New Construction - You need a Realtor!
Here are some reasons why. . .
- The builder's contract for purchase represents only the interests of the builder. Often, there is no requirement that construction be completed by the settlement date. Also, there is usually no penalty if the builder fails to meet dates. This can be a serious problem for buyers when they need to vacate their existing home by a certain date. Also, the builder's architect decides if the material and workmanship complies with the contract.
You are not saving money by not bringing an agent to represent you. The builder pays the realtor's commission when you are represented. If you have no agent, the builder adds this commission to his profit, it is not refunded to the buyer.
Contract may provide "Reservations of Rights" by the builder. This means the builder has reserved rights to access your lot and can create easements or additional rights of way across your lot (even after settlement).
Financial incentives stipulate the builder selects lender and settlement agent. This may mean you are not getting the best deal. Is the lender's rate competitive? Are the settlement fees reasonable and customary?