| Buying a new home is different than buying a resale | | | | 4) Select Your Community - What amenities are |
| although most of the rules are similar. New home | | | | available, pool, tennis, golf, club house, gated |
| sales representatives work for the builder. If you buy | | | | community? Is there a homeowners association if so |
| a new home through the builder's sales rep you will | | | | you must have a copy of the covenants and |
| have no one representing your interests. Most states | | | | restrictions these tell you what the community rules |
| do not require builder sales persons to be licensed | | | | are regarding what you can and can not do with your |
| real estate agents. Who is on your side? | | | | own property. Your buyer agent can help you check |
| 1) Why Buyers Agents - The home buying process is | | | | local land use regulations and what is planned on the |
| full of traps for the unwary, inexperienced, and even | | | | vacant land nearby you may end up with a 24 hour |
| the experienced home buyer. A good Buyers Agent | | | | gas station behind your new home. |
| can help you stay on course and avoid the problems. | | | | 5) Contract and Negotiations - This is the maze your |
| Understand that not all real estate agents are equal, | | | | Buyer Agent will help you navigate. There is always |
| spend some time interviewing agents. Interview 2 or | | | | room to negotiate with builders it may not show as a |
| 3 agents expect a strong presentation of their | | | | dollar amount off the price. They have homes built as |
| qualifications, experience, and written guarantees of | | | | spec, premium lots (remember all lots cost the builder |
| performance. Today's best Agents are internet | | | | the same), homes that are more efficient to build |
| savvy, have a team approach and use an interactive | | | | than others, specials on upgrades and options, special |
| computer presentation of the facts. | | | | discounts from vendors and suppliers. Builder |
| 2) Know What Can You Afford - Your Buyers Agent | | | | incentives on using their mortgage company, title |
| will insist that you to be pre-approved for a | | | | company, upgrades and credits. |
| mortgage (not pre-qualified) before starting the | | | | 6)Inspectors and Inspections - The top Buyer Agents |
| home search. They will direct you to 2-3 bankers | | | | will guide you to hire a licensed structural engineer to |
| mortgage companies that they are confident can | | | | inspect the major structure of your new home |
| follow through and close your loan will little or no | | | | before the drywall is hung. A licensed home inspector |
| hassles. You will find that builders usually have the | | | | can inspect the home for systems and operation. |
| own mortgage contacts some have their own | | | | The best builders offer planned inspections of your |
| mortgage companies. | | | | home with you during various construction stages i.e. |
| 3) What Builder is Best For You - Your Buyer agent | | | | site inspection, pre drywall, pre closing punch list. |
| will help you determine your specific needs and | | | | 7) Closing Date - A Buyers agent will follow up on the |
| preferences before shopping for a builder. What area | | | | construction process home builders are known for |
| meets your needs for schools, distance to work, | | | | not meeting the closing dead lines. Weather, |
| church, and shopping? Now you and your buyer | | | | subcontractor delays, supplier/vendor deliveries |
| agent can look for subdivisions or custom builders in | | | | behind schedule, field supervision, and holidays all can |
| that area who will best address your needs. Take | | | | add up to days, weeks and months of delay. Insist in |
| your time, shop around. Inspect model homes, | | | | your contract that you receive a 30 day notice of |
| pick-up brochures with floor plans and pricing become | | | | the closing date so you and your family are not |
| educated before making your choice. With your | | | | stuck in a hotel waiting for settlement. |
| Buyer Agent interview builder sales representatives. | | | | |