i'm buying a house???

Question

yes it's a d r horton house, i heard they have a great reputation, my question is: my wife and i are young and i'm going directly through d r horton, i didn't get a realtor, is that ok, or do i have to have a realtor? what are things i should really know as a first time buyer? I guess my main concern is getting screwed over by the sales person, any suggestions?

Answer 1

1) DON'T SIGN ANYTHING without having it looked at by your attorney FIRST!!! NEVER use an attorney suggested to you by an agent or seller! Every contract should include loopholes that will ensure you get your deposit back in the event that there is a problem. The trouble often comes when you try to get your money back. I've known of cases where buyers had to wait up to 6 months to get back deposit money, even though the problem was with the home itself.

2) Have the home inspected by a licensed home inspector. NEVER use one that is recommended by a real estate agent or seller. You can easily find them in the Yellow pages.

3) If the home uses well water, have the water tested. Look in the phone book for a local lab, and collect your own sample. Never use a lab suggested by a real estate agent, or seller, and NEVER EVER let either of those parties collect, submit, or transport the sample for you. Can anyone say Evian?!?

4) You can research the valve of the home yourself on the internet. Look for comparable homes in the same area and compare prices. You should also make appointments to see homes you think are about the same, just to get a good idea of what your dollar can buy in that area. You could also hire an appraiser that you find yourself through the Yellow pages.

5) Try to remember that real estate agents, and sellers, are most interested in making the sale. That's how they get paid. They generally tend to have a friendly disposition, but THEY ARE NOT YOUR FRIEND. They're there to make money, and aren't concerned with whatever problems you make have with the sale, or home. Even an agent that YOU hire will be more inclined to be on the seller's side. They get there commission from the seller, not you. Seller's are also in the deal for themselves. Forget how NICE anyone is to you, and take everything to your lawyer before signing.

I'd bet anything Tori spent a lot more money than she needed to, paid top dollar for the home she bought, and thinks tigers make great house pets.

Answer 2

You don't need a realtor; you need a good real estate lawyer who knows how these builder contracts are drawn up and what to avoid. You normally have a certain "cooling out" period after signing anything with the builder, to have a lawyer look it over and let you know what things you need to dispute. Then you can take the contract back to the sales people and say "We need this changed". The sales person will have instructions regarding what things can or cannot be changed in the contract and will likely try to talk you into things. Depend on your lawyer's advice in this situation and don't bend unless you really want the house and are prepared to deal with any fall-out from ignoring your lawyer's advice!

If you have things that are non-negotiable for you, and the sales person says it can't be changed, be prepared to walk away.

Answer 3

I beg to differ Landerson, Tori does know what she is talking about. Maui, find a good Realtor to represent you. Realtors are in the business of representing buyers and sellers, and they have a fiduciary obligation of utmost care to represent you. Horton will take care of their interest first. Your Realtor will be paid by the seller that is, if the seller (Horton) is offering a commission. If you hire a lawyer, you will have to pay him or her. What the Realtor will tell you, the builder won't. And please make sure that you have the home inspected by a license inspector, again your Realtor will take care of this, among other things.

Answer 4

Sorry Tori doesn't know what she is talking about. The first thing you should do is get an attorney! The Realtor doesn't represent you! (unless he is a buyers agent) He represents the seller. You can always tell when a sales agent is lying...his lips move. A good attorney will tell the builders you are not a babe in the woods with lots of cash falling out of your pockets for them to pick up. Your attorney will guide you and have your back thru this most frustrating of purchases.

Answer 5

"To build a house or a hotel, the player must own all properties in a color group. Development must be uniform across a monopoly, such that a second house cannot be built on one property in a monopoly until the others have one house." I got that from Wikipedia. I have played this game since I was a little kid, and I have played different ways with different people. Sometimes we played like your mom is describing. Other times we would buy whatever we could afford, but you can't put a second house on a property unless all the other properties have one house already on it (like Wikipedia says). Hope this helps.

Answer 6

I am a Real Estate agent and if you are already dealing with the company directly it is probably to late to have a agent...unless you are willing to pay out of pocket for it (Here in IL the seller pays the commissions usually) You should get a lawyer that will help to help make sure that you know exactly what you are signing when you have the contract written up. If you have any other questions please feel free to email me.

Answer 7

My husband and I are buying a home also this year. You should get a reputable realtor. They can find out things about the house(like anything major that needs fixing - plumbing, foundation, etc.) they will also help you negotiate a fair price and look out for your best interest. They make sure all the major things are inspected also like electrical, plumbing, foundation, termites, etc. so you don't find out later you need to spend thousands to fix something. Get a realtor!

Good luck,
Tori

Answer 8

Yes get a Lawyer