Most home builders are good guys, but beware! If you walk into a model home or office of a new home community without a real estate agent, you'll be on your own. Perhaps this is the first time you are buying a home, and if not, it certainly isn't something you do everyday, right? Realtors buy and sell homes every day. We know the contracts, contingencies and potential pitfalls that can beset an unsuspecting buyer. We've been there before. Don't make a mistake with the largest investment you are likely to make. When you go to purchase your home, please take a professional along.

What prompts this warning? Today someone contacted me for help because they were in danger of losing an earnest money deposit that was over $8,000 dollars. The contract they signed with the builder to purchase a new home made me want to cry, or scream! It was dated in December 2006 for the purchase of a home to be built. . .in February of 2008. On top of the fact that 14 months is a long time to tie up several thousand dollars, the contract they used was nothing like the Maryland Residential Contract of Sale which has all sorts of safeguards built into it that are in the buyer's favor and allow for various contingencies. In this case, this first time home buyer was unable to get financing (even after being pre approved by the builder's lender) and the builder was trying to keep the entire deposit. All the terms in this loosely worded contract were in favor of the seller (builder) with nothing to protect the buyer. . .in fact, I'd go as far as to say it was designed to screw the buyer! No loan, no home, no deposit without a legal battle (all I could do was to recommend that they seek competent legal advice).

So, folks, take my advice and bring a Realtor with you when you want to buy a home from a builder (or anyone else for that matter). The builder will only honor their promise to pay the agent a commission if you bring your buyer's agent with you the first time you visit. Most Realtors are happy to accompany their customers to any new home community in which they are interested as well as help you to navigate all the potential pitfalls of the transaction. As your buyer's agent, Realtors have made an ethical promise to treat you fairly and work completely in your best interest. We take that seriously! And here's the best part, the seller pays our commission!