December 5, 2017 - The Buying Process Simplified: 14 Steps to Your New Home
New construction homes come with amazing perks, like the ability to make selections and finishes that suit your exact tastes and best of all—the fact that everything is new. But in the wrong hands, all the steps involved in buying a new construction home can become daunting and stressful. At Lexington, we understand that—after all, we’ve built over 40,000 homes in over 40 years. So we’ve used our experience with homebuyers to ease the process.
We acknowledge that there are many steps in the home buying process, and we partner with our homebuyers to guide them through each one with the least amount of stress and strain. The 14-step process below is comprehensive and thorough to what it will take to get you smoothly from contract to closing.
1. Purchase agreement and deposits. Sign an agreement that includes details about your new home, where it is located, and the cost.
2. Mortgage loan application and approval. Apply for a mortgage with your own or a suggested lender.
3. Consider a preferred lender. We’ve built relationships with lenders we trust who we know will take care of our buyers.
4. Finalize mechanical options. Select options for framing and mechanical work 6 months before home delivery.
5. Finalize interior options. Make design choices with the help of a Lexington Design Consultant to reflect your style 3-4 months before home delivery.
6. Finalize building schedule. You will have a good idea of closing dates when you begin, but 8-10 weeks before closing we will give you a firm date for delivery.
7. Construction. Your home will be built with a smooth timeline, according to the best way to make progress. You will have pre-arranged visits at key points throughout construction to track the progress.
8. Pre-drywall orientation. Your pre-drywall visit will allow you to see the important behind-the-walls elements so you can see the high-quality work and materials behind the walls.
9. Escrow schedule. When we are closer to finishing construction, you’ll receive an email, followed up with a certified letter with the time and location for escrow closing, your orientation appointment time (see 10), and a preliminary closing package with final information for closing and occupying the home.
10. New home orientation. This walk-through with a Construction Manager allows you to view your home and be sure it meets quality standards, understand the systems of your home and learn maintenance items, and ask any questions.
11. Escrow closing. This process gives you the legal title of your home. Here you will provide a certified check with the balance of your downpayment and closing costs, and other lender requirements. Once closing is complete, you can move in!
12. After the service sale. Our warranty service will serve your needs with one of the most comprehensive warranties in the business. It covers one year on virtually everything. For year two, it covers everything structural and mechanical. The structural warranty lasts for 10 years.
13. Your comments. We love to hear your compliments, and we take any suggestions seriously. Your feedback helps us make every Lexington home a success.
14. Welcome to the Lexington family. Enjoy your new home! Thank you for allowing us to work with and for you. We wish you happy times in your new home.