Real estate in New Jersey

[jiggyp]

Hello to everyone,

I am new to this forum so please bear with me if my questions seem ridiculous from time to time. My current interest is in buying three brand new homes building built in a new 78 unit development in central NJ. These homes prices vary from $650K to $775. Since I have not spoken to the agents yet about my interest, what I wanted to know is what steps can I take to bargain and get the best possible prices on these 3 homes (will pay cash). Basically, will they give me a great deal since I'm buying more than one unit and also paying cash for them or will this not matter?

Also, even though they mentioned all their homes were pre-contacted already- is there a way to negotiate with the builders and agents if I wanted to provide them with my own indoor materials and contractors?



Thank u all in advance

[judyo]

In my area this would completely depend on the builder/developer. Also, if a buyer is fully pre-approved (just waiting for an appraisal), in a normal resale purchase the closing can occur just as quickly as a cash deal (in the amount of time it takes to get the appraisal, title and any other required inspections done). Also, I've had a cash buyer walk away from a deal, so nothing is 100% sure until it closes. I realize the builder would be getting more money up front than what occurred in that particular deal, though.

As far as doing your own contracting I'd really doubt a builder would go along with that if he/she is not just selling lots outright. It would probably negate any builder's warranty, also. However, many builders will concede on some materials and other things, so, again, you'd have to contact this particular builder to see what the deal is. Good luck & welcome to the forum.

[jiggyp]

Thank you very much for the information

[HMiller]

Like Judy said, it all depends on the builder. In the larger subdivisions here, negotiation on the price is very rare. However, if it's the same builder for the lots you may have a chance to negotiate down a little bit if your offer has terms that are appealing to the builder (ie. signifigant % down on contract signing with no contingencies). Also, I doubt that they'd let you provide your own materials and contractors.