15 Secrets No Real Estate Broker Will Tell You

Developers, and the agents who represent them, may offer warranties on new home construction. Ansbacher, the Florida attorney, says buyers are foolish if they find much comfort in such guarantees. "The definition of a 'defect' in those warranties," he says, "is so carefully worded" that most claims end up null and void. Beware the standard contract for any new development you are considering buying into.

All builder contracts include a waiver of right to sue, which means you-know-who will bear the cost of repairs for shoddy construction. Get your own lawyer to pinpoint that pesky clause and negotiate it out of the contract.