Lennar says, the advantages of buying a new home in this economic atmosphere, the prospects of getting a good deal may lure your clients toward buying a short sale or REO. But while up-front costs may seem lower on an REO or short-sale, buyers often end up paying in other ways. Here are five advantages of buying a new home to think about:
1. NO REPAIRS. With a short sale or REO, the previous owner may have stopped maintaining their property. That means your client could end up with expensive repair bills. But new home purchases often include builder warranties for workmanship, materials, and structural problems to help protect your client against large out-of-pocket repair expenses.
2. NO SURPRISES. With a new home, what you see is what you get. With an REO or short sale, what you might not see is what you get. New home purchases often come with many disclosures from the seller, though in reality, very little may actually need to be disclosed. For REO transactions, not only is the bank exempt from some of the disclosure requirements for sellers under California law, but the previous homeowner may be long gone.
3. GUARANTEED QUALITY. New homes are usually built with modern conveniences and energy-efficient technology. They may also come with warranties for craftsmanship, appliances and more, to give the buyer peace of mind. Short sale and REO properties may not come with warranties or upgrades and may not be available for inspection prior to purchase, so your client could be in for some expensive surprises after purchase.
4. FRIENDLIER FINANCING Homebuilders often have relationships with lenders that help buyers obtain financing for new homes with relative ease. For short sales and REOs, the property may have a lower price tag, but some buyers may run into difficulty getting financing.
5. SHORTER PURCHASE PROCESS. Homebuilders usually have homes available for immediate occupancy or on a move-in schedule that’s convenient for your clients. Negotiating a short sale can take several months — and there’s no guarantee your client’s offer will be approved
Click here for a Buyer’s Kit from Lennar
For more information about buying a home from Lennar or other new home subdivisions, contact David Ormonde www.DavidOrmonde.com david@GoTracy.com 800 788-2973
800993-1145 209 832 0679