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Old 2009-05-31, 02:57 AM
addtemp addtemp is offline
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Arrow New Home Buying Process

I need some clarification on the whole Process of buying a New Home from beginning to the end. Can someone kindly explain to me the following points. Here ismy understanding please correct or add to it so that i have clearer idea

(1) You have to sign some document (Agreement?) when you go to Preview Opening or otherwise and want to buy a House. Usually they ask for 5K Cheque. You need to bring Cheque Book and Id there.

(2) You need to Have a Lawyer Review (1) document. My question if you already signed (1) then what can a Lawyer do now. How can he change conditions like closing costs etc. What precisely you should be checking . I mean to know if Lawyer is doing proper job. What he should be checking. Any tips here. Also Make Financial arrangement and get Mortgage Approval.

(3) You have to resubmit the Lawyer revised document and will also have to pay aroynd 30 to 45K in 3 months depending on price of the house you bought.

(4) Next would be the Structural Changes appointment unless builder has information sessions.

(5) Non Structural Changes appointment.

(6) PDI .. where you should bring House Inspector optionally.

(7) Closing.. Lawyer needs to get involved here again.

(8) 30 Day inspection. Again Home Inspector could be Handy to check the work done.

(9) 12 months inspection.


Did I miss something or some other individual that needs to get involved in here or some other thing that needs to be done?
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Old 2009-05-31, 03:47 AM
SoNgMaN SoNgMaN is offline
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to answer your question you MUST include clauses in the agreement which state upon solicitor's approval and proper financial arrangements are made. usually have a 7 day limit maybe less and are waived after the limit is up.

if your lawyer finds something he/she doesn't like they will make an amendment to the sales agreement. both sides will need to sign off on this. builder may come back with a counter on occasion.

everything else sounds about right from what I can tell.

also some builders have a pre-construction meeting and a frame walk during construction.
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Old 2009-06-01, 09:21 AM
addtemp addtemp is offline
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Thank you SongMan that was quite helpful. So all you have to do is to show up at Sales Center with a Cheque Book and Id with 5K in bank Account
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Old 2009-06-01, 09:26 AM
SoNgMaN SoNgMaN is offline
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Quote:
Originally Posted by addtemp View Post
Thank you SongMan that was quite helpful. So all you have to do is to show up at Sales Center with a Cheque Book and Id with 5K in bank Account
more or less. I don't remember if we were asked for ID but we must have been
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