One of the increasingly popular options for purchasing a new house is to buy from a property developer who may not have actually built the house. Contract builders are brought in to construct new homes in subdivisions; the developer then sells on. This can result in a nice new house at a reasonable price.
However, there are risks associated with this type of purchase about which many people are not aware. Some of these risks can be mitigated with sensible contractual protection built in, others are simply risks that you can’t reduce.