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Broken Arrow Home Builders | Too Far Away From The Old House?
Hey, welcome back to this article. Thank you for digging deep to find all the answers that you’re looking for for your Broken Arrow Home Builders.
Hi. Today we’re still going through that path, the 10 easy steps to get you into your brand new Shaw home. We’ve already covered step number one, two, three and four. So we’re going to be continuing on from there in this article. If you’re looking for a new home, Edmond, um, feel free to read any of the other articles or go to Shaw homes.com. Make sure you get all the information so you can make the best decision for you and your family. All right, so to recap, quickly, step number one was the model home tour. Step number two was financing. Step number three is the Homesite reservation. Step number four is the price out. And now we are on step number five for your Edmond new home. So for your Broken Arrow Home Builders, step number five is called the purchase agreement. So the purchase agreement you are now, you’ve picked out your floor plan that you love, the version of that floor plan you picked out what community you want to be building in, right down to the home site.
You want to be building it on, whether it’s, you know, facing West, uh, backing up too upon and it’s in a col-de-sac really whatever Homesite you want it to be on. So you are now ready and you’ve already sat down to price out the home. So you’ve already picked out everything going into the home. You picked out the hardwood and the tile and everything else. So you are ready to move forward and build your home. Start the process to building your Edmond new home. So the first thing we do on the step number five purchase agreement is we will actually watch a informative video. It’s about one, it’s about a 45 minute long video. But this is here to help you figure out, I’m sorry it’s here to help answer any last minute questions. Help set the expectations moving forward and really to help reassure you that you know, you have chosen a great home builder and a great company to build your Edmond new home.
So during the video, like I said, it’ll answer all of those last minute questions. And then if you have more questions after the video, we will be happy to answer any questions before we, we move forward and sign the purchase agreement. Um, the only thing that you would have to be 100% certain on at the purchase agreement is the floor plan. You chose any structural changes to this floor plan. Maybe you had a custom where you wanted to push out maybe an exterior wall or do something that changed the roof line or maybe change the garage. Um, so all of that has to be known and documented before you sign this purchase. Mainly because we send out for building permits for your Broken Arrow Home Builders. Uh, and uh, it has to be very exact whenever we submit it to the city. Um, so if you do make any changes after this fact for the floor plan, unfortunately there will be a cost involved to do that.
The other thing you have to be home 100% certain on is the home site you want to build it on. Because again, since we’re still sending out that building permit, they have to know what we’re building and where we’re building it. Other than that, you can change your mind on anything else that’s cosmetic or on the inside of the house. So colors are not final finishes are not final that you made in the, uh, price out stage. So if for some reason you get into the design studio, which is step number six and you see the hardwood looking tile, but in the price out, you selected actual hardwood for your new homes, Edmond, uh, then you are more than welcome to change your mind and switch anything that’s cosmetic and not structural. And the price will go up or down by a predetermined amount. So we’re not [inaudible] lock you in at a higher price or anything like that.
So if you change your mind and the price goes down, uh, then the price will go down on the contract. So no problem at all. You are more than welcome to change your mind on the build process. Um, additional deposits are also due. So if you are building a home with us and it’s on one of our homicides, if the homes are between zero and $250,000, there is a $5,000 earnest money requirement. And again, that’s earnest money. So that’s, that’s your money. Uh, it’s something that we’re going to put down on your house so you’re not going to lose out on that or anything. Um, so no worries there. If the home is between zero, I’m sorry, $250,000 and $300,000, then your earnest money deposit would be $10,000. If your home is between $300,000 and $350,000, then it would be a $15,000 deposit. And if your home was over $350,000, then it is just a 5% earnest money requirement at that point.
And again, that is your earnest money. So the reason we require that earnest money is because Glen Shaw is the one taking all the risk, letting you design and pick out everything and your new homes. Edmond. Um, so he just wants to make sure we’re all in this together. We’re working on the same team. And then at closing, once we, once we handed the keys and you’re ready to move in, uh, we give you back all that earnest money or put it down towards your house. So if you’ve, if you’ve given us $10,000 and you wanted to have, you know, $50,000 to put down at closing, you would just bring an additional $40,000 to put down on your home. Um, since that earnest money is your money for your Broken Arrow Home Builders.
Um, another thing that we do is called a contingent contract. So if you have a home to sell before you can build your new homes, Edmond, a Edmond new home, then we do what’s called a contingent contract where we give you four months to list and sell and close on your home. And then start the process after that. But if you do that, it locks in the price, the home site. Um, the incentive that way you’re paying, you know, today’s price four months from now and saving a lot of money for your Broken Arrow Home Builders.
And if for some reason your home doesn’t sell in four months, whatever you have given us is 100% refundable. So we don’t keep any of it that way. Again, if you’re, there’s no risk at all for you to do that contingent contract, but there’s a lot of benefits allowing you to lock in the price, the incentive and that home site for four months. Um, that way, you know, if prices go up next month and you’ve already signed that contingent contract, you just saved a lot of money by, you know, having some foresight and signing the contingency upfront. Um, another thing we do is called a delay of build. So we do this often if maybe you want to move in a different time of year, maybe want to move it in the spring and you’re still, you know, a little ways away from that. And you would need to, you’re ready to move forward now.
But I wanted to wait a couple of months to start the process. Um, we would do is delay a bill during the delay of bill. Again, we give you four months to delay the build and you can release that delay at any point. Um, and this just allows you to kind of choose when you want to be moving in. For some examples with your new homes, Edmond, maybe you’re in a lease that’s not up for another 10 months and it typically takes about six months to build at home. So you might want to delay it for four months and then start the process that way your lease is up and you’re moving out near the same time. Um, so that’s how you do a delay of build. And we’ll also need a mortgage approval letter at that time.
And this is just something that you’d get from the lender that you during step number two. And then congratulations, you’ve just signed that purchase agreement and you are ready to move on to the design studio for your Broken Arrow Home Builders So step number six is the design studio and we’ll cover that in the next um, article. But to recap really quick, those first six steps on our path to your brand new Edmond new home. So step number one is that model home tour. A lot of fun for you and your family to join in and look at beautiful decorated model homes. Then step number two is financing. You talked to one of our lenders, make sure your monthly payment is exactly what you’d want it to be. Step number three is looking at our home sites. Finding the right floor plan are the right homicide that fits you and your family and the right community. Step number four is the price out. This is where you get to build your home on paper before you make any commitments. And then if you are ready to move forward and everything looks just right and the price is right, you will sign that purchase agreement. Um, give us that earnest money deposit and then we’ll send you to the design studio for your new homes. Edmond.
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