More Information (real estate, insurance, lawyer)

[wvs820]

I appreciate the advice so far. We will be paying cash for this purchase. Please correct me if I am wrong. I have every intention of retaining an attorney for contract review. My point is if we go to a community like Del Webb or K Hovnanian and so on without an agent wouldn't that give us more negotiating power with no commission involved. As far as insurance and so on I have the impression that these agents usually will recommend there friends therefore me the buyer doesn't always get the best quote for these things. More times then not I do not think these Realtors have your best interest in mind. Your thoughts

[Ziggy100]

The realtors do have your best interest in mind because they’re expecting referrals after the sale. Our realtor didn’t recommend anybody unless we asked.

Going without a realtor will not get you any additional bargaining power. They’re paying their realtor the same amount either way. You not having your own just means their realtor gets twice as much.

[johngolf]

I say when dealing with a developer:

1. They will deal very little on the base price. The deals are in the options. Get every option you want. Do not go cheap on options.
2. They have set aside some commission for those buyers with an agent so if no agent, a few % reduction can be gotten. No need for a real estate agent.
3. Do have a lawyer look over any contracts they want you to sign.
4. If they have a mortgage/insurance partner at least explorer their rates even if not used.
5. If in on the building process, then do hire a home inspector to do casual walk thrus with you. You do not need written reports but note what they say and raise it to the site manager.
6. Make the site manager your new best friend. They appreciate small gifts like a bottle of whiskey, golf balls, etc.
7. You will have good leverage if the developer is still building in the neighborhood as they want all happy plus they have crews onsite.
8. It can be frustrating as workers may not be on site every day. It seems nothing happens for a week or two then bingo, things are finished.

My last two homes were new purchases in small developments and the above is how I handled both transactions.

[wvs820]

Thank you John. My thoughts exactly