Wednesday, April 7, 2010

The Papers are Signed!

Last night we spent nearly 2.5 hours with our sales rep at Ryan Homes and walked away with a signed and dated Purchase Agreement to build our new home!  We have a contingency addendum on the agreement, which allows us to lock in the current pricing and select our lot (407, baby!).  We have to make a payment to Ryan Homes every 30 days to keep the contingency agreement current, but the money goes towards the downpayment of the home.  Plus, if we decide for any reason that we no longer want to move forward, we get 100% of our money back, no questions asked.  To us this was a win/win situation.  We know that we're moving forward - just as long as our house sells.

So signing the mounds of paperwork last night set off a chain reaction of deadlines and meetings - all of which will be happening in the next two weeks.  We're going to be busy people.  I am SO happy that we took the time in the past 3-4 weeks to sit down and seriously talk through upgrades, options, wants versus needs, etc so that we don't feel like the walls are closing in around us in these 14 days.  We feel very, very prepared!

Must be done in next 14 days:
  • Meet with NVR loan officer for mortgage loan approval process, discussions around locking in rates, decision on 15-year versus 30-year mortgage, etc.  This has to be done within the next 7 days; We have this scheduled for this Thursday.
  • Solidify all structural decisions (this includes homesite, house type, front elevation, and fireplace). Must be done in next 7 days. We already have all of this decided upon and locked in.  Any changes to any structural decisions past the 7 days mark are subject to a $750 fee per change.
  • Meet with flooring sales associate in Oakwood to pick out all hardwood, tile, and carpeting for the house.  This is the one aspect that we haven't seen any pricing or options around.  This actually has to happen within the next 10 days.
  • Solidify all upgrade decisions.  We have the bulk of these decisions made and just have a few different things that we're going back and forth on.  This must be done in the next 14 days.  Any changes to any upgrades past the 14 day mark are subject to a $250 fee per change.

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