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The National Association of Realtors (NAR) has indicated that new construction increased in 2012 and will only continue to increase in 2013. What does this mean to a buyer? The end of the year and end of quarters are great opportunities for buyers to purchase inventory homes from builders.
In the case of new construction, the builder is represented by a seller’s agent. They only represent the builder and do not represent the buyer as clearly defined in the Consumer Notice. My recommendation is that anyone who is considering buying or even looking at new construction strongly consider employing the services of a buyer’s agent, who is typically “free” to buyers! You should do this prior to your first visit to a any new construction site and your Realtor® should also accompany you.
What are the benefits of using a realtor to represent a buyer ?
A buyer’s agent will represent you from start to finish, that means from the beginning of the signing the contract to the end of final closing.T They will help you to negotiate the best possible
price for the property including options, lot premiums, and overall price.
As a realtor that has assisted several buyers in purchasing a new construction, I review all contract verbiage to insure that there is no “hidden verbiage” and insure where applicable that some be added where warranted. Keep in mind most new construction contracts are written by attorneys who represent the builder and these contracts are therefore heavily weighted in favor of the builder.
As a buyer’s agent, I also recommend that at a minimum, a pre-drywall home inspection is down to insure that there are no obvious defects which could not be seen after the drywall goes up. I also
recommend a final inspection as any new home purchase is a huge investment.
Assist the buyer in attaining financing and a review of the financing paperwork, settlement charges on the HUD1 settlement sheet. I also help the buyer to select a title company with various options.
Attend a pre-settlement walk-through to help determine a punch list and the give a second opinion for any obvious defects.
My objective as a buyer’s agent for new construction or resale is to help the buyers make informed decisions during every step of the process. Again, I strongly encourage all buyers to consider using a Realtor® to represent them when purchasing a newly constructed home. Most if not all builders rely on Realtors to help to sell their inventory. It is our responsibility as a "Buyers Agent" to get you the best possible deal and represent you every step of the way!
Call me today to assist you in your new construction purchase Lynette Campbell NTRTEXAS 832-640-3373
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The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latestU.S. Census BureauandU.S.