What to Do When Buying Newly-Built Holly Springs Homes for Sale from Builders
- Author David Z Anderson
- Published March 7, 2011
- Word count 483
Many first-time home buyers don't want to purchase a resale and prefer newly-constructed houses. They don't like to be left with other people's worn carpeting or used appliances; they want the house to be brand new. If you're like these people and you want to purchase a new property among the available Holly Springs homes for sale, there are some things you should do so that everything runs smoothly.
- Hire Your Own Real Estate Agent
Normally, a builder's sales agent represents the builder, no matter what they say to you, as this is what he/she is paid for. Many of these agents use insistent methods to convince you to sign the purchase contract. This is one of the many reasons why you should just get your own agent, someone who will put your interests first and represent you through the whole home buying process. The real estate agent you'll hire will tell you everything about the deal, the benefits, as well as the drawbacks; builder's agents do not disclose the drawbacks.
- Don't Just Use the Builder's Own Lender
Builders usually want buyers to use their lender as they can be informed of the latter's personal progress. Moreover, such lenders may not give the best deal so it's advisable to consider other lenders first before deciding on anything. Check your own credit union or bank; they may have great terms and rates to offer you, based on your history with them. Your agent may also give you some suggestions.
- Get Legal Advice First
Seek the assistance of a real estate lawyer before you agree to the terms of a purchase contract and sign it. Typical contracts are intended to avoid any legal dispute, but that doesn't mean buyers are protected. You should ask your lawyer about contingencies, cancellation rights, and anything you don't understand about the legal aspect of real estate.
- Verify the Available Options and Pricing Upgrades
Find out what upgrades and options you want for the home. Remember that numerous builders get their highest profit from upgrades. Some can even sell for nearly the cost of bare construction as they make the largest part of their profit in the options and upgrades. See if your lender will loan you on all the upgrades you want; if not, you'll be obliged to finance it in cash.
- Look into the Builder's Reputation
You should check and verify public records if the builder has some lawsuits filed against it. It's important to be careful about this because there are times wherein a builder's bad reputation is simply due to a single experience of a buyer or not.
- Get a Home Inspection
It's very crucial to hire an inspector to have the home checked whenever you buy; hire a qualified and licensed professional. You should be present during the inspection because even a newly-constructed house in Holly Springs real estate can still have some defects.
David Z Anderson writes articles about real estate and investment and is passionate about personal finance topics. Check out interesting Holly Springs homes for sale as well as a comprehensive list of Holly Springs real estate.
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