The most common form of new construction are lots offered by home builders in subdivisions. There are normally a range of layouts to pick from as well as potential upgrades. The paperwork required in new construction purchases is different than for other types of properties. This information on common documents for buying new construction in NH might be useful.
Home Warranty Information
If a warranty is offered, this will be defined separately. All warranties are different. Some builders include almost everything while others list only certain things. Pay close attention to home repairs that may nullify your warranty. Additionally, keep the warranty deadline in mind.
Unique Builder Contracts
Most builders use their own forms. Those that use standard forms will typically include a special addendum. Either way, there are contract terms that you must review and accept before buying the home. Real estate agents are not allowed to review these on your behalf (because it is viewed as practicing law). You may find a lawyer for that. In some cases, builders are not open to changing these documents.
There is normally a list of standard add-ons and their prices. The first thing to do is to understand the cutoff dates for selecting upgrades. After the cutoff point, you may not be able to add them or it may cost you more for an upgrade. When any changes (such as upgrades) are made to building specifications, make sure they are officially documented.
The ability to hold a lot is not always offered. If you are only interested in a particular lot, it is a good idea to find out about this. You normally must provide a deposit and it is valid for a certain time frame to decide. This will allow you time to make an informed decision.
Layout and building specs are normally one of the first documents that you receive for review. Get a good understanding of what exactly is part of the home, and more importantly, what is not included in the advertised price. Note that some floor plans are overviews and not exact blueprints.
Common Documents For Buying New Construction In NH
The process of buying a newly constructed property is generally more complex than buying an existing home. It is critical to hire a real estate agent familiar with the challenges. Your agent can assist with paperwork and monitor applicable deadlines. Common documents for buying new construction in NH is merely one of many considerations in the home buying process.