Elizabeth Weintraub, contributing author on About.com's Guide to Home Buying and Selling, covers a topic you should care about if you're considering new construction for your next home.
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Elizabeth Weintraub, Sacramento Real Estate Broker:
Lots of buyers, while well meaning, don't realize that they can hire a buyer's agent to represent them on a new home purchase from a builder. Buying new homes from a builder are really no different than buying a resale home. You're better off hiring a buyer's agent. For example, tonight I negotiated a transaction for a buyer in Natomas. She bought a brand new condo. Her next-door neighbor paid $237,000 for his condo, and it closed escrow two weeks ago.
My buyer bought the model -- which meant she got all the artwork and furnishings in the home, including a brand new gas BBQ grill -- for $22,000 less. You can bet her neighbor didn't get furnishings nor designer paint and window coverings. This buyer received $40,000 in upgrades, plus the furnishings. She paid $215,000, although the builder's asking price was much higher.
What can you get in brand new 3-bedroom, 3-bath, almost 1400 square-foot model condo in Natomas? The answer: $215,000. If you have hired a buyer's agent. The "home consultant" told me that since she lowered the price two days ago, all of a sudden agents are appearing with qualified buyers. Doesn't amaze me. She also told me our offer would not be accepted, but it was!
This builder has sold 20 homes out of 24. The time is right to buy right now! Buyers, don't go it alone with out an experienced agent. The builder pays the commission. Why would you do it any other way?
Photo: Elizabeth Weintraub
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I've absolutely experienced this myself. One time, I negotiated an $18,000 discount off a new home...in a neighborhood that claimed to NEVER discount their homes. My buyers ALMOST went directly to the builder without me...just before they found me. How cool is that? :-) GBU!