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Buying A New Construction Why You Need Your Own Real Estate Agent
Dated: March 2 2018
What sides are what in this transaction, and why you should be represented by your own Real Estate agent.
Builders Agent- he/she works FOR THE BUILDER which is the SELLER. They are responsible in getting the HIGHEST possible price for the builder. Although, they are there to help you, they do not have your best interest in mind.
Buyer's Agent- that is YOUR AGENT! They will help negotiate to get the LOWEST PRICE while getting more for your buck, help you see what the builder's agent is not fully saying, and walk you through the whole buying process.
DON'T FORGET to bring your agent with you at the 1st initial meeting with the builder. If you don't the agent might not be able to represent you, if the builder will not pay the commission. Always write down your agents name where it ask. Remember, you are not bugging your agent when you ask them to come with you to the new construction home sites. Even if you decide to move cities, states, your agent can ALWAYS help you some way, so don't be afraid to ask.
There are more things your agent can do for you while representing you on a new construction:
They will help negotiate extras or options. All those eye popping things in the model home you are seeing guess what they are extra/ options and they cost more money on top of that standard price they builder's agent told you about! Your agent can help get them with their negotiation skills.
Financing! Most builder's agents will recommend their preferred lender and say they will pay for the closing cost. Yes, that is great, but is it actually the best deal for you? Shopping lenders is always wise. It will not ding your credit every time a lender pulls it. Shopping for the same thing will only ding your credit on the same hit. Shop lenders and find what financial situation works best for you in the long run.
The INSPECTION!! Oh, how I ALWAYS recommend an inspection. Most warranties are only for 1 year, and structural for 10 years. The home inspection is crucial! You don't want to be that person threatening to take your builder to court over something they did wrong when it pops up down the line. There are several inspections you should get during the process to insure the home is built well. The foundation inspection, the structural ( when the beam are finished being put up), the wiring, and plumbing inspection, and then the complete inspection at the end. Yes, those will be up front cost but can save you thousands later. I have heard too may cases regarding this and how the clients thought they could forgo that inspection. If you can only get one inspection get one, but dont get none!
Protect your investment with someone one YOUR side. Going to court without a lawyer might be OK, but the benefits of having a layer will suffice!
Let House On Lake Conroe be on your side!
Born and raised in the small town of New Iberia, Louisiana. Later graduated from college with a associates degree in computer networking. Went on to a 20 year career in the oil and gas industry. Now h....
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