Hi everyone. This is your Tampa Bay Realtor Lance Mohr. In this video I want
to talk about something that a lot of you may run into over the years
especially if you're buying a new home and that's how to do a little research
on the Builder so you don't get the shat and when I say the shaft I mean out of
thousands if not tens of thousands of dollars when buying a brand new home
all right so I got a comment from a gentleman over the weekend
and he just thought the video that I did was a little trivial and I understand
one of these videos that I do are trivial they're certainly not going to
apply to everybody but that's why you need to subscribe to my channel and hit
the bell so you get notified because some of these videos I'm doing are going
to be critically important whether you're selling a home buying a pre-owned
home or buying a new home so I want to go over some things that you can do when
you're buying a brand-new home a little bit of recon work so you could do your
due diligence I know if you've been watching my videos I talked a lot about
due diligence sure you need to hire a realtor that knows what they're doing
that's been in the business certainly whether it's on a pre-owned home or on a
new home but when it comes down to a new home
hopefully they really know what they're doing and they can give you a lot of
guidance I always say how Realtors are not the same pick someone who really
knows what the heck they're doing knowledge is power and their knowledge
could save you a heck of a lot of money and can say get you out of the court
system so you don't have to go there so what tends to happen what I'll sort of
break this down into two builders when you're buying through a national builder
or maybe a regional builder the one thing you want to do is you want to go
around to the subdivision maybe on the weekends or in the evening when people
are home talk to them talk to the people who are out asking them who built their
home how the building experience go what they like about the subdivision and the
Builder what they don't like people love to talk about their homes of course they
love to talk about their kids and they love to talk about themselves so ask
them about their homes ask them about their experience and see what they went
through now when it comes to the big volume builders the national builders
and the regional builders having money you generally don't need to worry about
that a lot of it will have to do with reputation but when you start getting
into the local builders and certainly the custom builders you need to do a
little bit more reach research it can be a little bit harder on the
local builders that build off a volume that maybe do hundreds or maybe even
over a thousand homes a year depending on how big your area is but with both of
those you still want to go out you still want to talk to past people you still
want to get the scoop but what you need to do and this is more toward the custom
builders the people who aren't going in very many is do a little research on
their vendors talk to their vendors obviously you're going to have to have
permission to do this you may need something in writing or you may need to
talk to the Builder and ask them and say who are your bed vendors example you
want to talk to the HVAC person you want to talk to the roofer you want to talk
to the person who's installing the cabinets see how their pay history is I
know a lot of builders won't won't want to do this and they might even come back
to you and say well I don't want to do that I don't want to disturb my vendors
and I would just simply say well over the past year how many people have
called your builders and they'll probably say no none well how can that
be disturbing the vendor if they've never had any call because I'll tell you
what most people when I say most almost all don't even think about doing stuff
like this but if I'm building a four hundred thousand dollar home or a four
million dollar home and I'm going to have to put thousands if not tens of
thousands of dollars into it I want to make sure this builder has the money I
want to make sure this builder is financially able because even if I'm
taking out the construction alone I don't want them to go belly-up but
during the transaction and then all the sudden I'm left with a half completed
home so you should be talked into their vendors if they don't want to give you
their vendors well then maybe you need to pick another builder to work with a
lot of times I have builders out here in the Tampa area that I know are very well
financially because some of the some of the subdivisions that they're building
in the developer actually looks that their books and their financials prior
to letting them them into the subdivision so you have to be very
careful I mean anything could happen but do your
own research talk to people talk to even their lender the builder's lender
dependent out if they're built are they building any inventory homes or spec
homes or anything like that because if they are they're gonna have a
construction loan so do your work I mean I remember years ago when I had my knee
reconstructed I interviewed surgeons and talked about an attitude but at the end
of the day if they didn't answer the questions I want an answer I only have
one left knee I would have gone to another surgeon and and you could be
dealing with thousands and most likely tens of thousands of dollars do your
research if they don't want to help you out go do a different builder there's a
lot of builders out there for you so I hope this helps if you have any
questions let me know don't forget subscribe to my channel hit the little
bell so you get notified and leave comments have a wonderful day goodbye
you