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New Construction

A New Construction property is a piece of real estate that has completely new improvement on the property. This would be different than a renovation or rehabilitated property that may have many new features. A new construction property can require a different purchase contract than a standard resale home. There are also normally different warranties associated with a new construction. A new construction should also never have been lived in. It would only be considered a new construction if it was handed directly from the builder to the buyer.