When buying new construction you should always use your own Realtor not the one at the community where
you’re buying the home; I won’t get into that here, you can read about that on our tips for home buyers page on our website, what I wanted to mention in this post is a tool your Realtor should be using to help get the best price possible on that home.
When new homes are sold, often they will sell multiple homes using the same MLS # and that MLS # is one of many “comparables” your Realtor is looking at when researching closed home sale prices in the area before making an offer (and your Realtor should ALWAYS do this before you make an offer, don’t make a blind offer!). To see what has REALLY sold in that development your Realtor should pull a title “trio” report and a comparison sheet from their title company of preference. This will show all of the new construction home sales in that development whether they were ever listed or not and show you a true picture of how much homes there are selling for.
Also, If the builder has already sold a home identical to yours (be careful here, see our buyer tips page) it will also then show you how much that builder has already accepted for a like home which could give you a significant advantage in making an offer. Again though, make sure you check out our buyer tips page for more information on this because this tactic could work against you if not done properly.
Tags: buying a home tips, market analysis, New Construction, title report, trio