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Buying a new construction house

I found a house that I really liked in a good neighborhood. The agent told me that she will be a dual consensual agent. I asked her how good is the building company and she said they have excellent reputation in town. I did my own work and started looking for this company and even couldn't find a website for this company. Because she is a dual agent, I am not sure if I trust her or not. She said a real estate attorney is not necessary as she is licensed to do this. I am not sure if I need to find another agent to represent me when I sign the contract. Also, how can I check if the building company is a solid one? Is inspection needed for new houses?
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May 22 2013 - Iowa City
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Answers (3)

Agreed!  although dual or limited agency CAN work, it can be a slippery slope and makes sense to get your own representation especially because you can't find that this builder has a web presence or know nothing of their reputation.  At a minimum, do some more digging about the builder before taking the plunge.  Good luck!
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January 27
Working with an agent that represents the interests of both buyer and seller is like working with a lawyer who represents the plaintiff and the defendant. It is most certainly in your best interest to have someone representing you and your interests alone. 
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January 27
Legally as a dual agent she should be acting in the best interest of both parties. Still this might not be the case, especially if she does a lot of work for this builder. Unless you have signed an "Exclusive right to buy" contract then I would go with another agent. And unless your buying the home cash then the mortgage company will probably require an inspection. If they don't then you are more then welcome to get your own inspection done, of course that will be at your own cost. As for checking on the building company, the best thing to do would be to see if you could find any other work they've done. Also, you can call the state/town and be sure they have all the proper licenses. 
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May 22 2013
 
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