Tips For Buying New Construction in Arizona

Tips for Buying New Construction in Arizona

It may be a long time since your first day of school, as you trotted off with a flashy new backpack, a new notebook and pre-sharpened pencils. And, it’s also been a long time since you came home with assigned homework.  Who knew that you’d be doing it, again?

DUE DILIGENCE

A happy, satisfied and fulfilled buyer of a newly-constructed home is someone who has done their homework and research, as thoroughly as possible, from the ground, up! This is called applying due diligence —  checking, verifying, interviewing, comparing, the credentials and track records of professionals and service people who build homes and the people who ultimately sell them.

Sounds like a lot of work, huh? Buyer representation can help facilitate every aspect of this process for you.

Recent trends in today’s real estate market show a revitalization in the construction of new homes, specifically in the Tucson area, which was hit hard with market down-turn. New builders were impacted with an onslaught of foreclosures and short sales. Having buyer representation is a smart, secure way of directly obtaining the kind of information that you need to have.  Of course, you are advised not to disclose any information you want to be held in confidence, until you make a firm decision about who you choose to represent you.

Home Buying Misconceptions

• Better deals happen without buyer representation. You can better negotiate the terms of a home purchase directly with the builder/builder agent without professional representation.

Note:     If you deal only with a builder, you will be dealing with the seller’s agent. The builder’s agent or onsite sales agent, represents the builder and only the builder. Who’s looking out for you?

Note:   Your negotiating power increases substantially when you hire a buyer representative. Seasoned, new-home buyer reps have experience, knowledge and familiarity with new-home builder practices. They have also successfully negotiated many contracts with individual builders in the area. Builder reps know how to expertly negotiate price, upgrades, closing costs, and re-sale value.

Note:    Builders have a single focus: keep their prices up and sell upgrades. Their main goal is to convince the buyer to pay list price, usually with the best terms for the seller. Many times builders will also have an allegiance to a particular lender, which means they will sell incentives, as long as the preferred lender is handling the loan.

Note:  If you call or visit the builder’s showroom, you’ll be speaking to the site sales agent, who strictly represents the builder. In Arizona, we have a builder-broker code which requires the buyer’s agent to accompany the buyer on their initial visit to a specific subdivision.

• You will receive less upgrade incentives and spend less when dealing directly with the builder.

Fact:   Working with a full-time, local real estate agent who specializes in new contraction, can save you money! Buyer agents have a different perspective in terms of resale and cost versus return of investment for upgrades. They also have access to an arsenal of home vendors that can also save you thousands with after-market products.

• Your fees for personal, private, client services will go up when using your own buyer representation.

Fact:   Builders set aside funds, in a separate account, to cover commissions and other client services. The builder has already calculated and budgeted for these fees and it does not negatively affect your negotiating power. It costs you nothing.

• Builders draw up their own contracts, which are non-negotiable.

Fact:  Seasoned real estate professionals and buyer representatives can advise and consult with builders, on your behalf, regarding their contracts, usually addressing and successfully negotiating terms which favor you, the buyer.

• You don’t need a final home inspection.

Fact:  Purchasing a newly-constructed home is a major, life-changing event! Would a bride not have a final fitting? Would you drive a new car right off the lot without an inspection or warranty? Your veteran real estate professional knows every inch of their territory and will be able to advise and suggest things to you about your particular home inspection, and, about the unique nuances of a neighborhood or community. Your buyer rep will act as your own, personal quality control advocate!

Recommended Inspections

• Environmental / Ecological
• FEMA Flood Zone
• HOA and CCRS
• Pool Safety
• Builder / Broker Code
• SuperFund Map and Program sites
• Good Funds Law (Arizona)
• Arizona Department of Real Estate Buyer Advisory
• Home Warranty
• Helpful Vendors
• Final Walk-through

Buyer Representative Practices

• Our skills are expertly used to prioritize the best interests of the buyer.
• The buyer’s agent is in a stronger professional position to negotiate on behalf of the buyer, typically resulting in a lower purchase price.
• The buyer’s agent does not charge the buyer a fee. The agent is compensated by sharing the seller’s or builder’s agreed commission to the listing agent.
• The buyer’s agent compensation / commission does not compromise their duties owed to the buyer.

When You Choose the Vallee Gold Team Buyer Representatives . . .

You are our priority!

• We will devote time, effort and expense in finding the right property for you, based on your individual wants and needs!
• We will share all appropriate listings with you in your specific criteria.
• We will set up appointments for you; show you properties, being mindful of your interests, and will tirelessly negotiate on your behalf.
• You are never under any obligation to purchase real estate. You simply agree to purchase through the Vallee Team, if you do.

The Vallee Gold Team – Buyer Representatives will devote their time, effort and expense to finding ther right property for you! You’ll receive all listings in your criteria; we’ll set up appointments, show you properties, always look out for your interests and negotiate on your behalf. You’re under no obligation to purchase any real estate. You simply agree to purchase thru The Vallee Gold Team, if you do.

Vallee Gold Team

Long Realty-Tucson, Arizona

520.544.5555

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