A North Texas home builder has informed buyers they should be prepared to pay more than they bargained for or they will be allowed out of their purchase contract.
A letter obtained by the Star-Telegram came from a vice-president at Altura Homes who tells the newspaper the letter was sent to be transparent with their customers.
In a nation-wide crunch, home builders are facing unusual shortages of building materials accompanied by sky-rocketing prices.
The Altura letter uses the phrase "unprecedented market conditions."
Many builders say they have no choice but to pass the added costs onto their clients.
Altura builds homes in a price range up to about a half-million dollars and has about a dozen developments going around North Texas.
Related
LISTEN on the Audacy App
Sign Up and Follow NewsRadio 1080 KRLD