New Construction- House Complete!

[southflorida]

If you are doing New Construction I recommend you to do it without a realtor because that way you can get more incentives which you can use to buy down the interest rate. However, you would give up the guidance that a realtor can give you, so it’s your choice. I personally did it without a realtor.

I think it’s better if you do your research and go see the houses, prices, etc without mentioning NACA at the beginning. Also, they are going to tell you that you would only get their incentives if you use one of their preferred lenders but that is not always the case. Below is a success story with D.R. Horton where @Pratik got the incentives. I also got the incentives with a local builder and I used them for interest buy down after the president approved it. @pearl609 is buying with Ryan Homes but I don’t know if he got the incentives.

The good think of New Construction is that you don’t have to go through the HAND department of NACA since it’s new

http://forums.naca.com/?topic=my-naca-journey-plus-extras-and-d-r-horton-experience

[NewOhioBuyer]

I thank for adding the link/thread, enough useful hints and comments by members there, but you also asked @pratik a question in post #40833 as to what form/format was the NACA offers as you presented them to the builder/lender, but I didn’t see the answer you got from him, and I need that hint too. I appreciate your help on this forum.

[Pearl609]

@NewOhioBuyer, just like @southflorida, I also purchased my new construction home without a realtor and I built with Dan Ryan Homes.

I took @pratik advice to a tee and it all worked out for me because my builder works with NACA….some of them DO NOT so first step is definitely to figure that out.

I’m not sure what you mean by what format were the NACA offers….

[NewOhioBuyer]

@Pearl609, Thanks for the thought, so what i mean by the NACA offers is, you want their preferred lenders to decline working with you because they cant match what an outside lender(NACA) is offering you, that is what i read in the many posts. So my thing is, do i just present the naca offers by word of mouth to them or i should get a paper doc from my mc or whichever source as a proof of the offers to present to them. How did you go about yours. Thank you.

[sjjoseph]

@kcotting

In this feed you stated your house was completed 03/23/2018. When did you close?

Thank you

[truque94]

@southflorida. So NACA does not require that you have a realtor? Also how much did the builder contribute towards closing cost? Thanks

[southflorida]

NACA recommends you to have a realtor but it’s not a requirement and specially with a builder, it may be better for you not to have a realtor because they may be willing to give you more incentives since they, as seller, don’t have to pay the commission of your realtor. Also, remember that the builder contribution will be used for interest buy-down because with NACA you technically don’t pay closing costs unless it’s a builder fee, or government fee which in that case the lender would not cover. I got about 6% seller contribution

[truque94]

Thanks southflorida. What I want to know is did you recieve the 3% that usually goes to the realtor and overall what percentage did the builder contribute to your closing cost?

[southflorida]

I got 6% seller contribution and I am sure I would have gotten less if I would have used a realtor but I don’t know specifically how much

[truque94]

Thank you @southflorida

[TTrumble]

Hello NewOhioBuyer,

Actually, @pratik is our “resident expert” on that topic. He did come great trailblazing when it comes to that topic.

You should be able to start with the builder and bring the NACA offer to them later. If they want you to sign a contract to use their “preferred lender”, it’s okay to do so.

Give the follwing threads a good read and I think it will help:

http://forums.naca.com/?topic=my-naca-journey-plus-extras-and-d-r-horton-experience
http://forums.naca.com/?topic=dr-horton

Let us know if you need any other help, and please keep us updated on your progress.

Tim Trumble
Online Operations, NACA
ttrumble@naca.com

[sandraj0429]

How do you present them with naca’s offer? I looked but I can’t find if it’s an official document or not

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