Thinking about downsizing to new construction? Before you head out to visit the builder’s model, find out why you should hire a professional real estate agent to represent you before it’s too late!
Downsizing to New Construction
New Construction is one market that is pretty hot right now. With the higher interest rates, many builders are offering incentives, especially on homes that are completed or near completion such as below market interest rates and other financial incentives such as providing funds toward your closing costs or upgrades if you use their lender and title company.
How we can help when you are downsizing to new construction
See all the New Construction Options. You know you want a new home, but when you walk into a builders model, you are only seeing the lots and homes that particular builder offers. Your agent can show you all of the available lots in the area and can introduce you to multiple builders and models so you can make sure you are picking the builder that can build you the home you want, within your budget.
Be Represented. Do you know that the builder’s rep typically only represents the rights of the builder? Hiring your own agent first ensures that someone has the fiduciary obligation to represent your best interests. Without hiring an agent, you are on your own.
Know your rights. Most builders have their own purchase agreements and addendum, designed to protect the builder. Without having an agent, you may be signing a legally binding document that you don’t understand or even worse, has you giving up your rights unnecessarily. Also, your agent will have insight into when
Know what to expect during the transaction. An experienced agent has been through this process many times. They will let you know what you can expect during the home building process will alert you to red flags along the way. An agent will also help keep the entire process on track.
Work with the same agent to sell your home. Many new construction home buyers need to sell their current home before they can start the building process. Your agent will help you time the market and price and stage your home appropriately to keep you on track to reach your new construction goals.
If you are interested in purchasing a new home in the Twin Cities contact Myra at BRIX Real Estate today.
