Purchasing From a Developer
If you are purchasing from a developer, there are several issues to consider. If the purchase contract has been prepared by the builder or developer, then make sure you read it carefully. You may wish to have us review this contract on your behalf before you even sign it. This may result in an additional fee. Some issues to address in the contract are as follows.
Does the contract allow for seasonal holdbacks? Does it allow for holdbacks for any items that are not completed? Does the contract include landscaping and grading? Is there new home warranty coverage and in particular is there deposit coverage? Is this a situation where you must make progress payments? If so, does the builder’s schedule of payments match the schedule of payments your mortgage lender is willing to provide?