Tag Archives: seller
by Amit Paul
Today most buyers who consider a resale home are increasingly educated in all facets of the real estate transaction, from the research to the viewings to how much they should be paying and the sale process itself. This knowledge has as much to do with the Internet as it does with a good buyerâ€™s agent – a realtor who acts specifically on behalf of a buyer.
However, in my experience, the same isnâ€™t true for those looking to purchase new. It seems that buying from a builder has a stigma of helplessness attached to it in terms of what the buyerâ€™s rights are and what they can and should expect in the process.
The first thing I recommend to all my friends and inquisitors who are looking to purchase new is to seek the aid of a qualified realtor – someone who comes highly recommended from a trustworthy source, even after the sale has closed. Finding a realtor who meets this criterion can be challenging, but rest assured they do exist!
What many buyers donâ€™t know is that purchasing via a buyerâ€™s agent can be a huge advantage. The fact is that, contrary to popular belief, the builderâ€™s terms, contracts, deposits, restrictions, and so on are all negotiable. What you need is a skilled and trained negotiator who can not only make sense of the phone-book sized documents presented to you, but is also familiar enough with the process to make the alterations that protect you as much as possible.
Yes, you read that correctlyâ€”buildersâ€™ contracts are not written in stone. Iâ€™ve worked with builders on numerous occasions, both directly and through buyers and sellers, and if thereâ€™s one thing Iâ€™ve learned itâ€™s that theyâ€™re just as human as the rest of us. Theyâ€™re understanding, willing to negotiate, and reasonable. The key lies in negotiating from a point of legality and sensible argument rather than emotional or subjective contention. When understood in this light, itâ€™s easy to see why a realtor comes in handy when purchasing new.
Of course, as is the case with resale, your buyerâ€™s agent would receive compensation from the builder, so thereâ€™s no financial loss to you. Also, the commission the builder pays to your agent cannot be taken off the purchase price if you go it alone. Remember, itâ€™s all about legality – a commission is a tax-deductible expense, a cut in purchase price is not.
Everything from square footage variances, timelines, construction quality, design, appliances, potential fees, and everything else involved in the contract is subject to negotiation and should be put through the wringer to obtain maximum benefit for you. It only takes someone with the right influence and experience to find that perfect deal.
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