JANUARY 14, 2020

9 THINGS YOU SHOULD KNOW ABOUT BUYING A NEW HOME IN THE US

Recently, more and more young buyers are choosing to buy new houses. Today, Jing is here to chat with you about "the way to buy a new house".

Buying a new house and a second-hand house have different rules of the game. To put it simply, the seller of a second-hand house is usually the owner, and the buyer can bargain with it; while buying a new house, the seller is usually a developer or a builder, and the price is mostly public pricing ( Some properties are still negotiable!!). In addition, buying a new house may not be represented by a real estate agent, you can buy it yourself, but the relative risk must be borne by the buyer!

 

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1. Sales Office Registration

First, focus! ! Developers won't give you a good price because you don't have a buyer's agent, on the contrary, going through a broker will sometimes help you get better deals. Therefore, when buying a new house, it is recommended to find a trustworthy real estate agent to buy it together. Moreover, the broker will provide you with a lot of professional advice and information, and in the process of buying a house, your rights and interests will also receive an extra layer of protection.

And if you do not bring a broker when you visit the new house for the first time, and you register directly at the sales office, you will give up the right to have the buyer's broker, and the buyer's rights will not be well protected. After registering at the sales office, you will be able to receive information updates about the community via email.

2. Loan pre-approval certificate and housing loan fund certificate

Buyers need to find out if the developer requires you to provide a Pre-Approval Letter before allowing you to buy a home. Also, does it have to be pre-approved through their nominated mortgage broker. If you buy a house in full cash, do you also need their nominated mortgage broker to check your bank's proof of funds. The sooner you follow the steps specified by the developer to complete these certifications, the sooner you will be eligible to purchase a home. buy a new house

3. Know how to buy a house

There are many new houses that need to be snapped up, and developers may have different sales methods, such as: queuing, first come, first served; email notification of house sales, and purchase houses according to the order of responses; lottery to buy houses; according to the order of registration; or Buy a home in the order in which you submit your loan pre-approval certificate. You must know how to sell a house in advance and prepare well in advance, so that you can buy the house you want as soon as possible.

4. Know the pros and cons of where your home is located

Are there any sources of noise such as highways, major roads, train tracks, airports or factories near the house? Is it Lu Chong? How high is the property tax? ? Are there any negative impacts such as high-voltage lines, garbage dumps, etc. around? How is the campus? Whether it belongs to the seismic zone, the flood zone or whether there are pollution sources around it, etc.

5. Know the strengths and weaknesses of the house itself

Know the orientation of the house, the layout, the decoration materials, the reputation of the builder, and whether the house is a Condo? How much is the monthly fee for HOA? And what administrative fees are included in the monthly fee? What restrictions does HOA have on homeowners (pets, parking, rental housing...)? Does the community have a swimming pool, gym, etc.? buy a new house

6. The process of selling a house

The process of selling a home will vary slightly from one builder to another. Generally speaking, buyers will be required to pay a deposit (ranging from 5,000 to 5% of the house price) on the day of purchasing a house. After that, it is generally required to go back and sign a formal contract within 1 to 7 days. If you regret before signing the formal contract, you can get the deposit back.

After signing the contract, there will generally be a few days to go back and forth, depending on the details of the contract. If the house is still in the basic construction stage, the sales office will notify the buyer to choose decoration materials after a period of time. After that, the buyer is notified about the delivery date about 30 days before the delivery, and the buyer will immediately start processing the loan application so that the payment can be smoothly transferred on the delivery date.

7. Precautions when signing the contract

Pay attention to whether there is a period of regret after signing the contract? Also pay attention to the penalty clauses on the contract for breach of contract, the clauses for delayed delivery, the penalty clauses for the buyer's delay in transferring the property, the content and duration of the house's warranty.

8. Precautions for preparing house purchase funds

If the buyer is a foreigner, is there any restriction on sending funds abroad to the United States? To find reliable channels, to ensure timely remittances. If you need a loan, and some funds need to be transferred from other accounts to your own account, try to do it two months before applying for a loan to avoid the bank tracing the source of the funds.

If some of the funds are house purchase gifts from family members, you should confirm with the lending bank how much funds can be used as gifts. In addition, the funds must be transferred from the gift giver's account, and all remittance receipts must be kept.

9. Matters needing attention when handing over the house

There will be an opportunity to inspect the house before handing over the house. You can pay a professional home inspector to do the inspection, or you can do the inspection yourself. It is advisable to check in as much detail as possible, and ask the developer to fix any problems found in a timely manner. Call before handing over the house to transfer the water, electricity, gas, garbage and other accounts to your own name. Collect all the keys from the sale, including the keys to the gate, mailbox, community pool, gym, etc., and finally you can enjoy your new home to the fullest.

Finally, I would like to remind my clients and friends again that when you go to see a new house for the first time, remember to bring me! ! 👇👇