-up buyers to structure smarter contracts and timelines. We help you stay in control from listing to closing. Reach out before you go under contract.
Marci Caputo is the founder of New Construction Market Experts, an independent brokerage in Vancouver, WA. She holds a Managing Broker License in Washington State and earned her Bachelor of Arts from Washington State University, bringing over 25 years of buyer-side representation to Clark County’s new construction market.
