Start your financing – Submit your loan application within the time period stated in your purchase documents with one of our preferred lenders or a lender of your choice. Your lender will look at your assets, your credit and employment and income to determine the best financing available to suit your needs and expectations.
Design selections – Complete your Builder and Design Studio selections. If you are planning to finance these options with your loan, you will need to keep your lender informed as to the final purchase price of your home including the selected options and upgrades.
Financing contingency – Within 25 days of signing your sales documents, you will need to supply final loan approval from your lender's underwriter stating that you are approved for your loan subject only to the appraisal of your new home.
Thirty day letter – Thirty days before closing, you will receive a courtesy 30-Day Notice which establishes your Home Orientation Date and anticipated closing date. At this time, you will need to contact your lender to assure that your loan documents will be sent to escrow two weeks prior to the closing date. This is also the time to notify your insurance agent to obtain a policy that satisfies your lender, to finalize moving plans, and to make sure your funds are available for closing.
Escrow appointments and closing – Once your documents arrive at escrow, which we request two weeks prior to your anticipated closing date, the Escrow Officer will review the documents, determine the funds needed for closing and schedule your appointment to sign your loan documents. The Escrow Officer will also advise you that funds must be brought to Escrow in the form of cashier's check or wire transfer.
Home orientation – Your Community Sales Representative will contact you to schedule your Home Orientation tour with a Warranty Representative. The purpose of the Home Orientation is to explain the way your home works – the heating, electrical and mechanical systems, shut-off valve locations and the systems you have selected, as well as the warranty service procedure. Any items noted on your Orientation will be addressed by construction and warranty as soon as possible, but we cannot guarantee that all items noted will be complete prior to your closing date.
Utilities – You will need to notify the various utility providers of your move so that service is provided in your home. We suggest you contact these companies at the time you receive your thirty day letter, but that the service change be delayed until the closing date. You will receive a list of the service providers for your Community in your Warranty Manual at the time you sign your sales documents.
Five day notice – You will receive a 5-Day Notice to Close letter which officially establishes your closing date. Your closing date is generally within 2-5 days of your Home Orientation.
Closing your home – after you have signed your loan documents and deposited the closing funds with Escrow, your Escrow Representative will return your loan documents to the lender for review and request "funding" – the process wherein the lender wires the proceeds from your loan to the Title Company. Once the funds from your loan are received at Title, the Title Officer will send the Grant Deed to the County Recorder's office for recordation.
Just a reminder… timing is important to facilitate the closing of your new home. We ask your cooperation in working with your lender, the escrow company and the sales representative to ensure a smooth transition. Your lender may require up to 72 hours once loan docs have been returned from Escrow before they will fund your loan. Generally, if Escrow has the funds by noon one day, recordation will take place the following day; but if funds are received late, recordation may be delayed. On the day your closing records, it may take several hours for Escrow to confirm that it has recorded. You may wish to schedule movers for the day after your anticipated closing date as we cannot give you possession until we have official notice from Escrow or Title that recordation has taken place.
Your Community Sales Representatives will happily assist you throughout the purchasing process.
Move in – As soon as we receive confirmation that your home has been recorded, the Community Sales Representative will hand you the keys to your new Braddock & Logan home!
