In recent years, new construction homes have become the most attractive sector for real estate investment. Buyers are not confused by the higher prices, because in return, they get excellent quality. A new house or apartment is an opportunity to choose an area with excellent infrastructure, modern style decoration, and equipment with powerful household appliances. In new homes, the owners are provided with a guarantee from the developer. If, after check-in, you find problems, the contractor will fix them free of charge.
Real estate newbies often ask the same question: do I need a realtor to buy a house? In this article, we will give a clear answer, as well as explain in detail why.
The value of a real estate agent in buying new construction
If you are interested in the real estate sector, you have probably compared the advantages and disadvantages of new buildings and old houses. If you think buying a project under construction is easy, you have never talked to a professional contractor. After a lot of technical information, cost estimates, and unreasonably high prices, you will want to have a personal lawyer. Still, asking yourself: do I need a realtor to buy a new home? We answer: even by paying for a professional agent’s services, you will save from 10 to 15% at the end of the transaction. After these numbers, everyone agrees that this approach is reasonable.
Moreover, the real estate buyers agent can offer you additional options that you have not thought about before. And another plus of cooperation with an agent is his influence on the developer. Realtors help sell about 70% of all new buildings. It doesn’t matter if it’s apartments or offices. A professional realtor in a place like Tennessee for sale can even influence the construction company and persuade you to sell the object to you (at a price that suits both parties).
Why do you need to work with an agent from the beginning?
At http://inew-homes.com, users will find many great options to buy. We are confident that you will do a great job with this. But do not deprive yourself of the opportunity to conclude an even better deal.
When buying a house, do you need a realtor? Definitely yes! The construction company dreams of investing a minimum of funds and getting the maximum return. And inexperienced investors won’t notice the small details. Everything can function correctly, and the finish looks great. But you are sure that you know the cost of building materials and the price of their installation. It is effortless for beginners to slip cheap materials, passing them off as expensive ones.
In addition to thoroughly inspecting the building, your real estate agent will ask you to think about the following things:
• If you want to sell this house in the future, how much will it cost?
• Can you make changes to the decoration or layout during the construction phase?
• How much will it cost you to modernize your home?
• How cost-effective is the improvement? Will they increase the final value of the house for future buyers?
Also, realtors interact with contractors if construction companies do not meet the deadline stipulated by the contract. They remind builders of the existence of a penalty fee. Also, the realtor will stop you in time from signing a contract, which contains a clause stating your waiver of the right to file a lawsuit.
Other difficulties that lie in wait for you when making a deal
Without an experienced realtor, buyers often settle for inconvenient or unreasonable payment schedules. In most cities in the United States, the contractor is not allowed to take an advance payment above 33%. But your agent can negotiate 20%. Also, the payment schedule may conflict with a bank loan or your salary payments. If you miss this point, you will experience difficulties for an extended period.
Changes in the scope of work are another critical aspect of the contract. Many construction companies include the force majeure section, the increase in prices from suppliers, or the departure of employees on sick leave. Contractors also often impose additional services and charge them unreasonably high rates. At the same time, buyers do not know how to issue a refusal correctly. Conversely, you want to make even minor changes to the project, but do not know how to capture your wishes.
A competent real estate agent is your lawyer, financier, and psychologist all rolled into one. He will help you choose the best option, arrange the documents correctly, and save money.