FAQ—Frequently Asked Questions
What do buyers want to know about New Construction in SWFL?
1. What are the benefits of buying new construction in SWFL?
Answer: New construction offers modern designs, energy-efficient features, and customization options. In Southwest Florida, new homes are built to meet updated building codes for hurricane resistance, which is particularly valuable in this region.
2. How long does it take to build a new home in Southwest Florida?
Answer: Building a new home in SWFL can take 8-12 months on average, though this timeline can vary depending on the builder, weather, material availability, and permit approvals. High demand or customized designs may extend the timeline. If you are wanting to build a custom home, this may take longer than buying in a planned development, but we can help you navigate this.
3. There are so many home builders in SWFL, how do I choose?
Answer: As your Real Estate agents, we will help you look for builders with experience, a strong reputation, and knowledge of local building codes. Reading reviews, visiting model homes, and asking for references can help ensure quality and reliability. We visit new developments frequently and can share with you what our experience has been.
4. What kind of hurricane protection should I expect in new construction?
Answer: New homes in SWFL are built to meet stringent hurricane-resistant standards, often featuring impact-resistant windows, reinforced roofing, and stronger foundation systems. Some builders offer additional upgrades, like hurricane shutters or generators. We have a lot of experience with this and can help guide you as to what the options are for your home.
5. Are there financing options or incentives for new construction buyers?
Answer: Many builders partner with lenders to offer special financing options, including closing cost assistance, rate buy-downs, or other incentives. It’s worth comparing builder-provided financing options with independent lenders to find the best terms.
6. What are the best new construction communities in Southwest Florida?
Answer: Every development offers different amenities and lifestyle options, such as golf communities, waterfront access, or proximity to beaches and shopping. Visiting multiple communities can help you find the best fit. Chances are, we have already visited some of them and can give you an idea of what to expect.
FAQ’s on the buyer broker agreements required by the National Association of Realtors (NAR):
1. What is the new Buyer Broker Agreement?
Answer: The Buyer Broker Agreement is a contract that outlines the relationship and expectations between a homebuyer and their real estate agent. It includes details on the services the agent will provide, the duration of the agreement, and any compensation arrangement. The new requirements set by the NAR make it necessary for homebuyers to sign this agreement to officially work with a buyer’s agent.
2. Why is this agreement now required?
Answer: The NAR introduced this requirement to bring greater transparency and professionalism to the homebuying process. By making this agreement mandatory, buyers and agents have clear terms on their working relationship, which helps manage expectations and avoids misunderstandings regarding services, fees, and responsibilities.
3. What’s included in the Buyer Broker Agreement?
Typically, the agreement outlines:
The scope of the agent’s services.
The buyer’s responsibilities, such as timely communication and financial readiness.
The duration of the agreement.
Compensation details, including whether the buyer or seller is responsible for paying agent fees.
4. How does the agreement affect commission payments?
Answer: The agreement specifies the terms of the agent’s commission. In most cases, the seller traditionally pays the buyer’s agent commission. However, this agreement clarifies who is responsible if the seller does not offer a commission, which may mean the buyer agrees to cover it or negotiate alternative arrangements.
5. Can I work with more than one agent without signing multiple agreements?
Answer: The Buyer Broker Agreement is exclusive, meaning that the buyer commits to working with one agent for a specified period. If you wish to explore working with multiple agents, that needs to be clearly discussed and agreed upon with the agents involved, though it’s uncommon under standard agreements.
6. Can I terminate the agreement if I’m unhappy with the service?
Answer: Yes, most agreements have provisions for early termination, often with conditions. Be sure to read the agreement thoroughly or consult your agent for any concerns about terminating it if necessary.
7. Does this agreement mean I am obligated to buy a home?
Answer: No, the Buyer Broker Agreement does not obligate you to buy a home. Instead, it establishes a framework for working with your agent.