Before You Shop at a New Home Development
- When you walk into the sales office immediately let them know you are represented by a Realtor. Otherwise, they may withhold information that your agent will need in order to protect your interests. They may also prevent you from being represented. This is a common occurrence.
- Be aware that if you disclose that you are represented by a Realtor, the builder will compensate your agent at no cost to you. Ideally, give them one of our business cards.
- It is extremely unlikely that the builder will not be using the standard California Association of Realtors purchase agreement which has been designed to be fair to both buyers and sellers. It is likely the builder will attempt to utilize a contract written by a law firm that is very one-sided in the home builders favor. Extreme caution must be exercised before signing anything. It may require modification or an addendum.
- Remember that the sales agent in the builder's office represents the builder, not you. This is true regardless of what they say.
- One of the first documents that needs to be reviewed are the CC&Rs. The builder may hesitate to provide them at first. CC&Rs may contain restrictions on parking, pets, acceptable colors, use of the property, and more. Don't leave without the CC&Rs if possible.
- It is likely that our company knows the reputation of the builder. It may be good or not so good. Whether a builder is known for selling defective products or honoring their warranties is important.
- The financing offered by the builder may be very good or not so good. We can help you obtain the most competitive loan available.
- We can assist you in determining whether to buy upgrades from the builder or from a third party. Upgrades can be very expensive so this becomes an important decision.
- While many home builders will not negotiate the price of its homes, other items can often be negotiated by us. These includes closing costs, floor coverings, landscaping, upgrades, finishes, and the length of individual component warranties.
- We understand the home buying process when a new home developer is the seller. We can help you save money while protecting your interests.
Call with any questions.