New Home Builder Knowledge Base
What if I use a real estate agent for new home builder on contract? We are in the process of writing a contract / signing a contract on a new home, from a decent size builder. I have heard a good tactic is to go in with a real estate agent I trust, and then have an agreement to split some of the profit with the agent, since as the buyer the price of the home wouldn't increase, but the seller (builder) would be out 5% or so of the home cost. Can someone confirm what an agent would get going into this contract with me (house is in IL and worth $307K)? Also, if I asked the builders in advance if they could make it worth my wild to NOT come in with an agent on the contract, what do you think is fair to ask them to do for me? Example I am thinking is to have them come down on the price of the home by 5K, or ask for them to stay at 307K, but throw in 5K in options free. Thoughts?
Is it normal for a New Home Builder to Charge Extra for Staining Hardwood Floors? I am buying a new home and it comes standard with red oak hardwood floors (not the prefinished kind). The builder informed me that the floors only come finished with no stain and just the coatings. If I wanted to get a stain it would cost $1800 for the floors and $1200 for the wood stairs and railings. Is this common practice or am I getting ripped off?
Where can I find out if a new home builder is good or bad? We are currently looking at new homes. I have 3 builders whom I am looking at. Is there any where I can check to see how these builders are rated, or what kind of reputations they have? One home I am considering is by Pulte Homes. I saw allot of negative things on some websites about Pulte, but not in my state Illinois. The other builders I am considering are Town and Country Homes, and Kimball Hill Homes. Is there any place that compares builders? Do you have any opinions on the builders I listed? Thanks
Who gets commission for a new builder home I have looked myself ? I have looked at a new home myself while I was driving on off the street. 1) Does the sales agent who was at the sales center who was showing me the home will get a commission if I buy the home from then ? 2) How much commission usually they get ? 3) Will I get good deal if I go through one of my own real estate agent ? 4) Or can I talk directly to the sales rep to see as how much discount will I be getting for the new home ?
What is the law about disclosing info about a home builder when selling a new home? We moved from Texas to California in June 2005. We have since found out that the builder of the new home we bought, is not a licensed contractor and built this house/pulled all the permits as owner/builder. We feel that we should have been told this information before purchasing the house; as there is some question about whether all the contractors he used are licensed.
Can anyone help me with negotiating a salary/commission package for a new home builder? Hi, I am about to receive my BA, have already obtained my R.E. license, and have several years of sales experience. I want to make the jump into a career in new home sales, but am not sure how to go about negotiating my compensation. I am planning on moving to the Bay Area to start my career, so I expect I will need to negotiate for a higher base salary. I have done a TON of research, but still don't know exactly what I can demand. Most positions seem to include: 1. $30,000/yr. Is this base or is this a draw? Can I negotiate for higher in the Bay Area? 2. 2 weeks of vacation a year. Is this standard or negotiable? 3. A commission. I've seen 1-2%; anyone had experience that could tell me how much to expect? I've also seen flat fees for sales and want to stay away from that, so if anyone knows which companies pay flats, that would be helpful. In general, does anyone have insider experience to help me with this?
Getting money back from a new home builder in MD? A couple of years ago my husband and I put down $10k for a new home to be built we never completed the process and later the property was unable to be built on. How can we go about getting the money back. My husband had been sick and I am just now able to follow up. Also what time frame do you have. Thanks in advance
Can a realtor go with u to a new home builder office after you already registered at the office? I am not sure if I registered at the office when I went to look at a spec home. I have decided I will buy the house but now prefer to have a realtor on my side through this process. I just dont know if maybe a realtor can help me get a better deal (advocate for me). First of all can he even go with me and help me out? If not why not? I understand the commission issue but is there anything else besides that?
Buying a new home: Is it cheaper to buy central air through your builder or after possession? We're about to buy our first home and we're planning on buying new. Builders have upgrades and to make the most out of our money, we need to know if it is cheaper to buy the central air unit through the builder since they're already installing the furnace, or should we wait till after we take possession and then have it installed after? From my research, I found that buying outside would be between $3500-$5000 - I don't know how much the builder would cost. (We're looking at Losani)
My new home builder changed the floor plan, I am not happy. Can I cancel and get earnest money back? We chose a floor plan option that had never been done by the builder. After starting construction they realized they would have to greatly reduce the size of a walk-in closet to make the necessary changes. We specifically chose the upgrade because of the enlarged closet. I would not have chosen this house if I knew it would turn out the way it has. They never even offered to get our input on the changes to be made. They just changed our house and expect us to be happy with it. What can I do?
Do I need to have a realtor when buying home a new home from a home builder ? I am looking at a new home which is a new construction and some questions: 1) Do i need to have a realtor when dealing with this purchase ? 2) Does it help having a realtor ? 3) Will I have more negotiating power if I have a realtor ? 4) Can I ask myself to lower the price or negotiate myself with the sales rep who is at the sales center ?
If you have a gauranteed sale with your "new"home builder and a mortagage? company will refinance my current home and give me an equity pullout line of credit to cover the down payment on my "new" house is this an okay solution to buying a new home without having to move and rent a home until my new one is finished being built. My new house will not be done until next year.
Do I need an agent when buying a new home from a builder? I want to buy a new home but not sure if I need an agent. The sales office told me that it doesn't matter either way and that it won't affect the deal because this particular builder does not pay commission to buyer agent. They said that whatever our agent gets paid is between us and our agent. I contacted an agent who told me that this is not true and the builder has to pay. who should I beleive?
Is a New Home Builder's referral gift/money given to a referrer taxable? I referred someone to a Builder and my friend will actually be purchasing the home. There is a referral gift offered by the builder in cash and I was told I would be getting a check when my friend settles on his home. Is this gift/money taxable? Who is responsible for this if it is ? Is this considered as other income? If it is taxable, will the money I receive be net of taxes or do I have to declare the taxes myself? Any help with regards to this would be greatly appreciated. Thank you.
Can I get my $6000 deposit back from a CA New Home builder (meritage) The market & my finances have changed. It's been over 90 days since the initial deposit and the house won't even be ready until Dec. 2007. I was never prequalified by their lender and thought I could get my money back if I don't qualify for a loan. The builder claims that I breached contract because I did not complete loan application and they will not refund my deposit. Can they keep the deposit. I know when you buy a resale home there are contingency removals that a buyer signs to forfeit any refunds of good faith deposit but not on new homes.
In MO, what rights does a owner of a new home have against the builder within the first year? Purchased a new construction home that the basement leaks. Builder has tried to fix several times and finally gave up. Had us contact a basement company to get an estimate on repairs. The company gave us a bid to repair which the builder said he would pay for. We have not had the basement fixed yet, because the builder won't give us the check. We were told that new construction homes have at least a one year warranty due to a law in Missour. What should we do since we have been trying for almost 6 months to get the builder to either fix the problem or give us the money to have fixed. We have other issues as well with the house but this is the most critial.
Is builder responsible for fixing new home that is not up to code? We are currently purchasing a new townhome and after the offer was accepted, we had our home inspection. The home inspector found several issues that need to be fixed due to shoddy building (like putting in a spa tub but not putting in the motor or an access panel and not hooking up the dishwasher) and stated that some things are not up to code (like the location of the upstairs dryer vent). Is it reasonable on new construction to expect the builders to fix these issues due to poor construction or should we be ready for a "split cost" situation?
Is the new home builder offering me a good deal? Is the new home builder offering me a good deal? I'm dealing with a Home Builder and they are offering me just over $20,000 in discounts plus help with closing costs which according to them would push the discounts up to $27,000 $20,000 off of the purchase price of the house and they would pay up to about $7,000 in my closing costs. The house was originally $250,000 and after the discounts, it drops the price down to $230,000 Can the builder do more then this? What is the 'norm' in this day and age for home builders to give to buyers? I am going to be putting down a good amount of $$ on this house as well so my interest rate should be pretty good not that probably has anything to do with it. I never dealt with a new home builder before so any help or ideas or suggestions would be greatly appreciated!
What should I upgrade with the builder for my new home? We just purchased a home in Canada and my builder charges a lot for upgrades so I just wanted to spend the money wisely on the upgrades. I know that's how the builder makes money on it but does anyone knows what are the things to upgrade with the builder and what can be wait to do it later? Any advice would be very helpful. Thanks all in advance! Hi,thanks for all the great infor. but I am more interested in the decoration upgrades advice, like kitchen countertops, flooring, tiles etc.
New Home Builder Incentive, they will buy my home? Anyone heard of this new builder incentive? I was wondering if anyone had gone thru this or heard of it. I wont have all the details until next week but here is what I know: In my purchase agreement for the new house he would agree to purchase my house for a specified (TBD) price if my house is not sold when we need to close on the new house. The agent thru out a number of 90% of SEV (state equalized value). Whether that number is true is a huge ??? in my eyes. Due to market conditions for new and pre-owned houses here in Metro Detroit builder seem to be doing anything to get people to buy new houses. Anyone gone thru this process, heard of this incentive? What is the catch? Is the builder willing to buy my house and possibly take a loss just to sell me a new house and continue building houses? Any advice on how to go about the meeting with the builder next week?
New Home Builder in Phoenix Needed.? My business partner is looking to develope a couple small homes in downtown phoenix. The only problem is that the contractors we know who work in the downtown area either specialize in condominiums or basic remodels. All of the new home builders we know would probably charge extra to come downtown. Does anyone know of a general contractor that works in the downtown area. We'll be doing smaller (about 2500 s.f.) single family residences that are a bit on the contemporary side design wise.
Who are the best new home builders in triangle NC? We are looking into buying a new single family home in the triangle area of NC. We are very interested in people's experiences with various builders and who they found to be quality builders in the area?
What can we do if we are unhappy with changes made to our new home by the builder- Andrin Homes? We bought with Andrin Homes and they have added in windows that were not on our orginal plan...the worst being is the small powder room- it now has 2 windows, one above the toilet that was in the orginal plan and a window twice the height of that one on the only wall between the toilet and sink- so much for privacy!!! We have called to complain but have been told there is nothing they will do....
Any advice for dealing w/builder of new home that's avoiding foundation issues leading to water & mold? Settled on new construction 4/7/06; builder rep said water in basement at walk through due to "pressure washing"; 4/21 faxed punch list stating crack in foundation letting water into basement; mid May contacted builder rep again & bilco door rep came by to drill in foundation & inject epoxy; dry for awhile then water again from same spot; sump pump runs constantly; faxed/emaied builder again with pictures 6/28; rep comes to house 6/29 & says will get foundation guy to look at (he never did); 7/6 found mold growing on belongings & basement steps to 1st floor; 7/7 builder rep says "a little mold is normal & he cleans it up; learn a neighbor who moved in mid-May has same problem 10x worse; builder "may" install french drain but won't fix foundation or pay for mold clean-up.
Question about the final walk through of a brand new home (staright from the builder).? -First off, this is a brand new home coming directly from thr builder (Ryland). We will be the first people toever occupy the home. -We have been walking through the house on a weely basis just to check the progress and mostly because we are really excited about buying our first home. While we walk through, we have noticed little "imperfections" here and there that have caused us a little concern. -Our final walk through is in about 4 weeks and my wife and I were both curious of how picky we should be? -For the most part, things look to be in great shape, but there is a door jam where the entire piece of wood is gouged (sp?) and chipped and splintered. On one of the air vents, there is noticeable gap between the vent and the ceiling. There are two small dents (the size of a half dollar) on the very bottom of the aluminum garage door a larger dent on the inside door that leads to the garage. -Should we expect them to fix even the minorist of impefections? Are webeing too picky?
are real estate agents allowed to represent a client while buying a new house from a new house builder? kin of confusing, our family is considering buy a new home from a custom home builder, we have been over there a couple of times spoken to the ladies working there, pretty much picked everything we want (design, lot etc). we were almost ready to go in and place a offer when we spoke to our real estate agent/friend and he told us to let him place the offer. is he allowed to do this, is there a advantage? or disadvantage?
What home builder is the best in arizona? we want to buy a new home. there are so many builders out there. which ones are good? Pulte? KB? I dont like Richmond American Homes. I would like to know what builder you have? what city your in? and if you like your home? is it falling apart? or is it built great? please let me know. we need to find a builder soon. Thanks im from phoenix arizona
Who is a quality affordable home builder in San Antonio and what is the best first step? My husband and I want to put our house on the market. We are planning to build a new home at Medina Lake where we own land. We thought we should find a builder and finalize plans before putting our house on the market. Not sure how the timing would all work. Anyone been here before? Our first choice of builder right now is Design Tech. Any opinions? BTW, we are looking for a custom home builder, not just a build-on-your-lot builder.
How long does a local home builder have to repair damage to my property? On December 13, 2006 a local home builder put 2 new houses across the street from me. They used an excavating company to dig a ditch and install a new sewer system in my Utility Right of Way by the road. They covered the pipes up and have not touched my property since. I told them I was going to sell my house in the Spring, and needed it fixed ASAP. Well since then, I have tried to contact them several times, called, stopped by their office and find out a time frame. Still, I see them drive past and look at my property, but never stop or call. It is now April 3, and no sign of any work going to be done. I just received an estimate for $2750 to have it repaired. Everyone who comes to look at my beautiful house for sale asks about the damage up front. WHAT DO I DO? Is there a certain period of time they have to repair it? Do I take them to small claims court? I live in Ohio and it is now spring. Need help ASAP, my house is for sale and my property looks terrible.
who is the best home builder in melbourne australia? i am looking to build a new first home and i would like to know who is the most reliable home builder. apparently i have absolutely no experience in this field and i just hope that people can share their experience so that i can make the right choice. i heard some builders rip people off by using cheap materials and having lots of problem with the house few years down the road is probably the last thing i need. thanks in advance.
My home builder filed for Chapter 11, what does that mean for me? I was getting ready to have a home built by Gemcraft Homes but I just found out that they filed for chapter 11 bankruptcy. Should I proceed in building my home at the negotiated cost or find a new builder? Will this hurt the value of the neighborhood? Also does this mean that I will get less quality if I choose to have them still build my home?
Can a home builder refuse to return my deposit after not building the house? Last November 2006 I signed an agreement with a home builder to build a house for me and my family in Laurel, MD As part of the agreement, I deposited $25,000 for the home + another $10,000 for options. The contract stated that the home was to be ready by May 2007. - In April, they told me it will be ready June - In June they told me late July or early August - Now they are telling me, they don't know when it will be ready ... that maybe the second quarter of next year. They are still building the first house and they say it is the model and until they finish that one before they can start any other house. My question is: Can he legally keep my deposit? P/S: There is no clause that says he can keep my deposit. I have ready over the agreement several times and there is nothing. I am supposed to be out of my condo by December, and I have a 6 month old son and a wife (who is still in college). It took me over siz years to save this money.... Any good lawyers out there? I did everything they asked for, the deposits, the loan approvals etc. Now they are telling me I will have to forfeit my deposits. The State is Maryland. Laurel is the city in PG (Prince George's) County
How to ask the builder to lower the price of a new home? My parents are going to buy a new home so I want to save them some money by helping lower the price by talking to the builder. So anyway the price of the home is $429,000 How low should I tell my to go and we are very nice people so it's hard to argue a lower price can you all give me tips on how to be assertive to the builder I live In Northern VA. Thank you.
Custom Home Builder in New Jersey? Hi - where can I find a Custom Home Builder in New Jersey? Building a custom home can be overwhelming - and I need to ensure I work with a professional supplier and I am open to suggestions in terms of design and development. Hopefully someone here can point me in the right direction. Thanks, Mary
I want to be a home builder, and how would i start off? I have done a home build already through my school. Through that i got my apprenticeship paper signed for electrician, and go to school and all that. I want to become a builder, but first i want to get my electrical license, since for being a builder there is no license. How should i start? Is there any type of certificate i need; for knowledge in building houses?
What is the income potential as a sales associate with a home builder? I have my Real Estate license in FL and considering applying for a position with Ryland homes...but no one can tell me how their pay structure is. Is it commission based only? What is the average income potential for this position? Is it better to be an independent contractor or work with a home builder? Thanks!
What are some questions I can ask a home builder? This question is not for the financing aspect of building a house, just questions for the builder. It is a well known home building company with a good reputation and I need some help on what questions to ask reguarding the process and the house itself.
any preference for a home builder? We are looking at buying a new home from centex and I was wondering if any one had a good or bad experience with any home builder and how things are going now.
Home Builder not following contract specs SEER 14 vs SEER13 ac system? Our new home is almost done and our contract states that a see14 ac system is to be installed. When we checked the tags on the system it clearly states that it is a seer 13 system. When asked our builder states that some components have been upgraded to achieve the seer 14 rating--not to worry and he will provide a dealers certificate stating the 14 rating. We are having a hard time accepting this explanation--please any advice as to how to proceed--thanks in advance!!
How to become a home builder in Toronto/Ontario? I need to know how and what steps need to be taken in becoming a home builder in Ontario or more specifically the Toronto area. What certificates and licenses are required and which ones are optional? How to best approach the alternatives in achieving this goal? Which courses or programs are required to be passed in this process? Do you need a university degree in the area before applying? And anything else that needs to be completed in this journey… That's what I thought but then the Tarion website says the following for part of the requirements: Copy of Diploma or Certificate for completed industry related course, if applicable
Can I force a home builder to take a problem home back? Like a "lemon" car? I bought a home that is still under warranty. Recently I have discovered that issues I'm dealing with like basement flooding, poor plumbing etc. is being dealt with by other owners in the community. While fixing it is great, some of the CAUSES of the issues aren't being fixed. Hence I want out. Can I force a builder to buy back a property that is obviously a lemon?
How much profit is in a builder spec home? Looking at a spec home in a large development that is not selling well. They already discounted it from $249k to $207k How much profit is there in these homes? How desperate are builders to get rid of these homes? Will major home builders majorly negotiate the prices down even further, or do they stick to their asking price?
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