Buying New Construction
Articles, New Construction Charlene Echerivel

Buying New Construction: What’s Different From a Resale Closing

You're Often Working With the Builder's Contract, Not a Standard Purchase Agreement Resale transactions typically use a standard state or local real estate association purchase contract that's fairly consistent from one deal to the next, regardless of which agents or attorneys are involved. New construction purchases, by contrast, usually run on the builder's own proprietary …

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Builder Contracts and Warranties: What to Read Closely
Articles, New Construction Charlene Echerivel

Builder Contracts and Warranties: What to Read Closely

The Completion Date Clause Most builder contracts include an estimated, rather than strictly guaranteed, completion date, along with detailed language addressing delays caused by weather, material shortages, labor availability, or local permitting backlogs. Look closely at what remedy, if any, you actually have if the home isn't finished on time — some contracts offer essentially …

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