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I think I would like to buy a new home. What is the first thing I should do? |
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Go to a Mortgage Lender and get Pre-Qualified for a Mortgage Loan. This typically cost about $50
and will give the answers you need, such as: what are my payments going to be and how
much home can I afford. Also, it tells the people that sell new homes (builders and realtors)
that you're serious about buying.
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Could you suggest a mortgage lender? |
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Click on our 'mortgage page' in the web site for more information.
This page is currently under construction.
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How much cash will it take to buy a new home? |
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Typically it takes about 3% of the sale price of the home. For example if you buy a $100,000 home
it will take about $3,000. This depends on several issues, but it's a good rule of thumb in today's
market. There are no low down payment loans available. This is one of many reasons why you
should go to a good mortgage lender as soon as possible.
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How long does it take to build a new home? |
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Once you've signed the contract, most homes under 2000 square feet take about 5-6 months
depending on the weather and the type of home style you're building. Most builders have spec
homes (homes they are building but are not sold) in various stages of completion that can be
finished sooner.
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Can we buy a new home before we sell our existing home? |
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Yes, generally we solve this problem with a contingency clause in your new home sales contract.
This allows you time to sell your existing home before you close on your new home and does not
bind you to purchase your new home if you don't sell your existing home, within a given time period.
As with any contractual agreement, be sure to read the contract thoroughly before signing and if
your still not sure, contact an attorney.
Remember: It takes several months to build a new home and sell an existing home. Your builder
should work closely with you on the timing when writing the contract. Also, not all builders will
accept contingencies on their homes. It depends on the individual circumstances.
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Is there any warranty or guarantee of workmanship? |
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Yes, we offer a 1-year written warranty. Please click on our 'warranty page' for more
details. After you move in you can make your warranty request online!
Joseph Lane Homes only warranties structural and mechanical items.
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What kind of decision or selection can I make myself? |
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It depends on the state of completion of the home at the time you sign your contract.
Please click on our change selection web page for a selection/timing list.
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What if I want to make changes in the way the house is built or in a selection I've already made. |
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You have 1 week after you sign your sales contract to make your selections and determine any
changes. After 1 week there will be a $200 minimum-processing fee for any changes made after
that date and this is in addition to the cost of the changes.
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