Read the deposit and cancellation language
Know exactly when each payment is due, what makes it nonrefundable and which contingencies provide an exit. Some builders set their own contract forms rather than using a general Realtor association template. Independent legal review can be worthwhile when you are unsure what the language means.
- Get all deposits and refund triggers in writing
- Identify financing and appraisal contingencies
- Confirm who holds funds and how disputes are handled
Capture the home you expect to receive
Specifications, allowances, color selections, appliance packages, landscaping and closing prerequisites belong in signed exhibits. Ask how substitutions and change orders are approved and priced. Make sure lot-specific upgrades and community fees are included in financing calculations.
- Save all addenda and change orders
- Check build tolerances, substitutions and warranties
- Separate optional features from promised inclusions
Coordinate financing and inspections
An assigned closing date can move. Ask about walk-through access, independent inspections, punch-list repairs and obligations if the builder delays. Coordinate lock periods and valuation timing with your lender well before completion.
- Discuss rate-lock expiration and extensions
- Schedule inspections as your contract permits
- Know the final walkthrough and occupancy requirements
Official information
Terms, loan rules, funding and eligibility can change. These references are for education; always confirm the current written terms with the appropriate agency and lender.
CFPB: buying a home ↗