Real estate professionals can help you when purchasing a new home.
08/04/2007
Finding and purchasing a newly constructed home is a completely different experience that looking for a resale home. In the case of the resale home a potential buyer may have difficulty looking past the clutter and condition and picturing them living in the home. Many resale homes do not show well, particularly when compared to builder model homes which may be loaded with upgrades, features and options and are professionally designed, decorated and furnished to show at their best.
Another difference is that interested buyers will normally have to be accompanied by a real estate agent to look at resale homes while a visit to a new home builder model can be undertaken like visiting an open house, with even more convenient hours.
It is wise to remember however, that, just like a professional real estate agent can assist you with researching and finding the right resale home and helping you with the offer and working through the myriad of details as you proceed to closing, they can also play an important role in helping you find and purchase a newly constructed home. It might not seem necessary to involve a real estate professional in a transaction where a buyer can deal directly with a builder. However, by using a real estate professional, you have someone to protect your interests and guide you along the right path. Here are 10 advantages to using a real estate professional when buying a newly constructed home.
Just as a real estate professional calls on experience and knowledge of an area to help buyers locate pre-owned homes in a community, he or she can also direct buyers interested in newly-built homes to developments and communities that match client specifications.
A sales professional can suggest builders with reputations for delivering a high-quality product, responding quickly to issues, and being financially sound.
A sales professional may be familiar with how a builder prices his products and where there may be room to negotiate price or upgrades.
Without representation, you are one buyer purchasing only one home. But a sales professional can significantly impact a builder’s bottom line by providing a steady supply of customers. This leverage may work in your favor at the negotiating table.
The lender approval process may go smoother if a sales professional schedules visits, accompanies you to lenders, and helps expedite required documents.
What may seem like a simple transaction can grow legally complex and risky. On signing a contract you may receive literally hundreds of sheets of papers and documents, covering not only the purchase contract but soils information, builder warranty and other disclosures, home owner association documents, covenants, conditions and restrictions, lists of options and upgrades, title and closing information and much more. A sales professional is familiar with these documents and with the complexities and risks inherent in the home buying process. They can explain the process to you and when questions arise, they can steer you to the right advisors and services you may require.
When relocating to a new area, sales professionals can be particularly valuable resources. In addition to providing local area information regarding schools, day care or elder care services, public transportation, proposed development, and so on. Once construction is under way, they can periodically stop by the work site, supply you with progress reports, and photograph or videotape phases of the construction.
A sales professional can assist you as you face hundreds of design choices and consider which upgrades could potentially add value to the home when it comes time to sell.
A sales professional can accompany you at the site while you okay the plumbing and electrical locations prior to dry walling, as well as on the walk-through or builder orientation.
Lastly, most often the builder pays your sales professional’s commission. You enjoy individual attention and support at no cost to you.
The most important thing to remember is that if you decide to utilize the services of a Realtor to assist you in finding and purchasing a home from a builder, you need to select that person at the beginning of the process. Most builders require you to be accompanied by your agent when you first visit their model home or, at the very least, to register the name of the agent you will be using should you decide to purchase from that builder. This requirement is usually posted at the sales office / model home, if not be sure to ask about the registration procedure prior to signing in at any builder model home development.