3 Mistakes When Buying New Construction in Miami

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Newly-constructed homes are wonderful investments to make. You can pick and choose what you want, and you can control most of the building process.

However, we see people make the same mistakes when they buy new construction. We will be discussing these three mistakes today. I have Dustin Healey with me today to help talk about these problems and how you can remedy them.

Hiring a real estate agent is crucial when you buy new construction. Home sellers for builders are notorious for tricking buyers into thinking that they're working on their behalf, when they're actually just trying to sell the home for the construction company. Find an agent who will work with your best interests in mind! What's even better is that the builder will pay their commission, so hiring a Realtor will not cost you a dime!

You need to research your builders just like you would research a car before buying it. Make sure the builder is in good standing with your state's construction contractor board. You should verify their licenses and ask if they sub-contract any work. Always know the amount of insurance they carry, as well as the amount of their bond.

Be aware that builders use different purchase contracts than most other real estate transactions. Be sure to read these contracts carefully, and definitely get a lawyer and your Realtor to look over these contracts. Have your Realtor add in addendums to protect you when you buy new construction.

Hopefully knowing about these mistakes now will prevent a disastrous new construction purchase in the future. If you are planning on buying new construction in Coral Gables, please don't hesitate to contact us!

We look forward to speaking with you!