I need your advice We just signed a contract for a new construction And we don't like the city anymore Can we change to a different city with same builder and plan? Help me Thank you!
Gosh! Thank you so much for the information. I wish I could've found you before signing my new construction. I'm from out of state and I just picked a random agent to represent me and she was not good at representing me and giving me good advice. :( Next time!
Oh, sorry to hear that! I highly recommend getting a third party home inspector before your warranty runs out! Feel free to email me at Kaori.nagaochiti@sothebysrealty.com for more tips!
Can you go over the process of buying a spec home please? This is what i plan on buying the end of this year when i could get a deal like you said. What things on the contract should i watch out for with those sneaky builders?
You've come to the right video! I've broken down everything you need to know before signing a new home contract whether it's spec or a build. Spec homes will have faster delivery time and more incentives to negotiate.
I bought an inventory home $64,000 price drop got all stainless steel appliances free Granite countertops etc... free the builder paid 6,000 in closing & lender bought rate down to 4.125 in February 2023💵💵💵
bought a new build , 2,100 price drop , granite countertops, hardwood floors , 5665 appliance allowance , land transfer was 297 dollars plus 50 for legal printouts . total property tax a year is 1192.41 😂😂😂. i paid cash . zero mortgage
Thank you for the great information. Currently looking to buy my first home in a different state but at what point should you negotiate incentives, upgrades etc. Should that be prior to signing the purchase contract or will that be later as the price will continue to change based on Design Center etc. I have selected my Structural Upgrades, Lot Premium and floor plan already and will be signing near term. When is the best time to negotiate, pre contract signing or post once everything is finalized? The seller is offering currently $20k for closing and $25k in upgrades but I'd like to negotiate Lot Premium, appliances and additional Design Upgrades. Thank you Kaori!
Thanks for watching! Always negotiate BEFORE signing the contract! You have more leverage that way 😉 Are you working with a new construction expert in your market? If you need representation, please email me! I can connect you - kaori.nagaochiti@sothebysrealty.com 📩
The earnest moeny is quite high compared to resell, Does the lender ever help cover earnest monney? That is a large chunk of change to come up with esp out of pocket
I agree. It can be higher than some EMD for resale homes. That is why you need to hire a buyer's agent so that the agent can negotiate the EMD amount for you! I've negotiated EMD from $40K to $20K for a buyer before!
@@KaoriLuxuryRealEstate Lennar homes in Fresno. Their lender can’t qualify me because I am self employed and I don’t pay myself enough. However, my lender who I’ve done a lot of business with over the last few years qualified me with bank statements… first time buying new construction. Love the videos by the way.
Kaori I wanted to say your videos have been fantastic. However this one is an absolute gem for my situation! My wife and I ran into many pain points as first time buyers here in Henderson. Currently we are building here in Henderson (almost completed) and the stress on many of these points we weren't aware about would have drastically helped us. We had ZERO clue about representation like yourself when walking into the Beazer office excited. Hats off for taking the time to make this video for everyone.
Thank you SHAUN so much for your feedback. Congratulations on your new build. I am 100% sure that this won't be your forever home so let's stay in touch and I will be happy to assist for resale/purchase new builds in the future. Thank you for watching and engaging with me! Means a lot!
@@KaoriLuxuryRealEstate Of course! Actually I sent this over to my wife to watch later and discussed your video with her. She and I are sold to do things right next time going with an agent. We actually really would love to use you in the future. I need a time machine to go back to the beginning of buying! lol
@@Shaunzor Time machine would be great. Back to the future-style LOL. Feel free to email me at kaori.nagaochiti@sothebysrealty.com if you'd like to connect and be added to my monthly e-newsletter!
Guide. You mention taking your realtor with you on first visit to sales office. I have to visit a model home before knowing if I like it. Online photos don't visually do it. So my realtor is going to want to visit numerous communities while I decide, instead of me deciding and then bring in my realtor?
Kaori, this video was great; Q: Can you breakdown at what point would one engage with the builder preferred lender and what are all the steps that have to be taken to sign the purchase agreement? I.e. is there a pre approval done by the lender first, then you find out the interest rate you qualify for, and then sign the purchase agreement and what role does the lender play? Thank you.
Yes happy to! You'd want to get the lender involved as soon as you have made a decision to move forward with this particular home & builder. Once pre-approved, you are able to get more info on lender incentives and negotiate! Ask about closing costs, interest rate buy down, and more. Then you will go through the estimates and the monthly payment breakdown. Rates are not locked in until you get closer to the closing date. Any more questions, email me at kaori.nagaochiti@sothebysrealty.com 📩 I actually just released a month by month timeline of the new construction process so check that out too!
Uh oh. I didn’t know this wasn’t normal. My builder rep asked me to come in on sat to sign a purch agreement and personal check . I asked if I can see the paperwork ahead of time and she said it’s a lot of work to email it …
sorry, not true... it can cost you tens of thousands to have a real estate agent. Baked into 99 percent of all sales contracts is a 3% fee to the real estate agent representing you (e.g. for bringing you to the home to be purchased) What happens when they find out you don't have a real estate agent? ... well, yesterday a home I'm looking at told me they would give that 3% to me. If I had had a real estate agent, that I don't need, then I would have lost out on those thousands of dollars of savings (potentially if I decide to buy) on a home that isn't negotiable in price. Prove me wrong.
You're getting representation so that the buyer's agent can negotiate on your behalf. I've saved my clients tens and thousands of dollars because they hired me to represent them on new builds.
i bought a brand new DR Horton home here in central ca. this was my first time buying home. felt like i was taken advantage of because my ignorance i'm a disabled iraq war vetran i'm planning on buying a home in gilbert az i want a new build is it possible to ask the builder to make my master bath to be built with ada specs? all the things your saying incentives i had no idea about that. they didn't have a model home the model was in another town about 15 minutes away after i signed the contract i found my floor plan on youtube. the realtor could of showed me my floor plan. from the beginning they told me there was someone was going to buy the home they was trying to sale to me. things was so fishy in the beginning i dont want to be hussled again i wish i saw your video prior to buying my home my home closed 7/22/22/22
Thanks Kaori for the great video! Do I still need a real estate advisor/agent if I buy an out-of-state new construction rental property through a turnkey real estate company? Should l trust the turnkey company to act as my "real estate advisor"? If I decide to get an agent in this case, will the turnkey company or builder still cover the real estate agent fee?
Hello hope all is well, I am in a situation. My house could not close due to mold found in the basement. They had to take out the insulation in the basement and attic. I have a baby with respiratory issues and would like to cancel my contract on this house. How can I get my money back?.
A few differences - 1) Timeline. Spec homes have faster closing. 2) Incentives. Builders will offer more incentives on spec homes. 3) Lender Incentives. Lenders will offer more incentives on spec homes.
@Kaori Luxury Real Estate any advice as a buyer that is currently enrolled to become an agent for the sole purpose of getting the commission. I don't want the builders sales people sneaking things in that a newbie like me wouldn't understand or would miss. Anything I should watch out for?
