Should you have a realtor when buying new construction?

Why you need a realtor when buying new construction?

You can make a new construction home your own. One of the benefits of working with a new construction Realtor is that they can negotiate the customizations with the builder on your behalf. This can help ensure you get a fair price for your upgrades and alterations to the floor plan.

Do I need a realtor to buy a new construction home?

If you are interested in buying a new construction, the builder’s agent will be ready to help you with the process. But make no mistake: You need your own real estate agent from the get-go.

Does a Realtor make money on a new build?

The builder pays the Realtor a commission, typically off the BASE price of the home, before any extras are added. … A: 99.9 percent of Realtors work on commission. Generally from buyers’ agent perspective, commission is the same for a resale property as for a newly built property.

Can you negotiate a new build?

Just because a new-build property is new, it doesn’t mean the asking price is non-negotiable. That’s right, you can make an offer in the same way you would if you were buying an older property. Of course, it’s up to the developer if they wish to accept a lower offer or politely decline it.

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Can you offer less than asking price on new construction?

Yes, you can negotiate on new construction homes – you’re far better off negotiating for ‘things’ than for money off the purchase price. Even negotiating closing costs is easier than negotiating the purchase price because builders want the final price as high as possible for future appraisals in the neighborhood.

Should you get a home inspection on a new build?

Ideally, you want to have a newly built home inspected twice. First, while under construction, just before the drywall is hung. This allows the inspector to examine the framing and electrical wiring that might be covered up later on. It’s also a lot easier to correct many problems before the drywall is put up.

Are new builds overpriced?

Are new builds more expensive? Yes. According to 2019 data from the Land Registry, the average price of a new build is 29% greater than existing housing.

Is it harder to get a mortgage on a new build?

It can often be much more difficult to get a mortgage on a new-build home than many new homebuyers expect. Individual lenders take a varying approach to brand new homes, with some refusing applications whilst others may be happy to loan. No two lender’s policies or deals will be the same.

Do new builds hold their value?

Just like a new car, a new build house will depreciate in price the minute you turn the key in the door. Even in a rising property market you may not get your money back if you have to sell within a year or two.

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