Welcome to Myrtle Beach Custom Homes!
New construction is plentiful in Myrtle Beach and along the Grand Strand. These days, it seems everywhere you look between Georgetown, north to the North Carolina border, there’re new subdivisions with new houses going up. For anyone considering a new house along the Grand Strand, buying a house under construction certainly hats an allure. You get to be the first to live in a pristine home – a home untouched by grimy hands or muddy shoes. The home is full of brand-new appliances, unstained carpets, polished cabinets, and all the finishes and treatments that were picked to fit a personal aesthetic. Plus, cosmetic or structural upgrades won’t be necessary for years.
Bret French and Brad Emond are the owners of Myrtle Beach Custom Homes and specialize in helping buyers of new construction realize their dream. Brad and Bret are Real Estate Professionals licensed with The Trembley Group Real Estate at the Market Common in Myrtle Beach. While new construction has lots of advantages, many buyers make the false assumption that they’ll save money because they’ll not be using their own REALTOR when purchasing a new home. This is a huge misconception!
Buying new construction seems simple, right? Just find a builder, pick out the floor plan, choose the perfect lot, and watch it go up. No emotional sellers to deal with, no unexpected repairs coming up during inspection, no drawn-out negotiations. Right?
Not so fast. In any real estate transaction, it’s important to have a professional on your side, even if the process seems straightforward. As with most real estate transactions, new constructions contracts are rarely straightforward.
Hire a Real Estate Professional
This is imperative. Anyone who has browsed The Trembley Group Real Estate website understands the company’s Real Estate Professionals work for their clients. They are fiduciaries – they are legally bound to put their clients’ interests first.
Home-builders will monopolize sale negotiations if given the opportunity. They may offer special “incentive” packages, but only to buyers who agrees to use all of the builder’s representatives: lender, closing attorney, and even insurance agency! Real Estate Professionals like Brad Emond and Bret French walk their clients through the process and make sure they are protected every step of the way, as well as make sure they’re getting the best deal possible.
If their client decides to use the builder’s lender, Brad and Bret make sure they get the best rate and fair closing costs. Myrtle Beach Custom Homes knows what’s fair and standard, and makes sure the builder and his representatives operates within fair and standard practices.
By bringing in their own Realtor, new home buyers tell a builder to be on their “best behavior.” A builder’s success depends on a good reputation in the area’s real estate community. A reputable builder will do nothing to jeopardize a good reputation and will do nothing that might jeopardize a good relationship with the local real estate community. The real estate community sends buyers to a builder based on the builder’s reputation for being fair and ethical, as well as building a first rate product.
What Real Estate Professionals Do for Their Clients
Experience isn’t expensive. It’s priceless. A Real Estate Professional/Realtor who understands the ins and outs of purchasing a new construction home, works on the buyer’s behalf. They can negotiate a better purchase price, closing concessions, and free upgrades. “Most people wouldn’t consider buying an existing home without a Realtor’s representation.” Says Bret French. “Brad and I came up with the Myrtle Beach Custom Homes concept to help home buyers through the even more stressful and complicated process of building a home. Think about it! It’s scarey! In many cases, buyers are committing to something that doesn’t even exist yet.”
Going through the new-home-building process can be daunting, dealing with last minute changes and surprises. “Everyone likes surprises on their birthday and at Christmas,” says Brad Emond. “But nobody likes surprises at real estate closings.” Buyers can avoid a lot of bad surprises with the good representation of their own Realtor.
But many buyers don’t think they need a Realtor’s Representation
Many buyers assume that the builder’s representative will help them with the purchase of the new home. They also assume that working with the builder’s internal representative will result in getting a better deal on their purchase.
The builder’s agent is working for the builder – not for the buyer! Their success is measured by getting the best deal possible for the builder, their employer. And no builder ever thought, “Wow! I don’t have to pay a seller’s real estate professional. I think I’ll pass the savings along to the seller.” Not having representation does not result in a cost savings. If a buyer does not use a Real Estate Professional, the builder simply receives an extra 3% from the purchase. So, from a buyer’s perspective, it’s free to have professional representation. Free.
Using Brad Emond and Bret French
When using a Myrtle Beach Custom Homes Real Estate Professional and when touring new construction, it’s important to give the Real Estate Professional’s card to the builder’s representative at the door of the model. It is best for a Myrtle Beach Custom Homes Real Estate Professional to bring a buyer through the door of the model to make so it’s clear from the onset that the buyer has Realtor representation. There are rules as to how you are introduced to a builder, and when a Realtor is due their fee for working for YOU. Just be very clear and give your agents name, and CARD.
If planning on visiting a model, buyers should let their Real Estate Professional know. They will call ahead so that the builder’s representative knows they are coming and they are represented by a Realtor. Some developments have site registration policies that require your agent to accompany you on one of your first few visits.
“Having your own agent provides a sense of security,” says Myrtle Beach area resident Robert Rogers. Robert’s bought two new construction homes from two different builders. “I was an absentee home buyer in one case and it gave me a lot of peace of mind, knowing that someone was looking out for my best interest.”
Peace of mind is just one benefit of having an experienced agent along for the ride. Read on for a few more reasons you’ll want a Myrtle Beach Custom Homes real estate professional by your side when buying new construction.
After hiring the best Real Estate Professionals here are a few caveats to ensure the best experience working with a builder.
Don’t Sign Anything Without Representation!
Some builders try to capitalize on the highly charged emotions and the buyer’s lack of knowledge when buying a new home. Once a home buyer becomes attached to a new home, builders may try to get their signature on a contract quickly. Even if they fear losing a property, a buyer must know with absolute certainty what is in the contract and how it affects them. No matter what the builder or his agent says over coffee, if it is not in writing, it will likely not happen. Everything will be done as it is written in the contract, so it’s important that a buyer understands it clearly.
A builder’s new construction contract is not as simple as the standard real estate contract that’s familiar to most home buyers. Some builders use contracts of thirty pages or more. Bret French and Brad Emond can be the star player on a buyer’s team when going through and understanding the builder’s contract.
Research the Builder
“Brad and I are experts on homes along the Grand Strand,” Says Bret French. “We know the area’s builders and their reputations. Buyers should steer clear of builders who is selling a lot of properties investors. Predominantly rental neighborhoods affects pride of ownership. Ideally, a builder should be constructing homes of equal or greater to a neighborhood’s average value to keep property values high.” A buyer’s Real Estate Professional help sort out and advise on these items.
“This is still a pretty crazy economy,” says Brad Emond. “Bret and I know several builders on the verge of shutting their doors. Using a financially stable builder is critical. A buyer will sleep better at night knowing who is holding their multi-thousand dollar earnest money deposit and that it will be returned should the builder default on the contract.”
Research City Plans
A new home in a new neighborhood is often in a newly developing area. It’s important to understand what will likely to happen in the area you are about to commit to. This includes your city’s plans for roads, public spaces, parks, and schools. “Buyers need to be confident that a neighborhood will continue to be a good place to live as it develops, says Brad Emond. “A good Realtor is the perfect source for this information. Bret and I routinely study Grand Strand demographics and have a handle on this kind of information. Knowing this stuff is part of our job.”
So, What’s the Next Step?
After hiring a Real Estate Professional to work with a builder. The next thing new construction home buyers should do is tell the builder you’ve got a Realtor when you walk in the office door “Hi, I’m working with The Choporis Crispell Team”).
When touring the model home, ask the builder how much the home costs as you see it! Keep in mind that the model usually contains many upgrades and special features. You will want to understand the difference between the base model and the upgraded models. We can help you understand the difference, As your Realtor, we can advise you on what upgrades make sense and which ones are not worth the cost.Also, remember that builders will often want cash upfront for upgrades when contracting them to build the house. They do not want to be held responsible for extras if the buyer decides to walk away from the sale. Buyers should expect that they will not be refunded for upgrades if they walk away from the sale.
Buyers should always remember resale, even if they expect to die in their new home. It’s may seem strange to think about reselling a home before it’s even built, but it should be a consideration. If the custom home is in an older development, look at the any current listings and see how the house plan has aged.
Be sure to get a copy of the blueprints of the home, along with floor plans and surveys. This will help with any future sale. It’s easy to get copies of plans in the beginning, and it’s very important to have them!
As the home is being completed, check in! Brad Emond and Bret French recommend visiting every three days to daily. Buyers of new construction can catch mistakes before they happen. Some builders limit access to the home site, but site visits can be stipulated this in the new construction contract. Bret and Brad can help stipulating visits in the contract.
Brad Emond and Bret French always insist that a home sale is not really closed until all work is finished. If any changes are substantial, funds should be set aside and not released until the work is finished. Once a home is closed, changes take a low priority and it becomes difficult to get them done, especially if they’ve already paid for them. Change orders need to be in writing, signed by buyer and seller!
Know that your Real Estate Professional will look out for a buyer in the event of delays or problems. Sometimes things happen beyond the builder’s control. Brad and Bret always have contingency plans for cost overruns, temporary housing, and bridge loans. As your Realtor, Bret French and Brad Emond can help with new ideas, and help work with the lender in these worst-case-scenarios.
When choosing a Real Estate Professional for new construction, be sure it’s someone who has experience in new construction and someone who isn’t affiliated with the builder. It’s important for you to have an agent representing the buyer’s best interests – someone advising the best way to structure an offer to be appealing to the builder, to making choices that can affect a home’s resale value, to ensuring the home buyers get the maximum value for their hard-earned dollars.