What Should Your Agent be Doing for You?
The Minimum Your Agent Should Be Doing:
- Know your wants and needs
- Help you narrow down a comunity
- Preview that community for you with your wants and needs in mind
- Learn what's actually available at that community prior to you visiting
- Learn the true pricing of the homes
- Know what stages of construction the homes are at
- Go to the Model with you and allow you to ask questions
- Reviewing the Contract with you prior to signing
- Go to ever appointment with you
- Continue to update you at least every other week on the progress of your home
Required Builder Deposits and Your Loan…
Make sure you know the builder’s required earnest deposit requirements prior to signing the contract or committing to purchasing the home. It’s also so important to know what type of loan you are going to use and that the builder allows, is it a FHA, VA, Conventional or Construction Loan? Depending on your loan type the deposit requirements may vary. Picking a great loan officer is key! Make sure they know you are purchasing New Construction and that they are experienced.
Narrowing Down Your Choice…
What’s most important to you? You may find the PERFECT new home, but likely there may be a give and take for different floorplans, lots or selections. When narrowing down or selecting the home you want to purchase, you may need to prioritize a few things. Is the floorplan more important or the view/lot? Timing, when is the home estimated to be finished? Can you still chose your selections and how important is this for you and your family? Is the neighborhood right for you? Do they allow short term rentals and how will this effect you? Lastly, the price of course.
Remember your agent should discuss and review the contract with you prior to the signing session!
This contract was written by the seller and likely is in the seller’s favor. Don’t let this scare you away, but it is important to know what you’re signing. As you sign the contract, be aware and take note of any important timelines such as timing for option selections. Make sure you hold up your side and requirements for the contract to protect yourself. Are the earnest monies held in a Neutral Escrow account or do they go hard to the builder? Understand the warranty and what it will cover.