Buying, selling, financing, and furnishing your new home is a fun and exciting challenge. Look at the articles, columns, blog posts, radio shows and videos for advice on new construction home building. With these helpful home construction tips, building a new home is a whole lot easier.
Real Estate Lawsuit Concerns New Construction
What happens if your new home gets built on the wrong lot? You may be involved in a lawsuit with the builder, mortgage lender, title company and real estate agent. To sort out who's responsible for what and to ensure that you get clear title to your new home, make sure to hire a good real estate attorney.
Construction Loans Versus End Loans
A residential construction loan is used by a homeowner while he or she builds a home. The lender gives the borrower a bit of money at a time as the building is put up. When the home is up and the homeowner moves into it, an end lender - meaning a lender that wants to give the borrower a permanent loan - will finance the property as it would any home, without dealing with construction issues. During the construction process, the lender will give you money to continue with your construction. Each time you need money for the construction you request a "draw" on the loan. Once a portion of the loan is paid to you, you have to start paying interest on the loan.
Highway Will Affect Home’s Value
A home buyer is considering a home that has a 4-lane expressway proposed being built behind the backyard and wants to know if it will affect the home's value. Having a major highway in the backyard could limit appreciation in the home's value and be more of a nuisance than the buyer might realize. It might be wise to pass on this home and find one that will have an opportunity to grow in value.
New Construction Mistakes Lead To Water Damage
What happens if you buy new construction and the home has a lot of water damage? You can try to work with the new construction builder to repair the water damage. But if that doesn't work and you still have water damage, you'll likely want to talk to a real estate attorney.
New Construction May Eliminate Tall Trees
What can you do if new construction on a neighboring lot will impact your property? You can talk to the new construction developer or to the county to try to get some resolution. In addition, a real estate attorney may be able to help you get compensated for the loss of the trees.
New Construction Delayed Without Building Permits
To build a new home your builder has to secure building permits from the local government. It may take a while to obtain building permits because of zoning board concerns or other local issues. To get the builder moving or switch to another builder it helps to go through the original new construction contract with a real estate attorney.
In A Tough New Construction Market, Builders Are Penny-Wise And Pound Foolish
Last week, I got an email from a home buyer who had been told by a builder's representative that because she was unagented when she first saw the prop...
Builder Won’t Recognize Buyer’s Agent
A reader visited a new development in her neighborhood. The builder's sales representative will now not work with the buyer's agent. Ilyce explains why new developments try to avoid working with buyer's agents and advises the reader how to continue with an offer.