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New Homes in Broken Arrow | Placing an Additional Deposit
Speaker 1: (00:02)
Step number five is, is going to be the purchase agreement. So you’ve chosen a floor plan, your, your new homes in broken arrow. You have your home site, you have your, uh, mortgage approval and you understand pricing because you’ve priced out your new home in broken arrow. Now it’s time for the purchase agreement. At any time during the home site reservation for your new home and broken arrow, you can move forward with a purchase agreement and that the time of purchase agreement, we’re going to apply the funds from your Homesite reservation and an additional deposit towards the purchase of your new homes in broken arrow.
Speaker 1: (01:00)
At the time of your home site reservation, you reserved that one of a kind home site for your new homes in broken arrow, you made a Homesite reservation of $1,000. You decided to continue to move forward right on up to the purchase agreement. And what we’re going to do is we’re going to take that $1,000 and apply it as deposit towards your, the purchase of your new home in broken arrow. Now, the additional deposit that’s due at this time is going to be as follows. Uh, if your home price, your total home price is less than $250,000, your additional deposit due will be $5,000. And then of course, we’ll subtract the thousand dollar Homesite reservation, leaving you with a, a deposit of $4,000.
Speaker 1: (02:02)
If your new homes in broken arrow is $250,000, but less than $300,000, we require a $10,000 deposit. Of course, subtracting out your thousand dollar Homesite reservation, leaving you with a $9,000 deposit left. If your new home in broken arrow is $300,000, but less than $350,000, the additional deposit due is $15,000. Of course, backing out the thousand dollars deposit that you have already given as a Homesite reservation, leaving you with a $14,000 deposit due at the purchase agreement. If your new home in broken arrow is $350,000 or greater, then the deposit due at that time will be 5% of the total price, less the Homesite reservation of $1,000 leaving you with the total additional deposit due at this time. Now purchase agreement, there were two decisions that absolutely need to be communicated and finalized at this time. The first is your floor plan selection. And the second is the home site for your new home in broken arrow.
Speaker 1: (03:24)
These two decisions need to be finalized at this time. We do not need, uh, the selection of your color palettes, uh, the textures in your home, the finishes in your home that can be decided upon at a later time, but to continue moving forward, uh, with your new home build in broken arrow, we do need the, the two decisions to be made the floor plan, as well as the home site selection. At this time, your mortgage approval will also be due. And if there is need for a, a delay of build or perhaps a contingency because of a, a home that needs to be sold prior to the full purchase of a new home, we can work that into the, the purchase agreement at that time. Now what’s the purchase agreement has been signed for and the contracts and the contractual agreements have been, uh, signed for it’s.
Speaker 1: (04:35)
Now time to move on to the design studio. One of the benefits of working with Shaw homes in building your new homes in broken arrow is because we are the largest builder in Tulsa area. We also have the largest design studio in the Tulsa area. After purchase agreement, you will be invited to two, three meetings at the design studio, and it’s during this time at the design studio where you will have your very own personal design consultant that will help walk you through the process of picking out your colors, your finishes, your textures, all of the selections that will make your new home in broken arrow, uniquely yours. You’re going to be in very good hands. As these personal design consultants will be very intimately involved with your selections and that which you choose during these meetings. Your first meeting will include all decisions regarding the interior of your home. The second meeting will include all decisions needing to be made regarding the exterior of your home. And then lastly, the third and final meeting will
Speaker 2: (05:57)
Be the meeting where the review of your selections are, are, uh, are given at that time. And you sign off on the selections that you made. You’ll have tons of options to choose from to create the home that you desire to become your new homes in broken arrow. Step number seven is the actual plan review. And during the time of the plan review, now that your selections are finalized, the decisions have all been made. You’re going to meet your construction manager, who is actually going to be working directly with you all the way through to the completion of your home. The plan review is our internal system of checks and balances designed to make sure that the person responsible for building the home has had all the details of your new home and broken arrow correctly, communicated to them to ensure a smooth building process.
Speaker 2: (07:11)
Your construction manager will review your blueprints in your site plan, the grading of your land, the selections, uh, that go are going within your home. And they will also discuss with you. Timelines means and methods of communication. They will also go over and set a time for your homeowner orientation. They’re going to go over all of the full-size blueprints, the finishes, the home placement and everything will be, uh, communicated, reviewed, and, uh, moved forward during this time. Because once this meeting is completed, now it’s time to schedule the excavation and get started building your new homes in broken arrow. Step number eight, during the building process of the home, you’re going to have to schedule meetings with the construction manager. The first is called the pre drywall meeting. And this is the point in construction where we’re ready to dry wall your home, but we haven’t.
Speaker 2: (08:24)
All the guts of the home are still exposed for you to go over with your construction manager. That way, if there is anything that needs, uh, any adjustments that need to be made during this time, it’s a whole lot easier to do so before the drywall goes on the walls than it is afterwards. The second meeting that we’re going to schedule with you is called the homeowner orientation. Again, this is where you’re going to get a room by room walkthrough in your home with your construction manager. And they, at that time, we’ll help you to understand everything in your new home and how it works. Step number nine is the closing of your home. 30 days prior to the day of your closing, you’re going to receive an email from us with a closing letter. That’ll have a ton of helpful instructions and information to, uh, to take you through the closing process of your new home and a broken arrow.
Speaker 2: (09:29)
This letter will have all the contact information for the different utility companies that you’re going to need in order to contact them and get service turned on in your name. You’re going to meet at the title company office, all of the paperwork from Shaw homes necessary for closing for your new home and broken arrow will already be there. When you arrive. An agent of the title company will walk you through the paperwork and actually give you the keys to your new home in broken Herro. Once all signatures have been, have been completed. The last part, step number 10 of your new home in broken arrow is, is you begin the warranty period and the warranty for a Shaw home is the best in the business. We have Tulsa’s best new home warranty for homeowners in broken arrow and all around the Tulsa area. Wherever we build a new home, our warranty is Oklahoma’s best warranty to 10 year structural two-year mechanical and a one-year limited warranty on your new home. In broken arrow, you will have a, uh, an understanding of everything that this warranty covers in your homeowners manual. Uh, there’ll be an emergency phone number. If you need answers or help during non-business hours, we do have a full-time warranty coordinator on staff who will work with you and work, help work through with you through the different warranty needs that you may have during the time that you own your new homes in broken arrow.