Hi CB-

The Realtor below is from another state and probably be focusing on his local market rather then advising a NJ buyer on home buying and the process in NJ. Some agents just want to be "the first answer" and give generic answers to quesitons.

This is new construction. If the "Listing Agent" is a Realtor.. meaning like a Coldwel Banker or Orange Key Realty, then the agent is pobably getting a minimal fee for listing the property on the MLS for the builder.. if you go to that agent, they will write your initial offer and then probably turn you over to the builder anyway after the negotiaion process. -or- you can get an agent outside the listing agent and negotiate the price with the builder for you also. I would advise you to speak with a Realtor that will find the information on the builder and what is included and so on.. then make an offer and let the realtor negotiate on your behalf.

Call or EMail to discuss further.

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

JSacktig@orangekeyrealty.com

Hello Cb1999nj,

As I stated before a Realtor can potentially provide builder information, prices, etc. for new builders that you may not be privy to. However check out the following sites and links as a very good reason to have any new build purchase contract reviewed by a licensed Attorney. They are not meant to scare you but instead to provide insight as to what you need to know, especially as a first time home buyer.

http://www.hadd.com/index.php
http://www.rateyourbuilder.com/
http://ripoffreport.com/
http://www.constructiondefects.com/pr_index.asp
http://builder-implode.com/
http://www.contractorsfromhell.com/?page_id=21
http://moneycentral.msn.com/content/Banking/Homebuyingguide/…
http://www.asynconhome.info/housewrecked.pdf
http://www.njlawblog.com/mark-m-wiechnik.html
http://www.foxrothschild.com/uploadedFiles/mcCloskey_lormanN…

There are many new home builders who are reputable and try to provide you a quality new home. The fact is though that when the proverbial poop hits the fan and a construction defect is found the consumer has all of the deck stacked against them. This is generally accomplished in the purchase contract you sign.

As I stated before, unless a RE Agent or Broker is also a licensed Attorney they generally can not provide you legal advice. You will find this out when you ask them an out and out legal question and they tell you to "consult a lawyer". As I stated before a RE Agent can obtain some very good information for you and provide many helpful services. However, if you doubt the potential need for a licensed Attorney on a new home build then when you are picking your Agent ask them one question. Ask them if they are licensed to provide you legal advice if there is a question with your purchase process, whether it is the contract or other legal aspects.

Good luck on your home purchase.

Emmanuel J. Scanlan
PS Inspection & Property Services LLC http://www.psinspection.com
214-418-4366 (cell)
TREC License # 7593
International Code Council, Residential Combination Inspector #5247015-R5 (Electrical, Mechanical, Plumbing and Building)
Certified Infrared Thermographer (ASNT-TC1A Standards)
Texas Residential Construction Commission, Third Party Warranty Inspector #1593
Texas Residential Construction Commission, Inspector, County Inspection Program
Texas Department Of Insurance, VIP Inspector # 08507061016
Hayman Residential Engineering Services, Field Technician
CMC Energy - Certified Energy Auditor

Knowledge is power, but sharing knowledge brings peace!!

Hi CB-

The Realtor below is from another state and probably be focusing on his local market rather then advising a NJ buyer on home buying and the process in NJ. Some agents just want to be "the first answer" and give generic answers to quesitons.

This is new construction. If the "Listing Agent" is a Realtor.. meaning like a Coldwel Banker or Orange Key Realty, then the agent is pobably getting a minimal fee for listing the property on the MLS for the builder.. if you go to that agent, they will write your initial offer and then probably turn you over to the builder anyway after the negotiaion process. -or- you can get an agent outside the listing agent and negotiate the price with the builder for you also. I would advise you to speak with a Realtor that will find the information on the builder and what is included and so on.. then make an offer and let the realtor negotiate on your behalf.

Call or EMail to discuss further.

John Sacktig
Broker / Manager
Orange Key Realty
Office: 732-863-6969
Cell: 732-213-1409

JSacktig@orangekeyrealty.com

Hello Cb1999nj,

The listing agent is there to represent the seller and has a duty to work any deal to the seller's best advantage. So no, do not count on the listing agent to look out for your interests as well.

As for using a RE Agent for new construction you can certainly do that. Some Agents might be aware of builders and their current situations, offers, etc., that you might not be. Builders might state that they will give a discount if a buyer's agent is not used. However, the truth is they will make it up in one way or another. So using a buyer's Agent can not hurt.

In my opinion though I would have an Attorney available before you sign any contract with a new home builder. RE Agents can not provide you legal advice, unless they are also an Attorney. In general a new home builder's contract is going to be loaded with "gotcha's". A good real estate Attorney will know what they are and keep you clear of any trouble.

Two more things to be cautious with. Check out the builder very carefully. That should include their financial health, is the company on your contracts the main parent company of the builder or is it just another holding company. Naturally in this climate many builder's are experiencing financial pain. It is becoming more common to see builders fold up shop and go out of business. A common occurrence is for a major developer/builder to create smaller companies and use them to sell the homes. If the proverbial poop hits the fan they claim bankruptcy, fold up and leave buyers with nothing to turn to if there are problems with the home. Here is another good area a RE Attorney can help you with.

The second item is always get a home inspection, even on a newer home! I've done newer homes with $25K+ in defects and issues requiring repair. You want those repaired before closing. After closing you lose A LOT of leverage with builders.

Good luck on the house hunting!

Emmanuel J. Scanlan
PS Inspection & Property Services LLC http://www.psinspection.com
214-418-4366 (cell)
TREC License # 7593
International Code Council, Residential Combination Inspector #5247015-R5 (Electrical, Mechanical, Plumbing and Building)
Certified Infrared Thermographer (ASNT-TC1A Standards)
Texas Residential Construction Commission, Third Party Warranty Inspector #1593
Texas Residential Construction Commission, Inspector, County Inspection Program
Texas Department Of Insurance, VIP Inspector # 08507061016
Hayman Residential Engineering Services, Field Technician
CMC Energy - Certified Energy Auditor

Knowledge is power, but sharing knowledge brings peace!!