The Role Of A Realtor When Buying Pre-Construction

Realtors bring extensive knowledge of the local real estate market, including insights into current and upcoming developments. They stay informed about which developers have strong track records and which areas are expected to grow or decline.

A realtor vets the reputation and reliability of developers, assessing their history, financial stability, and past project outcomes. They also evaluate the specific project’s feasibility and how it aligns with the buyer’s goals.

Realtors leverage their negotiation skills and relations with builders to secure better terms for their clients, such as lower prices, upgraded finishes , or extended deposit structures and closing terms.

rom the initial deposit to the final closing, a realtor guides buyers through each step of the pre-construction purchase process. This includes coordinating with developers, lawyers, and mortgage brokers, and ensuring all paperwork and deadlines are managed efficiently.

Realtors provide comparative market analysis to ensure that the buyer is paying a fair price for the pre-construction unit. They compare the cost per square foot with similar properties and evaluate whether the price aligns with market trends.

If the buyer decides to sell the contract (assign the purchase) before the property is completed, a realtor can provide advice and manage the assignment process, ensuring compliance with legal and developer requirements. If the buyer is not looking to assign, a good realtor can still provide valuable insights when issues arise upon completion of the project.