New Home Preview
BUYING A NEW HOME IN LAS VEGAS
WHY A REALTOR?
With over 1000 possible models to view, searching for a new home can be a daunting task. Every month there are dozens of new models from which to choose. These are generally located on the outskirts of town often on new streets which don't appear on any city map.
Building progresses in phases, each phase consisting of 6 to12 adjacent homes. As each new phase is opened there is usually an increase in price. So there is often a considerable difference in price between phase 1 and a phase 10 homes. Obviously, a prudent buyer should look for a home in a newer development rather than a so-called "close-out-special". Even before the model homes have been constructed some building lots have been pre-sold.
I want to help you locate the most suitable home. Before I take clients on a new home tour I do my homework investigating all possible models to view and eliminating homes that don't suit your needs.
I base my research on the information you give me. So the more can supply, the better my research will be.
THE RIGHT QUESTIONS
Upon entering the builder's model homes you will be given a price list and a booklet of floorplans and elevations. What's an elevation you may ask? Well that is one of many questions that should arise. Others may include:
Since the home that you order has probably not already been constructed, it's very unlikely that your price will be the same as on the price list (remember the previous mention of phases). As a matter of fact, the only thing that will secure a firm final price will be a signed contract. Even then there is the matter of upgrades. Depending on your tastes, these can add thousands to the purchase price. The most common three upgrades are flooring, kitchen cabinets and counters. We also want to know the builder's policy concerning cash deposits on upgrades. In this regard there may be some advantage in using the builder's lender.
YOU WILL HAVE AN AGENT WHETHER YOU KNOW IT OR NOT
Most Las Vegas builders cooperate with realtors. That is to say, they will pay a commission to a realtor who brings a buyer to them. When visiting a builders models, you will notice a sign stating that YOUR REALTOR MUST ACCOMPANY YOU ON YOUR FIRST VISIT. What the sign does not say (and should) is: "In the absence of a client's realtor, we will assume that role acting for both the builder and the client". Since the builders and clients have adverse interests, ie. the client wants the best deal and the builder wants the most profit, this sort of arrangement is not advantageous to the buyer. Having your own realtor does not cost you a penny more and may in fact save you money in the long run. At the very least, you will have a professional representing you who is looking out for your best interests. If you visit models on your own, the builder will ask you to fill out a registration card. Whether you have done this or not the builder's sales staff will claim that they have established an agency relationship directly with you and this will make it difficult (or impossible) for you to bring your own realtor on subsequent visits. And in case you're wondering, the builder will pay your realtor the same commission as he would earn resale home.
STEPS TO PURCHASE
AFTER THE CONTRACT