Do I need a Realtor when buying a new construction home?
The answer is YES!
A new construction home has a lot of advantages, but many buyers make the false assumption that they can save money by not using their own Realtor when purchasing a new home. But this is not true. You may not know this but the commission for your Realtor is legally part of the purchase price. If you are not using your own Realtor, the builder simply receives an extra 3% from your purchase. Basically, it’s free for you to use a Realtor. Yes I said FREE!
Builder sales reps represent the builder. Often builders have their own agents on site to answer questions, assist people who walk in, and ultimately help with a purchase. But it’s important to remember that builder reps represent the builder, as they are contractually obligated to do. Your Realtor will be a trusted resources for real estate information and can help you navigate the increasingly complex home-buying process. Realtors will represent the interests of the buyer alone and not the seller
Fiduciary responsibility. One of the most important considerations for any buyer is fiduciary responsibility. When you retain the services of a Realtor, their responsibility is to you. That means you have an expert who is looking out for your best financial interests, an expert who’s contractually obligated to protect you. A Realtor can help you navigate the new-construction contract; help you understand how specific clauses, riders and upgrade options affect you; and make sure you know what you need before you sign on the dotted line.
Negotiating a better deal. Finding the right model and picking your upgrades is the fun part. Once you’re ready to sign the contract, a Realtor can work on your behalf to negotiate the terms, from upgrade options to financing and closing costs. In addition, a Realtor can present other options for financing or might be able to work with the builder’s lender directly to get you a better rate for your mortgage.
Shepherding your new home to closing. Signing a contract with a builder is just the beginning. You must also line up financing, work with title companies and attend numerous inspections throughout the construction process. A Realtor can manage that process and can accompany you on inspections to ensure you’re not missing anything at each construction milestone.
As your realtor I will also visit and take photos of your home as it’s in the various building stages and send them to you so you are always in the know. I will also give you $1,000 to help with closing costs!
Source: www.realtor.com
