Chapter 5
Purchaser's Obligations

Learning Objectives:

1. To understand the importance for new home salespeople to have a thorough knowledge of their own company’s new home purchase contract.

2. To discuss some of the common contractual obligations of new home purchasers.


Most new home purchase contracts specify similar purchaser obligations. This Chapter will review many of the terms and conditions frequently used by homebuilders. However, purchase contracts vary from builder to builder, and new home salespeople should be VERY familiar with the language in their Company’s own new home contract.

Read your purchase agreement, ask questions, and study the terms and conditions until you become confident in your understanding of the purchaser obligations and seller obligations contained in your contract. Your sales manager and your designated broker are usually excellent sources of information on your Company’s purchase contract.