You visit a model home in a housing development and like the location, size, layout, and price. You talk to the builder and start negotiations. Soon you sign a contract to have the builder contrast a home for you like the model on his tract.
But wait…. There’s something you should think about as you start making payments. Actually, it’s something you should get as soon as possible – the deed to the property. It’s important that you get it before you’ve put a large amount of money on the home!
The reason for this is that sometimes builders and sub dividers do not really own the land that they sell. The only thing they may have is a contract or option to buy. If the builder has difficulties of a financial nature, this could result in problems for you concerning a refund of your money or getting ownership of your home and property. If you’re in this type of situation, remember the key words: get that deed!