New vs. Foreclosed/Short Sale

NEW HOMES:

Protected by workmanship, material and structural warranties, can save your clients from large out-of-pocket expenses after purchasing.
Available in a variety of designs, sizes and locations to suit your clients' preferences.
Available for immediate occupancy or in a timeframe that is conducive to your clients' moving schedule.
With energy-efficient technology, your clients may save money.

Limited selection. Your client has limited choices of locations, features, and characteristics of a foreclosed home.
Costly repairs. Often times, when a previous owner is unable to meet the financial obligations of a mortgage, they stop maintaining their property altogether. Your client could end up with excessive bills to get the home back to a livable condition.
No disclosure. There is no requirement or full-disclosure on details and drawbacks on a foreclosed property, and some lenders reserve the right to renegotiate the terms of the short sale at the last minute

No warranty. Foreclosed and short sale homes do not come with any kind of warranty, and often are not even available for inspection. This leaves the new owner open for substantial risk.
Financing. Even though purchasing a foreclosed home might mean a discounted purchase price, if the home is not available for inspection before purchase, getting a mortgage can become quite difficult. Because lenders rarely pay for upgrades, like a new homebuilder would, any extras would be paid for almost exclusively by the buyer. Sometimes lenders will refuse to pay for standard seller closing costs such as transfer taxes, too.
Lengthy Process. Negotiation to buy a short sale home from the bank can take several months with no guarantee of approval on an offer. Given this indefinite process, successfully closing escrow on a tight timeline is very difficult.

New Home Communities

Quick Move-in Homes

You are not logged in. Please login.

First Name:*
Last Name:*
Company:*
Street:*
City:*
State:*
Zip:*
Phone:*
Email:*
DRE License #*
Tax ID #
User Name:*
Password:*
Confirm Password:*
* Required By submitting, you consent to receive communications, including marketing messages, via mail, telephone (at the number provided above) and other methods from Lennar Homes and its affiliates, including Eagle Home Mortgage, LLC, CalAtlantic Title, Inc., North American Advantage Insurance Services, LLC, Lennar Insurance Agency, LLC and SunStreet Energy Group, LLC. Calls and text messages may be sent via autodialer. Consent not required for purchase of Lennar Home. Message and data rates may apply. Text STOP to Lennar (536627) to cancel. You may unsubscribe any time. For California and Nevada consumers only.

User Name*
Password*
* Required Forgot your password? Get a reminder

Email*
* Required