THE ADVANTAGES OF BUYING A NEW HOME
In this economic atmosphere, the prospects of getting a good deal may lure you toward buying a short sale or REO. While up-front costs may seem lower on an REO or short-sale, buyers often end up paying in other ways. Here are seven considerations to buying a new home to think about:
1. NO REPAIRS. With a short sale or REO, the previous owner may have stopped maintaining their property. That means you could end up with expensive repair bills. But new home purchases often include builder warranties for workmanship, materials and structural problems to help protect you against large out-of-pocket repair expenses.
2. NO SURPRISES. With a new home, what you see is what you get. With an REO or short sale, what you might not see is what you get. New home purchases often come with many disclosures from the seller, though in reality, very little may actually need to be disclosed. For REO transactions, not only is the bank exempt from some of the disclosure requirements for sellers under
3. GUARANTEED QUALITY. New homes are usually built with modern conveniences and energy-efficient technology. They may also come with warranties for craftsmanship, appliances and more, to give the buyer peace of mind. Short sale and REO properties may not come with warranties or upgrades and may not be available for inspection prior to purchase, so you could be in for some expensive surprises after purchase.
4. FRIENDLIER FINANCING Homebuilders often have relationships with lenders that help buyers obtain financing for new homes with relative ease. For short sales and REO’s, the property may have a lower price tag, but some buyers may run into difficulty getting financing.
5. SHORTER PURCHASE PROCESS. Homebuilders usually have homes available for immediate occupancy or on a move-in schedule that’s convenient for you. Negotiating a short sale can take several months — and there’s no guarantee your offer will be approved.
6. VA LOANS. Due to the seller’s costs involved with a Short Sale, REO or regular sale, your purchasing options are greatly reduced. A new home community usually covers VA loan costs without question. There is no delay in finding out if your offer will be accepted.
7. TAKE A REAL ESTATE AGENT WITH YOU ON YOUR FIRST VISIT. Please remember, a new home salesperson represents the builder first. A Real Estate Agent represents you. We know the communities we live in and what is available for you. We also help negotiate all the terms for you. So, if you want the best deal with the most concessions, please take us with you. Real Estate Agents make the transaction smooth and worry free. If you sign a registration card without a Realtor you rely on the builder’s agent to represent you totally.
If you would like more information about one of our best Westside Builders contact Susan at sbolin@Beazer.com and tell her Frank & Jan referred you. We will work with her to assure the best deal possible for you.
Century 21 and Beazer are separate entities; each is individually responsible for its products, services and incentives.