If you plan to purchase a Jacksonville new construction condo or Jacksonville Fl new construction home in 2007, the developer will present you with a form contract. You should carefully deliberate over the contract before signing anything. In recent years, these contracts were often one-sided and in favor of the seller, but with a cooler market, you should negotiate. For instance, many contracts do not have a fixed time as to when a settlement will occur. Many prospective home buyers have been confronted with major delays because the developer was not able to finish the delivery of the house in a suitable amount of time. This can be a major problem, especially when interest rates are creeping upward. Insist on a timely delivery with a penalty if not met.