Buying New Construction: Five Things You Need to Know

new constructionIf you have decided a newly built home is what you want, there are some important things to know before you begin visiting new developments.

  1. 1. Engage a real estate agent – What many people don’t know is that the model homes in new developments are usually staffed by a real estate agent who is affiliated with or works for the builder. If you talk with this representative and fill out what seems to be standard paperwork, you may be unknowingly committing yourself to use the builder’s representative for your transaction. It is important you have your own agent who represents your interests alone.
  2. Negotiations – Your real estate agent will help you structure your offer, taking into account items such as asking the builder to pay closing costs or include additional upgrades at no charge.
  3. Be careful what you sign – Don’t sign anything unless you are satisfied with what has been negotiated and it has been written into the contract. Important items such as when the home will be finished and what happens in case of missed deadlines need to be included. Don’t take the builder’s word for it – verbal agreements are not binding. Get it in writing.
  4. Home inspection – Newly constructed homes are not perfect. Even though the house may pass various permit inspections, there may be hidden problems. Consider hiring an independent inspector to ensure your new home is up to code and safe. Your real estate agent can help you arrange this with the builder and determine if and how the builder will address code compliance issues.
  5. Warranties – There may be multiple entities involved in your home’s warranty coverage. The builder may use a third-party warranty company for some items while other items such as windows and appliances are covered by specific manufacturers. Your agent can obtain all warranty information in advance so you may address any concerns in your offer.

Considering a newly constructed home? Don’t be taken by surprise. Call me for assistance in navigating this complex purchase.

I have extensive knowledge of the real estate market in the Clermont area. If you would like assistance buying or selling real estate in Clermont, please contact me directly on my cell at 321/297-5465. See more at www.carolkneller.com

About Carol Kneller

Carol Kneller is a REALTOR with Avalar Real Estate in Clermont, Florida. She can usually be found on the golf course if it's a day that ends in Y. To contact Carol about Real Estate in the South Lake area, call (321) 297-5465.

Carol Kneller is a Licensed REALTOR® with Avalar Real Estate of Clermont, Florida at 17301 Pagonia Rd., Suite 300