Showing posts with label Homesite Reservation Form. Show all posts
Showing posts with label Homesite Reservation Form. Show all posts
Tuesday, June 4, 2013
Day 12 - Underground Plumbing & Backfill
Today we got underground plumbing. I can't show you a picture of that, obviously! LOL. I can show you the backfill/initial grading of the lot. It's not as bad as it could be but it still doesn't satisfy me. It's still pretty far from the expectation set when we moved forward with the Homesite Reservation and Purchase Agreement. Lots of pictures to follow!
Monday, March 18, 2013
Good Faith Deposit
A good faith deposit is nothing more than an amount of money that indicates our seriousness in buying the property/house. It's the step after the reserving the lot.
I researched it a bit and it differs in amounts based on a number of factors, including but not limited to location, builder, and amount of loan estimate. Typically the amount of your good faith deposit will roll into your down payment, closing costs, or fees. Fortunately, in most cases, if the deal falls through or the contract is cancelled and as long as the parties are all acting in good faith the money will be refunded.
I've read several blogs and I haven't come across any in which the good faith wasn't refunded or even the original check returned. What I found a little humorous even is that some of those people even went back to Ryan Homes and resigned for either another neighborhood or even the same lot!
I think I've found a new best friend in our SR. She's been great with explaining what these new financial words and phrases mean... but this hasn't stopped me from searching out a "financial dictionary" I'm OCD like that. I'm a sponge and I want to know more and more about everything. I've called her quite a few times with questions concerning the expectations of our good faith deposit and the payment plan of it.
Good faith deposits are on the up and up and it protects the parties involved in this process. I understand it's not only for our sake but that of Ryan Homes. If we decide to purchase this home we'll have to have partial payment of the good faith deposit on Tuesday. We have a meeting with the SR then to either proceed or withdraw from this process. It looks like we may be moving forward. We like the neighborhood. We like the home we've selected (although it wasn't the one we initially decided we liked more last year) and my children seem to like it and have already selected their bedrooms.
I researched it a bit and it differs in amounts based on a number of factors, including but not limited to location, builder, and amount of loan estimate. Typically the amount of your good faith deposit will roll into your down payment, closing costs, or fees. Fortunately, in most cases, if the deal falls through or the contract is cancelled and as long as the parties are all acting in good faith the money will be refunded.
I've read several blogs and I haven't come across any in which the good faith wasn't refunded or even the original check returned. What I found a little humorous even is that some of those people even went back to Ryan Homes and resigned for either another neighborhood or even the same lot!
I think I've found a new best friend in our SR. She's been great with explaining what these new financial words and phrases mean... but this hasn't stopped me from searching out a "financial dictionary" I'm OCD like that. I'm a sponge and I want to know more and more about everything. I've called her quite a few times with questions concerning the expectations of our good faith deposit and the payment plan of it.
Good faith deposits are on the up and up and it protects the parties involved in this process. I understand it's not only for our sake but that of Ryan Homes. If we decide to purchase this home we'll have to have partial payment of the good faith deposit on Tuesday. We have a meeting with the SR then to either proceed or withdraw from this process. It looks like we may be moving forward. We like the neighborhood. We like the home we've selected (although it wasn't the one we initially decided we liked more last year) and my children seem to like it and have already selected their bedrooms.
Saturday, March 16, 2013
This is all so fast...
So, over these last few days, before our scheduled meeting with Elizabeth, the Ryan Homes sales representative today, I had been doing a lot of research on Ryan Homes, quality of homes built by Ryan Homes, and customer service satisfaction. I spent a lot of time on their website, on blogs, on home building sites, and customer complaint websites. Some of the information I found was very scary. There was also an overwhelming amount of positive information as well.
To be honest, the negative reviews are scary to me. I'm a limited income single mom with the hopes of finding a good quality home that will last the years for myself, my mother, and my children. Money doesn't grow on trees around us. I've always been a person to read reviews and to do my research, but I also to go to the horses mouth. I knew that no matter what I learned that we planned to attend the appointment, if only for informational purposes. Let's compare our process. I found this on the Ryan Homes website:
RYAN SIMPLIFIES HOMEOWNERSHIP
- Reserve a Homesite
- Personalize Your Home
- Make a Purchase Agreement
- Apply for a Mortgage Loan
- Complete Your Down Payment
- Construction Begins
- Go to Closing and Move in
When I walked through the model home's door I saw a very smiley face. I introduced myself and my mother to the SR and peeked a little at the framed site map and model home floor plans, but it took 45 seconds for us to walk into the office and get right down to business. Sometimes you just have to skip the fluff. I didn't want to get too hopeful and wander too much around a model that may not even be within our reach.
Our Process
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