Buying a New Construction Home, The WRONG WAY is our how not to guide to buying new construction on The Main Line PA. Thinking that buying a new construction home without an agent can save you a few bucks? Think again. You may be wondering if the builder’s real estate agent has your best interests in mind? The seller’s agent can be a good resource in the new construction process, but don’t forget they’re representing the builder in the sale. A seller’s agent doesn’t want the buyer to have a bad experience, but their fiduciary duty lies with the builder. Because of the structure of the commission, the seller’s agent is legally obligated to serve their client’s best interests. We’ve walked many homebuyers through the process of purchasing a new construction property, avoiding potential pitfalls and stressors, while advocating for their best interest each step of the way. Having a buyer’s agent to help you through your new construction purchase has many benefits. It’s customary for the builder to pay the buyer’s agent’s fee, so for starters, it’s generally FREE to you. Not every builder has the same level of experience and delivers the same quality of the home. An experienced buyer’s agent will have knowledge about the various builders’ track records and they will have a good eye for the quality of the construction for each development and home. Your real estate agent can negotiate on your behalf. With new construction homes, there are often opportunities to negotiate the purchase price, upgrades to the home and credits towards closing costs. Don’t leave money on the table or miss opportunities for upgrades and customizations because you don’t have someone solely in your corner advocating for you. The purchase documents for a new construction typically have been created by the builder’s attorney. These documents are generally written in favor of protecting the builder’s best interests. Understanding the various clauses in the documents is essential. Your real estate agent can help you through this process. They will comb over the contract and bring up any issues or concerns. Additionally, they can help you address any items of contention with the builder and seller’s agent. Barring a natural disaster or other unforeseen circumstances, a builder should complete your home in a reasonable amount of time. With that said, it is not uncommon for builders to have delays and for buyers to be left in limbo frustrated waiting for their home to be completed. Your agent can be the squeaky wheel pushing for your home to get prioritized thus minimizing delays. When it comes to buying new construction, there are lots of benefits that come with working with an experienced real estate agent and I am here to help you. Again, this is Kimmy Rolph with Berkshire Hathaway Fox and Roach and Kimmy Rolph Sells The Main Line and Local Areas.
Did you find Buying a New Construction Home, The WRONG WAY useful? Follow us on Youtube!
