When The Buyer Backs Out: Real Estate Sales SolutionsWhen The Buyer Backs Out: Real Estate Sales Solutions


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When The Buyer Backs Out: Real Estate Sales Solutions

The first time I sold a house, I had no idea that the buyer could back out of the contract partway through. I was taken aback when it happened to me, and my real estate agent had to explain the process of terminating the contract and requesting the earnest deposit. After the contract was terminated, I spent a lot of time researching why a buyer could back out of a sale, what I could do about it as the seller, and ways to minimize the risk of it happening. I created this site to share what I've learned in the hopes of preventing other homeowners from experiencing what I did. I hope it helps you to be better prepared as you sell your home.

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New Home Construction: Three Rules To Live By

There is no feeling like designing a brand new home from the ground up. New home construction grants you unlimited customization and new appliances at competitive prices. Instead of getting stuck with a twenty-year-old dishwasher, you'll get one straight off the assembly line. However, new home construction is not always butterflies and rainbows. When you purchase a new home you are at the mercy of the developers. Construction delays and shoddy work could quickly put a damper on your spirit.

Here are three ways to put yourself in the best possible position when building a new home:

Hire A Reputable Builder

With new home construction, the right builder is everything. Before you hire a builder do as extensive a background check on them as possible. When looking at online reviews "hone in" on any trends you see. Are people complaining about cracks in the dry wall? Make a note of that. Always remember that displeased people are typically the most vocal, so online reviews may not give you the best overview. Consider asking your real estate agent if they have worked with the builder in the past. Realty services may be able to steer you clear of builders with a lackluster reputation. 

Constantly Have The Home Inspected

Getting the home inspected is just common sense. However, most people wait until the home is built before they schedule an inspection. Those folks are doing themselves a huge disservice. It is paramount to have your home frequently inspected throughout the construction process. When the home is in barebones form, it allows the inspector to catch problems that would have been hidden once the home was fully built.

In particular, the pouring of the foundation and the framing process are two phases to keep a close eye on. If these are performed incorrectly, you'll be making expensive repairs for the next twenty years.  

Purchase New Home Insurance Policy

Better safe than sorry. Yes, you have to fork over some additional money, but the benefits are worth it. You do not want move into your home only to find out that the basement floods every time it rains hard. Things can still go awry even when you made sure to pick a good builder.

Avoid the warranty from your own builder and instead search for one offered by an independent insurance company. A new home insurance policy will cover any major structural defects for up to a decade. Additionally, both the plumbing and wiring will usually be covered for a decent length of time.  

New home construction can be an exciting endeavor, however, you just cannot wander into it uneducated. Do your research and make sure you have the right people on your side. If you cover your bases, that new home will be everything you imagined.

Have more questions? Contact a company like The Gresham Group to learn more.