Should have some weazel clauses in your contract . For example, you should make the deal contingent on:
1...Buyer selling present home 2...Buyer getting mortgage 3...Independent house inspection,satisfactory to buyer 4...Seller providing buyer with stake and iron survey 5...Seller to complete house by certain date 6...Suject to satisfactory review by buyer's attorney
Make sure your $10,000 is refundable if the aforementioned conditions aren't met. Protect yourself you can't fight these big builders and their busload of lawyers. You can read some of the horror stories from buyers on the different builder message boards.
My realtor can get me out of the $10K if I want to back out. I can't get out based on not selling my home, because I qualify for both. They won't write contingency contracts anymore due to too many cancellations in the last year. That is how the inventory got out of control in the first place. They have gone from well over 100 inventory homes in the Bay area to about 12-15 as of last week.
For the previous poster that mentioned the $160-200K neighborhood. Those are either the townhomes i Tampa or smaller single family units north of Tampa in the Spring Hill area. That price range is the hot price range right now. The home I am buying is over 3K square feet and is over $300K. The same home last year was $400K.