How to vet a builder – the builder’s perspective

I read an interesting article on “How to vet a builder” a few days ago.  The link to the article is below.  It’s short and sweet, but covers the main points very well, in my opinion.  I thought it might be useful to give a builder’s take on the subject.  Here goes:

The first point in the article mentions hiring a “good real estate attorney” to review the contract.  This is an interesting point, and I’ve had a few customers take my contract (a version of the State Homebuilders’ Association form) to an attorney for review (although I’ve never had one ask for any changes afterward).  Even though most builder’s contracts are standard forms approved by the state Homebuilders’ Association, I suppose an unscrupulous builder might try to throw something in there that works to the customer’s disadvantage.  Hiring an attorney isn’t cheap, but if it makes you feel better, it’s worth it.  Here’s the single caveat I’ll throw in, though: if you don’t trust the builder, and think you need to have an attorney review the contract, then why are you letting him or her build your home in the first place?  If you think there’s something in the contract that’s going to cause a problem, what do you think is going to be in the house?  Unless you are a uniquely savvy buyer, and have all day, every day, to watch the construction, there’s no way to check every detail of the home being built.  What’s my point?  Hire a builder you trust, and you won’t have to worry about getting cheated.

Other great points in the article, with which I agree completely, as will any reputable builder: Investigate!  Search the builder’s name on the internet to find any information, good or bad.  Also, ask other home owners in the neighborhood who bought from that particular builder.  The big question to ask: did the builder meet your expectations?  It’s all about expectations, and a good builder knows to set the customer’s expectations up front, then live up to them (and exceed them).

Here’s the link to the original article: http://www.realtor.org/RMODaily.nsf/pages/News2010083005?OpenDocument

Thanks for reading, and have a great weekend!

Tim