Ultimately, what this means for VA Buyers is that they must buy new homes. Now there is a trapeze wire. With over 400 home builders in El Paso Tx and Horizon City, you may be overwhelmed with questions. Whom do you trust? Where are they building? What builder is offering to pay closing cost? Should you buy a complete home or start from scratch? It’s like standing in front of the shampoo aisle at the grocery store. Well maybe not quite like that but you get the idea. You need a real estate Buyer’s Agent with experience. There is not a builder in the El Paso Tx market that wants you to be represented by a Buyer’s Agent. The builder and builder’s agent want you to walk into their model, fall in love and sign on the dotted line. Why? Because they want to “move the inventory”. Their unsold homes are eating away at their bottom dollar and the faster they get you into a home, regardless of the homes condition, the sooner they are paid. To the buyer, the home buying experience is the “dream of ownership” but to the builder, it a business. Don’t be fooled by the marketing reps that claims you are represented in the transaction. Most builders’ reps are not licensed real estate agents and are very much like used car salesmen. They will say whatever it takes to sell the inventory. They seduce buyers into believing that the builder and the rep are looking out for the buyer but this is an illusion. They blind buyers by offering attractive incentives. Naturally, many buyers are scammed into trusting the builder with the biggest investment they will ever make.
It was not until the late 80’s that lawsuits were brought by buyers for these misrepresentations. Consequently, in Texas, the law requires any licensed real estate agent disclose, upon first contact, who they represent in a real estate transaction. Unfortunately, this does not cover unlicensed builder’s reps. It is the builder’s responsibility to disclose that his agents DO NOT represent your interest but in my experience, the reps will not.
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