| Many times buyers that are looking at new | | | | equal to" what was ordered by the buyer. Can |
| homes don't feel the need to have their own | | | | you imagine a buyer ordering new furniture, and |
| agent. "The nice people at the community's office | | | | then finding out days before closing that some of |
| are so helpful," etc. And, yes, they are. However, | | | | the finishes in the house aren't going to be what |
| they work for the builder or the community. | | | | they ordered, and if they refuse to close they |
| They are hired to represent that builder... not the | | | | may lose their earnest money, or even more. |
| buyer. Unless the buyer brings their own agent, | | | | Most of the time, the writers of the special |
| the buyer doesn't have a representative in the | | | | stipulations in the contracts are not envisioning |
| process. | | | | these situations. They are trying to protect their |
| Much of the time, it will be fine. However, one | | | | clients, the builder, from other issues. But, if the |
| may discover that the contract (other than | | | | language is there it may be exploited. |
| perhaps a standard Realtor Association contract) | | | | In other cases, having a buyers agent might clue |
| may have a lot of one sided language in it. A few | | | | one in to other aspects of the purchase. Perhaps |
| examples of this might be cancellation clauses, or | | | | there are other communities that might work as |
| worthless warranty provisions. One contract that | | | | well or better for the buyer. One shouldn't expect |
| I recently dealt with had a provision that allowed | | | | that the community agent will point out those |
| the builder to cancel the contract for any reason | | | | other new homes. Or knowing what inducements |
| or without reason and refund the earnest money | | | | are being offered in other areas. Also, a buyer's |
| and a small amount for damages... right up to | | | | agent will likely recommend an inspection, and |
| closing. Imagine that a buyer sold their current | | | | possibly other services that the community agent |
| residence, and then the day before they are to | | | | won't recommend. And don't forget financing. |
| close on both properties, the builder decides they | | | | Many times the community has special |
| can get a better price for the house this buyer | | | | arrangements with particular finance companies. |
| has been waiting for over the last eight months. | | | | These might not offer the best deal for the |
| Now they don't have a house to move in to, and | | | | buyer, so having an agent that is tuned in to |
| the may not have a house to stay in. Another | | | | some other sources may reveal other options. |
| phrase that I dealt with allowed the builder to | | | | The bottom line is that being unrepresented isn't a |
| change the specs of the house being built with no | | | | great idea, and probably won't save you any |
| notice. They could substitute materials and finishes | | | | money. |
| for others that the builder deemed as "at least | | | | |