When you’re buying a property from a home builder, you might be tempted to skip hiring a buyer’s agent and work instead with the builder’s agent – but that can be a mistake.
Why You Need Your Own Agent
The seller’s agent is legally bound to honor the seller’s best interests, not yours. Even if you buy directly through the seller’s agent, he or she is obligated to work for the seller. You need your own agent – one who’s working in your best interests.
There are several other reasons to hire your own buyer’s agent, too, but the two biggest (aside from having someone in your corner) involve negotiations and closing.
Negotiations: Your Buyer’s Agent’s Specialty
One of the main reasons to hire a real estate agent when you are buying a home from a developer is that they will help with negotiations. When buying a property from a developer, there will be a lot of items to negotiate. This will include the standard purchase price and closing cost credits, but can also include negotiating discounts on home improvements and enhancements. Furthermore, if the home is part of a bigger project, the agent may know what concessions the builder has given away previously, which can give you leverage.
Having Your Buyer’s Agent With You at Closing
Another reason why you should hire an agent when buying from a builder is that they will be able to help with the closing process. When buying a home from the developer, your agent will be able to help ensure that all required work has been completed. This will be done by completing a brief check of the home to ensure that all work was completed as agreed.
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