If you are thinking about purchasing a new home an agent can be extremely helpful in protecting your interests and saving you money. Most builders are willing to pay a selling agent a commission as part of their marketing costs so, in this case, it costs you nothing to have an agent to watch out for your interests. Why is this important?
Despite how friendly and helpful the new home sales staff might seem, they owe their primary loyalty to their employer, the builder. Yes, they will also assist you in the purchasing process through a relationship known as, “Dual Agency”. While not illegal, it’s very challenging to fairly represent two parties whose interests are diametrically opposed. Just Google the term, “Dual Agency”, and you will see.
Buying a new home has many risks and having your own agent can help you manage those risks. Just one of those risks are large non-refundable deposits that some builders require. Another challenge is the maze of upgrades that are available raising the cost of a base model new home $50,000 to $200,000 or more.
Your agent can help you decide what inspections might be necessary even though the home is newly-built. Do you think a builder is going to suggest that you have professional inspections on their new home? There are thousands of items that go into a new home, many of which could lead to problems if not installed or maintined correctly. You sould definitely inspect a new home before the walls go on.
In addition, your agent can help you evaluate the reputation and quality of different new home builders which can vary widely. Remember, builders are gone after the last house is sold but you have to live with it for as long as you own your home.
Consider hiring your own agent to protect your interests when buying any home… especially a new one.
Feel free to contact me if you have questions about any purchase, especially a new home. Contact: Michael Lee, at (925) 864-8848 or firstname.lastname@example.org.