The best decision you can make is to sign on with a Realtor who will negotiate on your behalf and who is familiar with all the ins and outs of buying and building a home.
For most peole buying a home is the biggest investment they make. Having a professional crossing your T's and dotting your I's will ensure success.
Building a home requires lots of details and envolves thinking ahead many steps - just planning on where to place a cable outlet or how high should the bathroom vanities be - where should I put extra recessed lights - am I responsible for landscaping?....The list goes on and on.
Good luck - building a home is very exciting!... more
Most real estate contract have a few execution points where in if you terminate the contact within the dates specified you will get your escrow deposit back.
A contract can have a mortgage contingency date - where if you do not qualify and you notify the seller that you do not qualify during the dates specified in the contract your deposit is protected.
A contract can have an inspection contingency date - where after conducting a home inspection by a licensed home inspector and the house is not up to par and you are within the dates specified in the contract your deposit is protected.
A contract can have an appraisal rider - which would protect your deposit during the dates specified in the contract your if the home did not appraise.
A contract can have a home to sell rider (also called a Hubbard clause) it may have an Attorney Approval clause or Well / Septic contingency...Long story short read your contract and know your dates. If you are within your dates specified in the contract - then the sellers must also follow the contract. If you are not within your dates - call your realtor and your real estate attorney TODAY!
Some detective work will be required to answer this question fully. The most important determinant of price for a new construction is the size of the lot and the square footage. The "model" factor has more to do with the layout than with price. Although some models can be more difficult to build, the price difference is not that big. Most of the time you can figure out the size of the lot and eye ball the size of the home.
Furthermore, you should know the base price for homes the builder is selling. The rest of the cost are the options that are once again relatively similarly prices (usually). In my experience, the builder, or the sales rep, rarely has much flexibility on the base price but a lot more on the options.
Finally, we can pull up land records to see how much similar homes sold for in the area and combine it with the lot sizes and the home sizes that we can dig up. Feel free to send me addresses of new homes that recently sold and I will see what I can come up with. PassportVlad@gmail.com... more
In addition to the answers you received below, also know that you should sign a DUAL AGENCY agreement (if you agree to it) with a broker/agent if they show you a property that they have listed - even if you already have a Buyer Agency Agreement with the broker/agent. Otherwise, the broker/agent are technically representing the seller when they show you the property bcse they already have a signed listing agreement with that seller.... more