The single most useful question to ask a builder before signing is: "What happens to my deposit, my rate lock, and my incentive if the closing date moves?" New-construction contracts are written by the builder, completion dates are estimates, and incentives are often tied to the builder's preferred lender and a fixed closing timeline. A delay can therefore affect three things at once: your deposit, your interest rate, and the incentive you based your budget on. Getting the answer in writing before you sign protects you far more than negotiating a few thousand dollars off an upgrade.
Why Does the Closing Date Matter So Much?
Unlike a resale home, a to-be-built or under-construction home does not have a fixed move-in date. Builder contracts commonly include language allowing the completion date to extend for weather, permitting, labor, or material delays, and the builder is often not liable for those delays. Meanwhile, your rate lock may expire, your current lease or home sale may be on a deadline, and an incentive such as a rate buydown may require closing by a certain date. Ask specifically how long the builder can extend, whether you can cancel and recover your deposit if the delay goes past a set point, and who pays to extend a rate lock.
What Should I Ask About Deposits?
Ask how much is due at signing and later, when each deposit is refundable, and what conditions allow the builder to keep it. Compare this with the earnest money rules in our earnest money post, because the protections you have in a resale contract do not automatically carry over. Also ask whether upgrade selections you pay for at the design center are refundable if the deal falls apart, since those payments can be treated differently from the base deposit.
How Do I Compare the Builder's Incentive With Outside Financing?
Builder incentives in 2026 have commonly ranged from about $25,000 to $60,000 on production homes, delivered through rate buydowns, closing-cost credits, and design-center allowances, but they frequently require the builder's preferred lender and title company. Ask: "What is the incentive worth if I use my own lender, and what is the monthly payment both ways?" Get the comparison in writing. A buydown that looks large can be less valuable than a lower rate from an outside lender, and the answer depends on how long you plan to keep the loan.
What Else Should I Confirm Before Signing?
- What is included. Ask for the written spec sheet, since "standard" can vary widely between builders and plans.
- Upgrade pricing. Ask whether upgrade prices are locked and when selections must be finalized.
- HOA and assessments. Ask for the HOA budget, dues, and whether any special improvement district or bond assessment appears on the property tax bill.
- Warranty. Ask for the full written warranty, what each coverage period includes, and how claims are submitted. Nevada's NRS Chapter 40 also sets a process for construction-defect claims, so have an attorney review the contract.
- Independent inspection. Ask whether you may bring your own inspector at key stages and before closing. A new home still benefits from a licensed inspection.
- Low appraisal. Ask what happens if the appraisal comes in below the contract price.
New Construction Contract Checklist
Question | Why It Matters |
|---|---|
What happens if the closing date moves? | Affects deposit, rate lock, and incentive |
When is my deposit refundable? | Protections differ from resale contracts |
What is the incentive worth with an outside lender? | Preferred-lender conditions can change the real value |
What exactly is included in the base price? | "Standard" varies by builder and plan |
Are upgrade prices and selections deadlines fixed? | Prevents surprise costs |
Any special assessments or bonds on the tax bill? | Raises true monthly cost |
How do warranty claims work? | Know the process before you need it |
Can I bring my own inspector? | Independent review before closing |
Local Context: Why This Matters in the Current Las Vegas Market
Builder incentives in the valley have been unusually aggressive in 2026, which makes the details of how they are delivered more important than the headline number. Builders in the valley often hold base prices firm and compete through credits and buydowns, so the conditions attached to those credits are where buyers most often get surprised. For more on how new construction compares with resale, see our post on new construction vs. resale homes in Las Vegas.
Related Reading
Our guide to the new construction process in Las Vegas explains the steps from contract to closing, and our post on down payment assistance in Nevada covers programs that may or may not combine with builder financing, depending on the lender.
This post reflects general information about new-construction contracts as of publication and is not legal advice. Builder contracts vary and are written by the builder; consider having a real estate attorney review yours before you sign. Speak with Sherwyn or Ferguz Colonia for guidance on comparing builders and incentives.
Sherwyn Colonia, NVRE License #S.185645 | Ferguz Colonia, NVRE License #S.199036 FIV Realty | (702) 234-5985 | thecoloniateam.com This is not intended to solicit properties currently listed for sale. Equal Housing Opportunity. All information deemed reliable but not guaranteed. We are committed to compliance with the Fair Housing Act and the Nevada Real Estate Division's licensing and advertising regulations. Sherwyn and Ferguz Colonia help buyers evaluate new-construction contracts, incentives, and timelines across the greater Las Vegas Valley.
