Many home buyers will only buy a new construction home. Buying an existing home might mean possible upgrades and de-personalizing the space over the cost of buying the house. However, there are things buyers should know about buying new homes for sale in Colorado Springs.
Builders use their own people like sales agents and lenders to protect their interests. They’re in business to make money, so buyers’ rights or interests are of little interest to builders. Hiring a buyer’s agent from the beginning protects your interests.
A caveat to this is that builders usually pay buyers agents. If the rare case happens that the builder will not pay the agent, then the agent might be able to negotiate their commission by perhaps building it into the sale price.
Buyers agents like Ramona Williams of the Keller Williams Partners live here. They know almost all the builders and have worked with them. Buyers agents know not to let you see a builders home alone; you could be pressured into signing something without representation.
Ramona also knows the times of year it’s best to buy. She’ll know when times are slow, and you’ll get the best deal you can at those times. She’ll also know to get the builder’s model home for you. This is the home jammed with the best upgrades and options. It will be gently used, as it was used for the community office.
Those buying new homes Colorado Springs under 250k will want to take the purchase contract to a real estate attorney. These contracts aren’t composed with the buyers interests in mind. Your attorney will go over the contract and negotiate clauses for your protection. Besides, your state’s laws could make a real estate attorney necessary.
Contingencies and cancellation rights are things buyers should know about. Make very sure you know what your liabilities and commitments entail.
One thing for which buyers of new homes Colorado Springs under 300k have gone into court is materials used by builders containing hazardous chemicals. Your contract might contain language about health issues, and it’s for the builder’s protection. Make sure your lawyer explains this to you.
The first thing you’ll need to know is if your lender will cover 100 percent of the upgrades or options you’ve picked out. You’ll be paying in cash if your lender won’t pay for them.
Sometimes materials can’t be returned to manufacturers or vendors. You need to know if you’ll be liable for these as well as cancellations. Also keep in mind that builders choose upgrades if you don’t get your preferences in in time.
The builder’s lender is all about the builder. In some cases, the builder owns the lender’s company. If there are no incentives or considerations to using the builder’s lender, then you won’t get the best deal on new homes for sale in Colorado Springs.
You need Ramona Williams of the Keller Williams Partners. She’ll have your back. She’ll also know of other lenders that can help you. There are other lenders, of course, like your own credit union or bank, so take a look around.
The lender you choose is required by law to disclose its fees.
Be prepared with copies of your credit reports and FICO scores. Before you hire Ramona to show you new homes Colorado Springs under 250k, order these and have them in hand.
Don’t just take the builder’s word for it; hire an accredited, licensed home inspector before you sign any papers. Your contractor uncle or a friend isn’t right for this job. Also find out if the inspector is licensed to address any and all issues.
Some of the issues are serious. If you’re paying for new homes Colorado Springs under 300k, you’ll need to know the HVAC system is zoned properly for the square footage of the house. You might need an extra unit. The wiring might not handle the electronics and appliances you move into the house. Just coming up to code isn’t good enough; the house has to be properly wired and plumbed.
The inspector might ask for an inspection by another professional. This could mean problems with the house. That’s why we wrote that the inspector should be licensed to address any and all issues. Don’t make a move until any problems with the house are corrected, and the house is re-inspected.