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All Incentives and Mortgage Savings

By Seolncr Subscribe to RSS | May 30th 2012 | Views:
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Most new home builders orlando fl, advertise incentives. But be assured, they don’t all advertise all of the available incentives. If you’re being represented by a re-sale agent, someone who’s really not totally qualified, or going it alone, be sure to talk to several new home neighbors. They’re usually more than glad to discuss their experience and all the incentives they received. It’s never nice to be at a new neighbor’s party to discover that they paid much less than you did or received an extra $3,000 in closing costs.

This is a big one, and one of my favorites. Every 1/8% lower interest rate equals about $5,000 in savings over a 30 year term. Most homebuilders have their own mortgage company and want you to use them for obvious reasons. They like to maintain a capture rate above 90%. In many cases, they even offer incentives, such as a substantial closing cost contribution, maybe $5,000 or more. However, be very cautious. Be sure that their mortgage fees and interest rate aren’t marked up to offset your perceived incentives. Always compare their rate to at least 3 reputable outside mortgage companies. Also, be very careful about outside mortgage companies, watch out for gimmicks such as “we pay you $1,000 if we can’t get you the lowest rate”, or “come talk to us and we’ll pay you $100 just for stopping by.” Very sketchy to say the least. Look for honest hometown lenders who offer competitive rates and good service.

Builder’s will attempt to make the incentives contingent upon you using their mortgage company. If available, have a new home expert representing you to negotiate an incentive non-contingency clause, allowing you to receive their incentives, even if you use an outside lender. If you’re alone, try to do it youself. It can be successful in many cases. Builder’s don’t want to lose the sale, especially in the current buyer’s market where you have so many choices.

Real Estate Agent Selection

This is perhaps the most important section. The first challenge will be in finding a new construction home expert. The second will be finding one who puts the buyer’s best-interests first. There really aren’t many out there. Most real estate agents specialize in re-sales, and only average about 3 brand new home transactions in their career. Many re-sale agents are even afraid to take buyer’s to a new home community, because they’re embarrassed about their lack of new home knowledge.

Most of the experienced and qualified new home agents still work for homebuilders. But, a few left the industry when it became too harsh to stomach on the buyer’s side. And some of them are now buyer’s agents. Look for them at any cost. Ask around, search the internet, do whatever you must to find those few. After finding one, make sure that they care about you, and not just commission.

I truly hope that some of these inside tips on how to buy a brand new home will serve both you and your family in some way. Remember, knowledge is power. You can remove conflict and confusion. You can have the new home of your dreams, receive all the savings and the wonderful new home experience that you deserve.

Seolncr - About Author:
Home experts worked for Orlando and Central Florida new homebuilders. Now, it's our honor to take care of the buyer's needs. For more info about How to buy a house and How to buy a house in florida visit jwpnewhomes.com.

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