Need insight on buying a new home for sale through a builder?
Ever wonder why you might want a realtor when you buy a home for sale by a builder? The most simple reason is because the price for it is already included. Builders don’t give discounts if you don’t use a realtor. Furthermore, without a realtor, you are without representation. Should any issues come up, you must know how to handle them yourself. The salesperson in the builder’s office represents the builder only. They are there to sell the homes and keep you in the contract through closing.
- Most new home builders have site registration policies that require your realtor to accompany you on one of your first few visits. Don’t risk waiving your representation by making your first visit to them alone. Afterall, the cost of a realtor is already built-in to your costs and is not negotiable. In some cases you may have your realtor contact the builder and register you so that you may take your first visit without waiving your representation. Just be sure that you are first introduced to the builder by your realtor wether it is in person, over the phone, email or via online registration.
- Builders rarely reduce price for any reason because once they do, those prices are public so every new buyer that follows wants those prices as well. If you want to try to negotiate, have your realtor research the builder’s negotiating style on prior new homes they have built and sold. Your realtor may also have previous experience with the builder so, they may already know a particularly effective way to approach the offer.
- In many cases, builders will not advise buyers of their right to conduct an independent inspection through a licensed home inspector who inspects your home in different stages of the building process. Your realtor should help coordinate those inspections for you.
- Builders use their own customized purchase agreement in place of the standard forms commonly used. Get a copy of the builder’s purchase documents and Home Warranty policy so you may review it in advance and be prepared to address any concerns upfront.
- Shop lenders for the loan that is best for you, not for the builder. In some cases, the preferred lender is the only option. Just don’t assume that is the case for you. Your realtor should also be able to help you with that. It’s reassuring for the builder to hear about your qualifications from their lender, even if you don’t wind up using their lender so, you’ll probably still be required to be pre-qualified by their lender.
Bottom line is, Find a great realtor and you won’t have to worry about anything.
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