The San Antonio TX and surrounding counties area continues to have a shortage of available resale properties. Many areas are still in a Seller’s Market. Buyers are anxious for new listings to appear so they can get a showing before things advance to a multiple offer situation. Only ONE person will win, leaving the rest scrambling for the next opportunity. For this reason, I find that more and more of my clients are choosing to look into building a New Home instead.
You may find yourself going for a weekend drive, and seeing sign after sign with New Home Builders advertising their properties. The sign grabs your attention and you drive towards the American Flag that is flying in front of the Builder’s Model Home. The front door is open and you’re going to be Impressed! The decorators of these homes do such a great job! I absolutely LOVE the staging they do!
In this model home, will be a Sales Counselor, that works for the Builder. They do NOT work for you, should you choose to purchase this home. They will ask you to register yourself on a postcard and gather your personal contact information. There will be a box to check, asking if you are currently working with a Real Estate Agent or a REALTOR®. They will try to sell you the home, should you fall in love with it, or any other property that is available in the community.
BUT WAIT! Calm down there, Sparky. Take a deep breath. Try not to get the feels just yet. I want you to remember, that an educated buyer will ALWAYS make better decisions and have an opportunity to negotiate smarter if they’d first do their homework. First of all, be sure and tell them that you do have a REALTOR® and you’re just looking today. If you register without one, they can use this as a reason to not honor letting your agent be on the deal later. Having representation DOES NOT cost you ANY money. The Builder WILL pay for the REALTORS® commission if it’s disclosed upfront. Does this mean you get a better deal without one? ABSOLUTELY NOT. I’ve been able to negotiate better deals for my clients, than those that tried to do it themselves with NO representation.
There are so many Builders and Subdivisions to choose from. Many of these properties will never show up online, as they are not listed on Zillow, Trulia or Realtor.com. I have access to weekly updated lists from most of the Builders’ available properties and current incentives being offered. They share this information with us so that we can bring them our Buyers. Some homes are complete, while others are barely beginning construction. Some of the nicer lots have a premium (additional cost) while others do not. You may be in a situation where you’re required to sell your current home in order to purchase the new one. I’m able to assist you with that as well, in order to work with your timeline.
You need a REALTOR® who understands the contract and can explain what you’re signing. It is my Fiduciary Duty to protect your best interest and negotiate on your behalf. I’ll educate you on the pros/cons and discuss functional/external obsolescence that can adversely affect future resale-ability. We’ll discuss the Owner’s Title Policy, Closing Costs and Survey. I’m very familiar with the different types of Financing available and will help you decide which type would be best for you. Sometimes it’s worth using the Builder’s preferred lender, while other times it is not.
I’ll always advise you to hire a Third Party Inspector, even if the sales counselor tells you it is already done by their company. I’ve never attended an inspection, where some issue was not found. The builder will use this inspection report to correct any deficiencies, prior to you closing on the home.
I’ll attend your walk-thru and your New Home Orientation. I will also be by your side at closing to answer any questions you may have. So, if you’re ready to take the next step and buy a New Home, let’s talk. This blog post would be twice as long if I needed to address everything we do for our clients. I look forward to speaking with you soon.
Patricia Chavez, CCIM, ABR, MRP
Keller Williams Heritage