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How to Buy a New Construction Home in Little Rock Ar
A lot of home buyers ask me what the difference is when it comes to buying a new construction home in Little Rock, AR. Here are some of the most important things to consider when buying new construction homes.
1. Find a Local Agent.
Working with a local real estate agent gives you an advantage. Be sure it’s someone who has experience in the new construction space and isn’t affiliated with the builder of the property you are interested in. It’s important for you to have an agent to represent your best interests, an agent can advise you on how to structure your offer to increase the chances of your offer getting accepted by the builder.
2. Be creative during negotiations.
Typically, builders are reluctant to drop prices on a new construction. This doesn’t mean that you cant get a little creative in negotiating for the builder to pay closing costs or perform upgrades at no additional charge.
3. Get everything in writing.
In Arkansas, verbal conversations are not binding, so everything important must be put in writing and signed by all parties. If the home you are interested in is not yet complete, it’s very important to write into the contract exactly how the home will be finished, what will happen if construction is not completed on time and the deadlines for these decisions. Your purchase agreement documents should specify a completion date.
4. Research the builder.
Search online for reviews and photos of completed work. Keep an eye out for any trends in reviews and make sure any concerns are covered in the purchase agreement documents.
5. Get a home inspection
No home is perfect even brand new homes have problems too. I advice all my clients to hire a inspector to make sure everything is working as expected and up to the city code.
I would love to explain the inspection process and your rights in the agreement to request repairs or terminate the agreement. Are you ready to purchase a new construction home in Little Rock, AR? Call me at 501-612-3965