THINKING OF BUYING NEW?....
If owning a home is the American Dream, then building your own home is the epitome of that dream. If you are seriously considering building in the near future, you have a lot of homework to do.
Fortunately, we are here to help you. All of us have incredibly busy schedules, but you need to plan time to research builders, neighborhoods, schools, and any other factors that may affect your personal situation.
Once you have decided that you will probably build, and before you go wandering around model homes, take the time to select a competent Realtor who is familiar with new construction! The majority of people we meet are surprised that you NEED a Realtor to help you if you are going to build. Most people assume because there is a sales person at the model to answer your questions and complete the paperwork that they do not need a Realtor working on their behalf.
The FACT that most people DO NOT KNOW or DO NOT UNDERSTAND is that the nice agent in the model is representing the seller. Most people also assume they can get a better deal if they do not use a Realtor since they understand that the builders would be paying their Realtor and they ASSUME the builder will reduce the price of the house or cut them a deal if they don't use a Realtor.
Two important facts you need to be aware of:
•(1) The builder pays the commission no matter what. If you have a Realtor, the commission gets split between your Realtor and the builder's sales agent. If you walk into their model with no Realtor, when you sign the contract, the builder's sales agent will get the entire commission. Any compensation given to the Realtor is built into the seller/builder's marketing budget.
•(2) No matter what field you are in or how competent you are, you may not have the knowledge and background you need to protect yourself when writing the contract and the other millions of details which go with building a house, unless you have real estate and legal background and know the real estate laws, building codes, building trends, etc.
Many builders' agents will say "You don't have to have a Realtor." That is true; you do not have to have a Realtor. YOU NEED TO HAVE A REALTOR. The law allows you to have a buyer's agent. Your Realtor can help you with the building of a home, just as though you were buying an existing home. The law allows for your Realtor to be paid from the commission the seller/builder MUST pay when the home sells. Using a competent Realtor is more likely to save you money. It will certainly save you headaches.
REALTORS CAN HELP YOU WITH THE FOLLOWING WHEN BUILDING A NEW HOME:
•1. Select a builder who meets your needs.
•2. Select a location and lot that you can be happy with.
•3. Thoroughly understand the contract.
•4. Explain the need for an independent home inspector.
•5. Be with you during the actual writing of a purchase contract.
•6. Carefully cover important details about the selection process.
•7. Attend the meeting when you review and sign the blueprint for your house.
•8. Coordinate the independent inspection and builder walk through so you can respond to repairs that are needed.
•9. Be involved in handling the closing and needed follow-up.
•10. Act as your representative should any problems arise before, during or after the closing.
Loretta Blendermann and The Texas Hometown Team can work with all builders in the area and can get all the information you need to help you make any decisions.
One important note, in order for your Realtor to get paid by the builder, he/she will need to accompany you to the property or model on the initial visit.
By allowing your Realtor to help you with building, you get all of the services offered in this presentation and those offered by the builder as well.
YOU WILL GET MORE, BUT YOU WON'T PAY MORE FOR IT!
Building a home is a timely process, but with a Realtor's help, they can provide you with the knowledge that can make the difference between a successful building experience and the TRAUMA OF YOUR LIFE!
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