Why You Need a Buyer’s Agent When Purchasing a New Construction Property
Did you know that, in general, the National Association of Realtors estimates that nine out of 10 home buyers use a real estate agent help them with the process? Buying a new construction home may seem easy enough to do on your own; in fact, it can be even trickier than buying an existing home.
When buying a new construction property, the hurdles are large and plentiful. Having someone who knows how to jump all of the hurdles and even jump some for you makes the process easier. When it comes to buying a new construction property, it is definitely to your advantage to use a buyer’s agent. Here are several advantages of using a buyer’s agent to represent you when buying a new construction property . . .
There is no fee.
That’s right – all of the work put in by the buyer’s agent is done at no cost to you. That is because with real estate transactions, the agent commissions are paid by the seller or in this case, the builder.
Your Interests Comes First. When working with a buyer’s agent, he represents you and your interests only. This means he works for you exclusively and has no interests in the seller (builder). He knows the tricks of the trade when it comes to buying a new construction home in a new development.
Assists with Many of the Details. Your buyer’s agent knows how tedious the entire process is and assists you with many of the details. From helping you choose the best floor plan and best lot to checking on the property during construction to reviewing all of the paperwork including Agreement of Sale, Title, and other documents, your agent is there to make sure your “I’s are dotted and your “T’s” are crossed.
Attends Important Meetings with You. Your buyer’s agent even attends the important meetings with you and is there to act on your behalf. Many of our clients do not currently live in the Myrtle Beach area. They are buying a primary home to move into or a second home that they will use as a family retreat. So when buying a new construction home in Myrtle Beach, it is imperative that they have an agent that can check on the progress for them. When working with builders and developers, it helps to have a representative there to make sure everything is exactly as you have anticipated and as they have guaranteed. If there are any issues, he documents and helps resolve them on your behalf and usually to your advantage. Basically, your buyer’s agent is there with you every step of the process.
Ensures You Get the Best Price with the Most Stuff. Many builders entice buyers with free options especially when they want to get people in the homes in their new community. When working with a buyer’s agent, you can sometimes not only get free options, but your agent knows how and when to up the ante by garnering upgrades and even lowering the price of the property.
Reviews Paperwork. One of the most important advantages, if not the most important, is that the buyer’s agent reviews all of the paperwork on your behalf. While he cannot express his opinion from a legal perspective, he knows what to look for to make sure everything is above board and as it has been agreed. Your buyer’s agent reviews Agreement of Sale, the preliminary HUD statement, title and the closing documents to make sure that nothing stands out or looks funny.
When considering whether to use a buyer’s agent with the purchase of a new construction property, the real question to ask yourself is “why would you not use a buyer’s agent?” You have nothing to lose and EVERYTHING to gain!