Tim Barber House & Home | Blog | 5 Things Your Realtor Should Know | Your Realtor isn't going to know all the details a contractor would know about the buildability of a piece of land but you will need them to...

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5 Things Your Realtor Should Know
10.26.15

Your Realtor isn't going to know all the details a contractor would know about the buildability of a piece of land but you will need them to know the basics to help you choose a lot that’s right for you. Here are a few things to ask them about when you are considering a specific lot...

Zoning, Building Requirements, HOAs & Historic Districts

Realtors may not know the specifics of these for every lot, buy they should know what the zoning is for the lot and whether it falls in a Historic District or under an HOA jurisdiction (Home Owner’s Association). Historic Districts and HOAs have benefits but they do place restrictions on what you can and cannot build or do to your home.

Finance Options

It is imperative that your Realtor have an understanding of the finance options for purchasing a lot and constructing a house.  A well-established Realtor should also have strong relationships with lenders to commend to you. Your Realtor is usually not a mortgage broker, so don’t expect them to quote you terms and rates. However, she should have a good base of finance knowledge to be able to answer most of your questions.

The Neighborhood

While Realtors cannot legally tell you which schools are the best in the area, they should know what school the lot is zoned for and where you can find information on the ratings of that school. They should know the transportation and shopping options in the area. 

Your Needs & Priorities

Knowing what you really want is your responsibility. You need to have done your homework and clearly express your needs and wants to your Realtor. If your agent knows you hate sloped lots, he or she will not waste your time showing you hillside properties. If a big backyard is a necessity, let it be known early in your search. Again, being clear and up front will save you time and energy.

The Value of Patience

Building a new home is a significant commitment and you want to be sure to choose the right lot in the right location. It could take months, even years, to find the right lot. Your realtor should be willing to hold your hand for as long as it takes to find the perfect place to put down roots. If she has a sense of humor and a love of adventure that is an added plus. After all, this process should be exciting and fun!

 

Don't forget to download our Realtor Questionnaire to help you find a Realtor that is right for you.