I find that builders use the term "builder's close-out" way to often. This can be a very powerful marketing tool, used to lure potential home buyer into a builder sales office. Buyers think that they are always going to get a great deal at a "close-out" sale. Be careful, a builder might only be changing models, closing out some slow selling units (poor location or floor plan), he might be starting a new phase at the same location or just trying to attract customers.

Taxes
When buying new construction, make sure when buying a new construction home, make sure that the builder is contractually obligated to pay his fair pro-rata share of the taxes.   This is especially important when buying a spec home because once the home is finished the taxes will accrue at "completed home" rates.

New home warranties
Implied warranties vs. extended warranties.   Most states have laws which give the buyer protection against the shoddy workmanship of cheap builders that cut corners.  The implied warranty will normally cover defects in materials and workmanship.  Extended warranties are purchased by the buyer and cover the same type of defects but for longer periods of time.

Inspections
Before closing on the home you will be allowed a walk through inspection of your home where you will create a list of defects that the builder agrees to fix after closing.  Since most of us are not professional home inspectors, it may be wise to hire an inspector to participate in the walk through with you.  Online resources to help you find a qualified inspector include The American society of home inspectors (ASHI) and the National Institute of Building inspectors (NIBI).