Six Ways a Good Partnership Can Help You in a New Home Purchase – The Relationship between the Buyer, the Builder and the Realtor
Once upon a time in my career, I used to work for a Builder, and I learned a lot about the new home industry and the way that Builders work. Builders would much rather deal directly with a Buyer than to have you be represented by a Realtor. If you hire a Realtor to represent you in a new home purchase, the Builder pays for me to represent you. It has the beginnings of an adversarial relationship – the Builder is paying ME (the Realtor) to negotiate for YOU, and in some cases I will be negotiating things that the Builder just doesn’t want to do. You could see how that might not go well.
When I’m working with a Builder, I try to take a different approach. While always advocating for your best interest, I position myself as a partner to the Builder. We all have different roles in the transaction. The Builder’s role is to deliver the home in a timely and wo
rkmanlike manner. Your role is to communicate your preferences to the Builder, and secure financing for the home. My role is to facilitate the transaction, ensure that you are paying a fair market price for the home, and educate you throughout the process so there are no surprises.
There are so many advantages to taking this approach. Here are just a few of the ways you can benefit from a good partnership in your new home purchase:
- A smoother transaction – with any new home build, there is the potential for delays. I know the right questions to ask about how to get the things back on track. I can also help negotiate a solution for you if the project is delayed.
- Better customer service – you’re probably not a Builder. You may or may not know how to read a site plan, but I do. I can look at a plan and tell you how the home will be sited and where the easements will be. I can give you advice on where to build your fence. The Builder’s Representative may or may not know how to read the plan, and may or may not be willing to help you. It all just depends on the level of experience and service that the Builder’s rep is able to provide. When you select me to represent you, you know the level of service you will receive.
- Protection from the unknown – Does the home have a well? Recently, I helped Buyers purchase a piece of property where the well had not yet been installed. What would happen for these Buyers if the well didn’t meet the county’s required minimum yield? We were able to negotiate a contingency to the contract that the well had to meet or exceed the county’s minimum yield rate, or the Buyers could walk away from the lot. Had we not negotiated that contingency, the Buyers may have been left with a non-buildable piece of property, and no recourse. There are any number of scenarios in new construction that can leave you unprotected. Hiring a Realtor who knows them, and knows how to ask for contingencies can go a long way in protecting your interests.
- Understanding the timeline – in new construction, there are several deadlines that have to be met, and several decisions you, the Buyer, will have to make along the way. I will be present for all of your walk throughs, including the pre-construction walk through, the pr- drywall walkthrough, the pre-electric walkthrough, as well as for your final inspection. At each step of the way, there are certain things to look for that the Builder has completed. If the Builder is behind schedule, it may begin to become evident at these inspections. We can tackle the delays as they become apparent, and make a plan to address them.
- Post settlement – the Builder typically offers two walk throughs after settlement – a six month walk through, and a one year walk through. Do you know what to be watching for during that time to bring up with the Builder? Do you know what is included in your warranty, and what isn’t? I can help you understand your coverage, and can give you advice on what to watch out for.
- And anything else that might come up – if there’s one thing that’s true for all new construction, it’s that what goes unasked, goes unanswered. You might get so caught up in selecting your granite that you forget to ask some fairly important questions. Such as what are the plans for future development in the neighborhood? What are the plans to deal with traffic during and after construction? Will sidewalks be installed by the Builder … and when? Are there plans to include low or moderate income housing in the development? What about income producing properties such as apartments or rental townhomes – are there any planned for the neighborhood? So while you are reviewing finishes and fixtures, and considering all of the decisions that will make this home uniquely yours, I will be the one to remember to ask the other questions that will help you determine if the neighborhood is the right fit for you.
If you’re thinking of purchasing a new home from a Builder, such as the new homes being built in the Villages of Turf Valley, give me a call at 443-250-6618. I’d love to provide you with excellent representation, and provide you with the benefits that a great partnership between Buyer, Builder and Realtor can bring.-Tim McIntyre, Realtor Howard County, Carroll County, Baltimore County For more information about Six Ways a Good Partnership Can Help You in a New Home Purchase – The Relationship between the Buyer, the Builder and the Realtor, fill out the form below. We're happy to answer your questions! [contact-form-7 404 "Not Found"]
Six Ways a Good Partnership Can Help You in a New Home Purchase – The Relationship between the Buyer, the Builder and the Realtor 2013-11-07 12:09:53
Tim McIntyre, GRI, Ellicott City Realtor, Catonsville Realtor
Helping Clients Buy, Sell and Invest in Howard County, Carroll County and Baltimore County for more than 25 years.