If you’re planning on buying a new home from a builder, you may be thinking you really don’t need a real estate agent.
Well, I’m going to let you in on a little secret…
Hiring a real estate agent to help you purchase a new home from a builder can save you money!
Your real estate agent will know if the builder has standing inventory with special pricing. They will also know if there are any incentives such as money towards closing costs or upgraded stainless steel appliances that can be thrown in to seal the deal.
Every builder will have different incentives, and your real estate agent is your most valuable resource.
Builders are different and offer different upgrades, incentives, floorplans, etc. And most builders have several price ranges, floorplans, and build in different areas. Getting to know a little about each of the builders by visiting their site is a great idea!
Remember, NEVER register on any site or at the sales office, otherwise, your Realtor can’t represent you or negotiate on your behalf.
It’s also important to know that the sales agent you’ll meet at the new home site works for the builder, who is the SELLER!
As a buyer you wouldn’t go show the seller’s agent all your cards, would you? So why would you go directly to the agent that works for a large builder?
Their job is to keep as much money in the builder’s pocket as possible.
So arm yourself with an agent that knows the new home inventory in your search area.
There are also challenges that may arise during the escrow and construction phase. That’s where your real estate agent’s knowledge and experience come in.
Helping our clients through the unexpected hurdles that always seem to come up during the home-buying process is one of the most important tasks real estate agents perform. It’s what we get paid the big bucks for!
Some of the hiccups that can pop up during a new home purchase include:
-Interest rate increases
-Changes in a financial situation such as a job loss
-DTI (debt to income) ratio change
-Credit score drop
-Derogatory items on credit score originally missed
If a new home purchase falls out of escrow, the buyer can be out of their earnest money deposit and almost always lose any deposits made on upgrades.
So if an issue arises, you want to have an agent on your side.
And you want an agent who has the experience to figure out how to save you from losing your dream home along with the hard-earned deposits if possible.