Buying a new home is an exciting time in anyone’s life, but only if the real estate transaction goes well. There are many legal issues that could come up and hurt the transaction. There are also things you might want to change about a home that could impact the sale.
For example, if you love the house you’re going to purchase but want to have hardwood floors instead of carpeting, you might have to ask the seller to change that before the sale. If he or she says no, then you’ll have to decide if you want to do it or buy a different property. Comparatively, if you’re buying a new build or development property, the construction team might happily make those changes for you.
Opting for a new build also helps you work with banks for financing more easily. There are fewer surprises waiting in the wings of new homes, and since builders work with banks, they may be able to give you more financing options. Always shop around, but builder-arranged financing might be a good way to get your development property.
If you do decide to buy a new home, remember to read the warranty. A warranty nearly never exists on an older home, so this gives you an opportunity to make sure the builder will come back and repair anything that isn’t working later.
Whether you’re a first-time home buyer or want to make a large developmental purchase, getting the right legal help makes sure the process goes smoothly. Our website has more on real estate transactions and the steps you need to take.