BUYING A NEW HOME IS COMPLICATED. GET SOME HELP. IT WON'T COST YOU A DIME!
Very good post from Lenn Harley about the buying process. It's a huge investment. Should you have expert representation?
BUYING A NEW HOME REALLY IS COMPLICATED.
WORKING WITH AN EXPERIENCED NEW HOME BUYERS' AGENT IS NOT!
William True offers a few suggestions about buying a new home, price vs. incentives and upgrades, etc in his article, Are Builder Incentives just Bait and Switch?
While I don't agree with the "bait and switch" description, buying a new home is certainly not a simple transaction. It is also a financial transaction in which buyers would be wise to use an experienced Buyers' Agent.
HOW MANY NEW HOMES DOES THE AVERAGE CONSUMER BUY??
VS.
HOW MANY NEW HOME TRANSACTIONS HAS A BUYER'S AGENT CLOSED?
What begins as a piece of ground is transformed into a home. Buyers are wise to seek experienced help to guide them through the new home construction process.
From the lot to the structure to the completed home is not a simple process. EXPERIENCED NEW HOME AGENT HELP.
Real estate agents have the background to understand the transaction from home search to settlement.
Beginning with real estate school, yes, begin at the beginning, and through contract management, agents have lerned:
- the language of real estate
- basic real estate financing
- real estate value comparisons
- real estate feature value
- real estate values new vs. resale
- upgrades included or added to base price
- incentives and the relationship to base price
and SO MUCH MORE.
Some consumers believe that they get "a better deal" if they work directly with the builder. WRONG!!!!! Most builders have built in a percentage of real estate broker sales to their base price. The buyer who buys with the help of an experienced real estate agent generally pays the same as the home buyer who goes it alone.
However, if there is a dispute, without an experienced agent to explain, provide information, support, negotiate, etc. for that buyer, they are ALONE and at odds with a VERY EXPERIENCED HOME BUILDER.
- The new home builder owns the lot.
- The new home builder owns the permit to build.
- The new home builder owns the improvement (new home) throughout the building process.
THE NEW HOME BUILDER is selling the lot and the improvement thereon. Until the buyer has title to the property, they can enter into a contract, but has little to no authority. Since builders are rarely members of the National Association of Realtors, they are not covered by the Realtor Code of Ethics, nor are they covered by the state real estate license law. States have minimum requirements for builders other than a license to build and minimum warranty requirements and some states have no warranty requirements.
THE HOME BUYER NEEDS SOMEONE IN THEIR CORNER.
That would be an experienced BUYER'S AGENT.
Courtesy, Lenn Harley, Broker, Homefinders.com, 800-711-7988.
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