New Construction Risks
- One-sided contractsNon-refundable deposits.
- Lack of specificity of what is being constructed.
- Change orders are expensive.
- No meaningful deadline for completion.
- No fixed closing date.
- Closing is based on a temporary Certificate of Occupancy or substantial completion.
- Lack of escrow for post-closing unfinished punch list items or other significant obligations to be performed by the builder after closing.
- Limited inspection rights.
- No meaningful buyer remedy for seller default.
- Lack of authority of sales staff.
- Less mature landscaping
Benefits of Buying New Construction
- Brand new with no damage.
- Newer construction methods for lower ongoing costs.
- New local infrastructure, including roads, schools, stores, restaurants … etc.
- Limited maintenance costs.
- Modern and customizable floor plans.Personalized finishes.Energy efficiency.
Builder warranties.
Vikas has several years of real estate experience in the Denver market. Contact Vikas Sarawat – Real Estate Agent in Colorado, at 303-800-8206
