Top National New Home Expert
By law, at least in Florida, all buyer’s are entitled to fair representation. A real estate transaction is supposed to be at arms length and fair by definition. That means the seller has proper representation, and the buyer has proper representation and protection. Only then is there fairness. It’s just not happening. The sad reality, is that many real estate agents are either in the builders back pocket and really representing the wrong side, or not experienced enough to provide the proper representation that new homes demand. The few buyer’s who brave it alone (because of course, builders will tell you that you don’t need a real estate agent to buy a new home) are even worse off, at the full mercy of the homebuilder. It’s their chance to make even more profit by exploiting the buyer’s disadvantage of having no or very little new home knowledge and experience. Or even worse, just information provided by seller websites.
Now for the truth that nobody wants to talk about. This is inside information that you will not get anywhere else. Either because the other experts don’t care, don’t know, are really on the seller’s side (the homebuilder in this case), are chasing higher commissions, or are afraid of the homebuilder’s not paying them commission for revealing buyer saving secrets, the truth- or what I call doing the right thing. It’s taken me 10 years to accumulate this, and not to brag, but I was one of the best on-site sales counselors in the country, be assured that you’re getting the very best information.
This is the area that holds the most mystery to re-sale realtors and almost all buyers. There are so many inside factors, that for the sake of not making you read 200 pages, I’ll be brief. First, recognize that supply does affect this, regardless of extra incentives and discounts you may be able to discover. I’m not saying you’ll be able to get a home with a $200,000 market value for $150,000. However, there are some hidden incentives that can in many cases be either negotiated or uncovered.
Some on-site agents have access to what are called bbpi’s (builder back pocket incentives). I’ve seen them as high as $20,000. Basically, it’s a closing tool that they use to create urgency. However, in many cases the bbpi’s are not used, because they receive extra commission on any amount they can save. In short, they make a lot more commission at your expense. If you can get them, they can usually be used for several different things, ranging from an interest rate buy down, extra closing costs, and even free design upgrades. Your poker face will be very important. Don’t show urgency even if it’s the home of your dreams from childhood.
Finished builder inventory homes are another great opportunity to look for hidden discounts. Once a home is completed, the builder is carrying the financing, sometimes up to $3,000 per month. So, they’re very motivated to sell the home quickly. Dig deep, I’ve seen homes discounted below market value, up to $30,000. It takes time and knowledge, but is very possible in many situations.
Slow selling communities- Know the true sales pace of your new home community. I would never accuse an on-site salesperson of lying to get a sale or putting a sold sign on a lot that’s not really sold… but, beware of false sales numbers being reported. Focus on the net sales, there are always cancellations. There’s a big difference between a supply/demand curve of 10 per month and 5 per month. And it could mean the difference between you getting no discount, a small discount, or a sizeable discount. Use government property appraiser websites for free and research accurate numbers.
Home experts worked for Orlando and Central Florida new homebuilders. Now, it's our honor to take care of the buyer's needs. For more info about new homes Orlando fl and new home builders orlando fl visit jwpnewhomes.com.
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