First Things First
Don’t even stop by a new construction development without your agent. The builder pays real estate commissions, so they need to know right from the start that you will be represented.
The builder will have a real estate agent, called the builder’s agent, representing them and their best interests, so you should have a professional as well. New construction can seem straightforward on the face of it, but it’s actually as complex as buying an existing home, if not more.
Contracts and Fine Print
An experienced Realtor® can help you decipher the new construction paperwork, which, if the home isn’t yet built, is significantly more complex than the contract to buy an existing home.
Your agent will know what to look for to make sure the contract doesn’t favor the builder’s interests over your own. They’ll look out for things like the “change of work” clause—which explains how a builder can change the project and how you’ll be notified—making sure it’s reasonable and fair to you. They can also help you find the best lender—which may or may not be the one the builder recommends—and ensure that the builder’s payment schedule meshes with your loan structure.
Upgrades
The advertised price for new construction is typically for a base model, and upgrades can get expensive very quickly. It should be made very clear to you what the standard inclusions are and what would be considered an upgrade. Agents can also potentially negotiate some selections or changes upfront to avoid complications later. In addition, your experienced agent will help you clearly communicate expectations on the time frame of the project and what you can anticipate during the various stages of construction.
Inspect to Protect Yourself
You might not think an inspection is important for a new build—how could anything have broken before it’s been used? But mistakes happen, even with great builders who have stellar reputations. Your agent will help you find an inspector and advocate on your behalf to make sure all the problems are addressed before the closing.
At PureWest, we want every real estate transaction to be a positive one, whether you’re selling a home you’ve lived in for 30 years or buying a sparkling, newly-built home. Our team of Realtors® has the expertise you need to make smart decisions and help you consider all possibilities. We work hard every day to set the real estate standard across Montana, and we're here when you need us.
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