Planning to Purchase a Newly Constructed Home? Rely on a Buyer’s Rep!
This content was originally published on April 10, 2017 and updated on March 15, 2021.
Buying a new home is an exciting option! But it also involves more steps and decisions than most existing-home transactions. Your new home buying experience can be more successful and enjoyable if someone is looking out for your interests.
Builders and their sales representatives are searching for buyers to purchase their product, but only an Accredited Buyer’s Representative will be 100 percent loyal to you, providing advice and guidance on:
A qualified buyer’s rep will be familiar with local builders’ reputations and should be able to help you make a superior choice.
Builders aren’t obligated to show you every new home they have for sale, much less other builders’ homes. But a buyer’s rep helps you see the full range of new and existing homes.
A buyer’s rep can alert you when a builder’s deal seems one-sided and advise when legal counsel is needed.
Buyer’s reps are familiar with required and optional property disclosures and can help you obtain these from a builder. If issues arise, a buyer’s rep can counsel you on the next steps.
A buyer’s rep knows which upgrades are most likely to improve your home’s resale value and can guide you on making sure your home’s price doesn’t exceed its appraised value.
New homes are examined for compliance with building codes. However, your buyer’s rep can help arrange independent inspections, providing another level of confidence that any problems will be spotted and resolved.
Buyer’s reps are familiar with a wide range of mortgage options. They can advise you on the merits of a builder’s options (if financing is offered) or suggest other lending sources.
A buyer’s rep can alert you to issues that may not be addressed, including title insurance and protection against mechanics’ liens.
Sale of Existing Home
If you also need to sell your current home, you’ll appreciate having someone representing your interests and coordinating details on both sides of your transaction.
These are just a few ways buyer’s representatives can improve your experience when purchasing a new home. To learn more, talk to your Accredited Buyer’s Representative (ABR®).