Saturday, January 2, 2010

A timeline prior to ground breaking

Once you pick your development, your style of home, and your lot - it's time to work on the finer details of your new house!

  1. Sign your contract and give Ryan Homes your deposit. Your lot will not be held without this. We were able to give them a small amount ($1000) at the initial contract signing and then a larger amount 30 days later.
  2. Meet with their mortgage broker within 7 days of signing your contract to complete the necessary paperwork for loan approval.
  3. Within 14 days of signing your contract you must make all of your exterior and interior decisions at a 2nd meeting with your sales representative. During this 14 day time period you also have to meet with their flooring company (in North Olmsted) to finalize that portion of your house also. *If you make any changes to your options and upgrades after the 14 day time period, you will pay a $200 change order penalty.
  4. About a month after you sign your contract you'll meet with a representative from Guardian Technologies. This is the company that tries to sell you a alarm system, sound system, additional phone, cable, and internet outlets. This company is paid directly by you to them. The costs are not rolled into the mortgage. This must be why you can meet with them after the 14 day period.
This is as far as we have gotten in our process. We'll be meeting with Guardian this week. We're also trying to sell our home, but were approved for both mortgages so there's no chance we'll lose our new lot and home. If you are not approved to own both homes, your Ryan Homes sales agent will talk to you about being on a contingent plan. Essentially what this means is you can pick a house and lot, but if someone who has been approved to own 2 homes wants your lot, you get bumped to another lot. I will come back and update my blog as we move forward.

Our sales rep stated it takes about 72 days to build a home - even in the dead of Winter. Our ground breaking is set for the end of January with possession in April.  She said to keep her updated on the progress of selling our current home and if we need to move our closing date on the Ryan home up or back to let her know and she'll work on this for us.

Say a prayer we sell our house in time!

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