Buying Process
Buying Process
Is my deposit refundable?
Yes, fully refundable during the 14-day due diligence period.
Is my deposit refundable?
Yes, fully refundable during the 14-day due diligence period.
What are the steps to purchase?
The process is straightforward: (1) Interest & Agreement " buyer expresses interest, price is agreed upon. (2) Earnest Money Deposit " $5,000 deposit, fully refundable during due diligence. (3) Due Diligence (14 Days) " 14 days to review contracts, can back out for any reason with full refund, no visit required. (4) Increase Deposit to 50% " if buyer doesn't cancel within 14 days, deposit increases to 50% of purchase price. (5) Construction Trigger " construction begins once 4 of 8 shares are sold, or after 1.5 years (whichever first). (6) Full Payment into Escrow " once construction starts, remaining buyers put 100% into escrow. (7) Property Transfer & Closing.
What are the steps to purchase?
The process is straightforward: (1) Interest & Agreement " buyer expresses interest, price is agreed upon. (2) Earnest Money Deposit " $5,000 deposit, fully refundable during due diligence. (3) Due Diligence (14 Days) " 14 days to review contracts, can back out for any reason with full refund, no visit required. (4) Increase Deposit to 50% " if buyer doesn't cancel within 14 days, deposit increases to 50% of purchase price. (5) Construction Trigger " construction begins once 4 of 8 shares are sold, or after 1.5 years (whichever first). (6) Full Payment into Escrow " once construction starts, remaining buyers put 100% into escrow. (7) Property Transfer & Closing.
When does construction start?
Once 4 of 8 shares are sold, or after 1.5 years " whichever first.
When does construction start?
Once 4 of 8 shares are sold, or after 1.5 years " whichever first.
How does the escrow release work?
Escrow is released at construction milestones: 50% when construction starts, 25% when walls and roof are completed ("obra gris"), and the final 25% when the home is completed and property is transferred.
How does the escrow release work?
Escrow is released at construction milestones: 50% when construction starts, 25% when walls and roof are completed ("obra gris"), and the final 25% when the home is completed and property is transferred.
When do I officially own my share?
Membership interest transfers after final deposit and property conveyance.
When do I officially own my share?
Membership interest transfers after final deposit and property conveyance.
Do I need to visit before buying?
No visit is required. You have a full 14-day due diligence period to review contracts and can back out for any reason with a full refund during that time.
Do I need to visit before buying?
No visit is required. You have a full 14-day due diligence period to review contracts and can back out for any reason with a full refund during that time.