If you are trying to sell your home and are interested in purchasing new construction, keep reading. Many builders are not entertaining contingency offers in the current real estate market. Builders would prefer building homes they already have a buyer for then to be stuck with new homes they cannot sell.
If you are trying to sell your own home, most builders will not start building a new home for you until you have sold your home or if your home is pending for sale.
If your home is pending for sale and another buyer is interested in the new build you are planning on purchasing, the builder will have the right to practice first right of refusal by requesting you make a decision within a specified time frame (48 hrs) to move forward in purchasing the home or to back out and let the next buyer in line purchase it.
If you decide to sell your own home prior to building a new home, you will need to make arrangements of a place to live in the interim. Builders are taking about 4 months to build a new home in the current Colorado Springs real estate market.
There are many advantages to purchasing a new build in Colorado Springs right now. Many builders are offering free finished basements, gourmet kitchens, free landscaping, or other incentives.