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Redfin Real Estate Forums :
Bay Area :
New Construction Advice
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New Construction Advice
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basilica
Regular Visitor
Posts: 1
Registered: 12-29-2007
Message 1 of 2
Viewed 1,717 times
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Hi! I am interested in buying a new construction home. So if I understand things, I find the home, then contact Redfin before getting pre-approved, right? I have been to see the new homes a few times, but never been asked to fill out the registry info, so I am still ok to use Redfin, right? Actually the first time I visited the models, there was no broker co-op but now there is broker co-op, I asked the salespeople today and they said--yes there is broker co-op, get your agent! So then I need to bring the Redfin agent to the sales office right?--before talking to the approved lenders? Or do I just need the Redfin agent for the purchase contract and not the deposit? If anyone can outline the steps for me I would appreciate it. Thanks, Karen
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12-29-2007 08:21 PM
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Re: New Construction Advice
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Susan
Contributor
Posts: 29
Registered: 12-30-2007
Message 2 of 2
Viewed 1,688 times
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Hi Karen,
I'm glad the salesperson at the development will still let you bring your agent! With most new home subdivisions, if you've already visited, they would have made you sign in and then you couldn't come back with an agent!
So, here's how it goes - You will need to bring a Redfin agent with you to sign you in to the tract. Your Redfin agent will give them his/her broker and license information and a business card. Then most builders will handle the rest of the contract process with you directly. While your agent will probably be sent on their way, the salesperson at the new home community will work with you to write the contract and take your deposit, etc. Generally, builders have their own contract forms and processes.
It's a very simple process to get a Redfin agent to go out with you. Just request a tour through our website, but be sure to indicate that you are interested in being signed into new homes. (Different agents handle these tours.) Then someone will contact you to schedule the visit. If there are other communities you are interested in, it would be a good idea to arrange to visit those at the same time so your agent can get you signed into all of them.
You also mentioned getting preapproved ... If you mean by a lender, I would highly recommend that you get started on your loan preapproval right away, if you haven't already. You will need to know that you can, indeed, afford the home you are buying and the subdivision will require a preapproval to accept your offer. Many builders, however, also have preferred lenders that they work with and they may offer additional financial concessions or benefits for using them. It's good to have your own loan information in hand, too, though so you can compare rates and programs.
I hope that answers your questions. And good luck buying your beautiful new home!
~Susan~
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12-30-2007 05:09 PM
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