Don’t Go It Alone When Buying New Construction

By Rich Giglia

Port St. Lucie is experiencing a new construction boom when it comes to single family homes. Literally thousands of new homes in several areas are currently being offered and builders love seeing the local agents bring in their buyers. Many builders will offer additional savings and incentives to local agents who frequent their site. Why? Because it entices busy agents to bring their buyers. It’s important to agents that their clients are treated fairly by the builders and they remain happy throughout the transaction. Which is one motivating factor for the builder to work hard to keep the client happy, ensuring the agent will return to the builder with future buyers.

Showing up at a new construction site with a local agent can and will very often save you money. Keep in mind, the sales force at the builder’s model homes have knowledgeable agents on staff that work for, are paid by, and look out for the best interest of the builder. That’s not to say they won’t take good care of you, but as mentioned above, there are many reasons why a builder will do even better when you have your own representation. How will they do better? Typically by offering incentives and sometimes even better terms.

Incentives can come in the form of upgrades to the home, credits toward closing costs and or premium lots within the community. Upgrades are usually in the form of a specific dollar amount.

Terms can be a bit more complicated. I recently had a builder agree to an over the top deal in the world of new construction. My clients fell in love with a model scheduled for completion in 3-4 months, but could not purchase until their current home, which was not even listed yet, was sold. The builder reserved the home for my clients and gave them three months to sell their home. A home sale contingency in new construction typically does not exist. We got the home listed, under contract and closed before time ran out and purchased the new construction. My clients were more than thrilled and the builder has earned my respect, which I pass on to buyers.

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