Experience With New Construction / Pre Construction Help Needed
I want to purchase new construction homes in new developements in phase 1 of construction. I plan on going through with closing on all my deals becuase I plan on selling after 30% construction has been done in the new developement. Has anyone been doing this? This is not a get rich fast scheme but it does work from what I hear as long as you sell FSBO. Thank you for all your help.
If you use a realtor to do this, ask the realtor for some money back at closing. If the realtor finds the deal for you than they deserve the full commission. Most cases you find the deal and they show up at contract and do very little except receive 3% from the builder. If they give you some cash back, just remember that they will be responsible for the income taxe hit on the commission paid.
How much will you save buying it during the Phase I of the construction vs. market value?
I would say probably 5%.