serve you better, here are some of the most frequently asked questions
we receive from homebuyers.
|Q. How do I reserve a lot?
A. A signed Deposit Agreement and your $1,000.00 check will reserve the homesite and home design of your choice and lock in today’s pricing for 7 days.
long do I have before I must sign an actual Agreement of Sale to purchase?
A. Within 7 days of your $1,000.00 deposit, an Agreement of Sale must be
signed and the balance of your $10,000 deposit paid.
|Q. What if I want to make changes
to the house?
Based on four generations of experience building over 6,000 homes for many different homeowners, we have determined the most sought-after options and prepared an Options Manual that offers a wide variety of pre-planned options to personalize your home. However, should you wish us to consider an option or change to the house plans that is not included in our Options Manual, AFTER DEPOSIT BUT PRIOR TO SIGNING YOUR AGREEMENT OF SALE, your Sales Professional will ascertain whether or not we can entertain such a request and obtain a price for you. If you decide to purchase the custom change, you will be required to sign a Custom Work Authorization and pay the amount in full. Requests made after Agreement of Sale signing may be impossible to entertain (and if they are possible, they will entail a minimum additional $300 administrative fee per change), so please take the time before your scheduled Agreement of Sale signing appointment to consider whether you wish to request a custom change.
information regarding custom changes, please consult with your Sales Professional
prior to signing your contract.
When do I make my interior selections?
A. You will be contacted by our Design Gallery Coordinator within a day or two of signing your Agreement of Sale to set an appointment. All selections must be completed within 10 days of the Agreement of Sale signing. Those using our Preferred Lender may choose to defer payment of interior selections until settlement. Cash buyers and those using other lenders may choose to pay for the interior selections in full or make a 30% down payment on same at the time of the appointment, with the balance due at settlement. Any payments due for interior selections must be paid at the time of selection.
Q. What if I change my mind about some of my selections afterwards?
A. Since we begin inputting your selections into our automated purchasing system immediately upon receiving them, and because the various components of your home require different ordering and delivery times, this is not always possible. This is why we urge all homebuyers to consider their choices carefully, and even “window shop” in our Design Gallery, prior to their appointment with the Design Gallery Coordinator. However, if there is something you wish to add or change, the Design Gallery Coordinator will ascertain whether or not we can entertain such a request and, if so, will complete a Custom Price Request form and obtain a price for you. If you decide to purchase the custom change, you will be required to sign a Custom Work Authorization and pay the amount in full. Please note that the final price will include a minimum $300 administrative fee per change.
Q. Why should I use your Preferred
A. There are many good reasons for using our Preferred Lender:
- Using our Preferred Lender enables you to finance 100% of your structural and Design Gallery options, rather than having to pay a 30% deposit on them (custom changes must always be paid 100% in advance, however).
- Every home buyer wants to be sure he is getting the best interest rate and terms possible in the current marketplace, but how can you be sure of doing so without filling out numerous applications (and paying numerous application fees) all around town or, worse still, on the Internet? Our Preferred Lender will take just one application from you and present it to numerous lenders, both locally and outside the area, ensuring that every effort is made to get you the very best terms for your particular financial situation. And he’ll have a fully underwritten commitment to you usually in less time than it would have taken you to complete and submit just the applications on your own.
- You will not pay any fees unless and until you accept a mortgage commitment from our Preferred Lender. With other lenders, you may pay an application fee or other fees upfront and if you find the terms of their mortgage commitment unacceptable, those monies are essentially lost.
- Our Preferred Lender has access to numerous lending institutions and, thus, can make an incredible array of conventional and creative financing available to you, depending upon your unique situation and requirements.
- Many lenders do comparatively few new construction loans and, therefore, don’t have the experience our Preferred Lender has in this unique aspect of the real estate industry. Our Preferred Lender has consistently gotten every loan package to the closing table in a timely fashion, with no “last minute surprises” – a situation that, sadly, is not always true of other lenders and which usually costs the home buyer additional money at settlement. Some examples of the “last minute surprises” we have experienced with other lenders are: delay of settlement due to their inflexible internal procedures, refusal to close on the appointed day unless they receive certain paperwork as much as a week prior to settlement (not always possible due to the variables of new construction), unexpected costs and fees to the borrower, etc.
Q. What if I decide to change mortgage companies after receiving a commitment?
A. There are several things to consider here.
- One of your obligations under the contract is to maintain your commitment once it is received. Should you breach this contractual obligation, the Agreement of Sale can be declared null and void and your deposit monies forfeited.
- If you had previously taken advantage of our “no-money-down-on-options” program, when you change to a lender other than our Preferred Lender, you will be required to make a 30% down payment on all options, both structural and design.
- Changing mortgage companies mid-stream can result in your not being ready for settlement. Failure of your mortgage company to cooperate with our Settlement Coordinator and/or have its mortgage package at our offices in time for settlement will result in your being charged a delay of settlement penalty, in accordance with the terms of the contract. Experience has shown us that our Preferred Lender has loan packages at the closing table in a timely fashion, and those “last minute surprises” (noted above) are virtually non-existent for those choosing our Preferred Lender.
Therefore, not only is changing mortgage companies not recommended, but choosing a lender other than our Preferred Lender may lead to a more difficult process and/or settlement.
|Q. Can I walk through the house
while it is under construction?
A. Our innovative Customer 1st Program allows our homebuyers three separate opportunities to tour the property: A homesite inspection prior to groundbreaking, a Pre-insulation Orientation, and a New Home Orientation prior to settlement. You must be escorted by our representatives during these visits. At pre-insulation, you will be assured that all “in-the-wall” included features and options have been installed. After painting has been completed, you will have an opportunity to measure your walls and windows for furniture placement, draperies, etc. Your New Home Orientation is the means by which you are oriented to your home just prior to closing and note any warrantable items that may need adjustment.
Q. The settlement date is in the Agreement of Sale, but how do I know what time I’m supposed to show up for the closing?
A. Our Settlement Coordinator will contact you to schedule the actual date and time of the closing, once she has received word from the Construction Department that your house may be scheduled. She will then advise your mortgage company, title agency, and attorney (if any) of the date and time of settlement and coordinate all the details with them. This occurs approximately three to four weeks prior to settlement. Please be reminded that the date in your Agreement of Sale is an anticipated settlement date only and that, due to the many variables in new home construction, your actual settlement date may be different than that in the Agreement of Sale.
|Q. Whom do I call during the building
process if I have additional questions?
A. Your Sales Professional is ready to assist you with any questions.
If they cannot answer them directly, they will contact the appropriate
person and get back to you promptly.
|Q. Will my house look just like
the model home?
A. In order to help you envision how you might wish to personalize
your home, most of our model homes are enhanced with numerous upgrades,
options and even designer items and built-ins that are not offered by
the builder. Please refer to the Standard Features List included in your
brochure or ask your Sales Professional and/or Design Center Coordinator
what is included in your home.
|Q. Can I have any of my own contractors
do work on the house while it is being built?
A.Insurance regulations and building permit restrictions prohibit this. Neither are our employees and subcontractors permitted to contract with you individually for such work. If you are interested in having something included in your home as it’s being built, speak to your Sales Professional about this. If we don’t offer what you are looking for, perhaps we can price it on a custom basis. But please refer to the questions above as to timing and pricing so you are not disappointed. If you find yourself with other questions, please contact your Sales Professional.