Always Bring a Shark to a Shark Fight: Why You Should Use A REALTOR When Purchasing A New Build From A Developer
So you’re considering purchasing a brand new home… no need to bring a REALTOR® right?? WRONG!! Negotiating with a developer and negotiating with a traditional seller are very similar. In fact many seasoned agents will agree that representation on a brand new home is even MORE imperative to minimize your risks than on a tradition resale… lets talk about why??
ALWAYS bring a Shark to a Shark Fight: Often buyers think that upgrades, incentives and pricing are defined across the board for new construction. WRONG! Your Realtor is your negotiator. They will fight to get the purchase price lowered, even on a new construction home.
Everyone on the block will be talking about it!
How did they get such a great
deal compared to everyone else??
Answer: They brought a Shark to a Shark fight.
Most purchasers will trust the developers on-site agent to look out for their best interests. The on-site agent is hired by the developer to do TWO things 1- Sell new homes and 2- Protect the developer. Nowhere in the on-sites sales agents job description does it state “protect and advise buyer’s of their rights, best interests and industry norms.” NOPE! It is imperative to have a knowledge expert to represent and educate you.
Contracts are equally confusing when purchasing ANY home. Many concerning clauses exist in new construction contracts. These clauses are typically downplayed, but they can open buyers up to significant risks! I’ve seen buyers glance over clauses that put their initial deposit at substantial risk, (1-3% of purchase price), lose their new homes over unclear timeline expectations and preemptively waive a traditional appraisal when they are encouraged to use the developers in-house lender.
None of these clauses are in the buyers best interest, ALL of these clauses are in the developers best interest. REALTORS® are well versed in the pit falls of home buying and know the questions that are necessary to flush out these minor clauses that can cause major problems.
You want to ensure your protected in an Real Estate transaction… Always bring a Shark to a Shark fight?
Do you want a list of new builds in your area? E-mail Martha.Loveless@gmail.com
The Best Carmichael Realtor
*A special thank you to YELP for helping us find the best Mexican Food in Carmichael, CA*
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