Frequently Asked Questions
Let’s work together.
We understand the important role real estate brokers provide in finding and purchasing a new home. To help avoid any confusion and make the processes as easy as possible for all parties, we have outlined answers to many of the common questions asked by brokers and agents. As well as our policies, procedures and requirements.
As a resale professional, what role do I play in your new home purchase process?
The resale process and the new home process are two distinctly different things. We respectfully acknowledge your expertise in the resale industry. But, because the new home process is so different from resale, it is in everyone’s best interest for us to take the lead. You can count on us to take great care of your customer and you. We will keep you informed every step of the way.
What if the home does not appraise at the purchase price?
Home purchases under VA guidelines are conditioned upon an appraisal’s meeting the purchase price, unlike FHA and conventional purchases.
What is the standard contingency period for a new home?
Unlike the typical 17-day contingency review period in resale, there are no contingency review items or periods other than the loan contingency noted in the agreement.
What about an independent home inspection?
Our homebuyers are invited on a series of personal tours of their new home while it is under construction and upon its completion. During the framing stage, they will walk through the home with the community superintendent, who will offer great insight as to how the home is being built, showing the homebuyer all the latest technologies being incorporated into their new home, explaining how the home works and answering any questions the homebuyers may have. Prior to move-in, our customer service representative will guide the homebuyers through the home, reviewing everything the homebuyer ordered, explaining the new home warranty as well as how to request any necessary repair work and answering any remaining questions.
Can we have our own inspection?
We do not encourage independent inspections simply because the two above referenced tours as well as the written warranties preclude the need for such a third-party inspection. However, if your customer or you are more comfortable with such an inspection and you are willing to bear the cost, you are welcome to do so. Such inspections must be attended by our community superintendent.
Who orders the termite report?
No need to order a termite report. We do that and the homeowner will receive a termite clearance.
Can my customer use my lender?
Yes. We want our homebuyers to obtain the best possible loan they can get. However, we do require that they fully process a loan with our preferred lender. Doing so ensures us that we have a qualified buyer. And, because they will ultimately get two quotes, it ensures the homebuyers that they are indeed getting the best loan available to them. It is our experience that many outside lenders are not proficient in the new-home process, resulting in delays to the close of escrow.
Should I present the offer on a CAR purchase agreement?
No. As noted above, the process is so very different. Much of what is in the CAR agreement is not applicable. Our purchase documents are reviewed and approved by the Bureau of Real Estate and are community specific. Please feel free to ask any question. We are a team of individuals working together for our homebuyers' complete satisfaction.
POLICY, PROCEDURES AND REQUIREMENTS
Real estate broker/agent participation is applicable on a community-specific basis
The real estate broker/agent and the Landsea Homes sales counselor must sign below to acknowledge the subject community’s participation with brokers, and this document must be included with the standard Landsea Homes purchase documents package.
Commission rates are established on a community-specific basis.
Commission rates, if applicable, are as noted on the Multiple Listing Service as of the date of acceptance of the offer referenced in the real estate broker/agent/homebuyer registration form.
Commissions are due and payable only upon the successful close of escrow as noted on the real estate broker/agent/homebuyer registration form. Commissions are paid through escrow.
The real estate broker/agent must accompany and register his/her client with the on-site Landsea Homes sales counselor on the client’s first visit to our sales office. Registration must include a current business card from the real estate broker/agent and completion of the Landsea Homes real estate broker/agent/homebuyer registration form. Registration is only valid for sixty (60) calendar days.
The real estate broker and the agent’s California real estate license must be valid and active both upon execution of this agreement and at the close of escrow.
In the event prospective homebuyers are not accompanied by their broker on their first visit to the community, the prospective buyers are required to state that they are represented by a broker and immediately provide that broker’s name and contact information to the Landsea Homes sales counselor.
When the prospective buyers return to execute a purchase agreement or a reservation, the buyers’ real estate broker/agent must accompany the buyers to the sales office and complete all Landsea Homes-required broker forms as well as submit a W-9 form.
If a real estate broker/agent visits a Landsea Homes community unaccompanied by a prospective buyer, Landsea Homes is not obligated to pay any commission unless the real estate broker/agent returns with his/her client on the client’s first visit and follows the procedures set forth herein.
Commissions paid to brokers will not include commission for optional upgrades that are added to the sales price of the home after brokers’ clients have delivered an earnest money deposit to Landsea Homes. Commissions are paid net of any incentives.
Under no circumstances will any broker commissions be paid if the above procedures are not adhered to and if the escrow does not successfully close.
Buyer shall be solely responsible for any dispute between more than one broker claiming to represent buyer.