TALLAHASSEE, Fla. (WTXL) -- When it comes to buying a new home, many may have a certain idea in mind for how their house should look...so why not start from scratch? But there can be confusion when buying new construction.
WTXL ABC 27's Brittany Kleinpeter sat down with local realtor, Elizabeth Ekk, to talk more about the process of buying and building on new land.
10 Steps in the Process of Buying New Construction:
- Pre-qualification letter required per contract within 3 days
- Confirm location desired
- Confirm floor plan desired -- 3beds/4- beds, 1/2 story
- Confirm the timeline that works -- if you are selling a home prior to building or when a lease ends. It takes four to five months depending on the status of the spec home (i.e. land cleared, done permitting, framed, drywall, etc.)
- Submit an offer usually on a builders contract or FL Association Board approved contract.
- Include an earnest money/good faith deposit in the amount of $3K-$5K
- Choose finishes: the fun stuff!
- Review the milestone dates for buyer to inspect home until closing. (i.e. Slab/lot walk through, electrical walk through, drywall walk through, weekly builder meetings, appraisals, buyer full approval from lender)
- What's a punch list?
- Builder 1-year warranty.
