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St. Jude Dream Home Builder
Jenks Home Builder | What Comes after the Initial Tour
Speaker 1: (00:00)
Hello and welcome to the Shaw Holmes podcast. The one and only Jenks home builder show where I break down just how easy it is to build your dream home with Shaw homes. I’m your host, Colton cruise, the timber Creek community manager in Jenks Oklahoma. All right, now on this podcast today, we’re going to be going over step five on your path to your new Shaw home. And this path is what makes us the best Jenks home builder in Oklahoma. Now, now step five is the purchase agreement. Now this is the part that everybody gets really nervous about. They’re coming down to the final signatures to get their home ready to go to the design studio. Um, this is not something to be afraid of because we will watch a 45 minute very informative video. Um, this is going to answer all of your questions about what is in this purchase agreement, where we go from this purchase agreement.
Speaker 1: (01:02)
We even go over all the steps that we’ve taken that led to the purchase agreement. So in this 45 minutes, you’re going to be hearing Aaron who is our sales director at Shaw homes. And Erin is one of the reasons why we are the best Jenks home builder in Oklahoma. And he is going to be hopefully answering all of your questions about what is in this document and what it’s all about. Why are we having you do this purchase agreement, um, before we start building and everything like that. So something to be aware of is that whenever you are signing your purchase agreement for that meeting, there is a, an additional deposit due. Now, this is all determining on how much your final price is on your home. So if it is above $350,000, if the final price of your home is above 350,000, then it is automatically 5%, 5% is required that day of the purchase agreement.
Speaker 1: (02:12)
Uh, and if you’re not able to fulfill that 5%, we can work with basically anybody in any situation, um, to make sure that we are getting you covered, um, and whether that’s payments or whatever the case may be, we can get you covered for that. Um, if you are below 350,000 down to $300,000 for the final price of your home, then it drops to $15,000. This is called earnest money. And so that’s the earnest money that will be required as a deposit at your purchase agreement. Now, keep in mind that this deposit does not go to us it to towards the down payment of your home. So if you are looking to do 20% down for your, for the closing of your home, that 5% or 15,000 or 10,000 or 5,000 automatically goes towards your down payment at closing. So it’s not like it’s going nowhere.
Speaker 1: (03:27)
It’s not like it’s going into our pockets and we’re keeping it. It does go towards your down payment of your home. Now I mentioned 10,000 and 5,000 for earnest money as well. For 10,000, you’re looking, you’re going to be spending, um, between 250,000 and 300,000 is when you will be required to pay 10,000 for that earnest money. If it’s less than 250,000, then all that is required for earnest money is $5,000. And again, that all goes towards your down payment at closing, once your home is completely built. Now, something that is important that you need to remember is that structural options at this point are final. So any, anything having to do with the outside, the exterior of the home, changing your garage, um, bumping walls out, things that you might want to do, those are final at that point. Another thing that is a FA that is final is the home site selection.
Speaker 1: (04:40)
Of course we have tons of blueprints, but as far as, and floor plans, as far as home sites, we are very limited as, as to, you know, the particular home site that you might want or need. We cannot replicate home sites. So it’s important to get that home site selection in so that nobody takes it. And these home sites that we have at Shaw homes makes us the best Jenks home builder that there is now, another thing to remember though, is that colors and finishes are not final. That means that you are not having to worry about your colors, the finish on your floor, the finish on your countertops, the, you know, the types of cabinets that you have stain or paint. You don’t have to worry about any of those right now, this stuff is not final. This will be taken care of in step six, which is the design studio.
Speaker 1: (05:34)
So something that we’re going to be talking about at this purchase agreement is, is, are you approved for a mortgage that is due at that point? Um, so you have to have gone through a lender to, to show and prove that you have been approved for a mortgage. Of course, if you use one of our preferred lenders, then you don’t need a mortgage approval. You just need a pre-approval. We also need to have the answers of, is this build going to be contingent, or will it be a delay of build? Now it contingent means that your home needs to sell before you can come up with the down payment that will be due once your home is built. And so that might require you to, um, put your home on the market. If it’s a contingency, we require your home to be on the market.
Speaker 1: (06:32)
And that can last for only, only four months, but most homes can be sold within that time. So if you are needing to sell your home, you can go through one of our in-house realtors and they will help you get your home on the market and get it sold. If you’re needing to do a delay of build, which could be really for anything that you need to wait for, maybe you don’t want to be moving into your home in the summer, and you want to wait until the fall to be moving into your home. So we’ll do a delay of build. There could be multiple options though, uh, for a delay of build, whether it’s maybe, um, your trial is graduating from high school and your family needs to wait to start the build until, and put your home on the market until after your child has graduated high school.
Speaker 1: (07:30)
There could be a number of reasons why you would want to do a delay, a build, but the differences is that a contingency will pause the process altogether, right there, nothing goes forward from that point. Um, the earnest money is still due or some type of plan to fulfill the earnest money is do still, but we pause everything until your home is sold. Now for a delay, a build, we don’t pause things. We make sure that you have your earnest money or some type of plan to fulfill your earnest money. And then we will continue forward with the design studio, with a contingency. You do not move forward to the design studio with a delay of build. You do move forward to the design studio. At this point, I will make sure that your home site has been mowed and it’s cleared, and we’ll go out and we’ll put the sold sign on the property to kind of be able to brag that you guys are taking that step. And you are about to build your home with Shaw homes. And as always, I would love it. If you would give me a call so I can help you through this path, and I can help you be a part of
Speaker 2: (08:55)
This great thing that we’re doing at Shaw homes, which is actually building dream homes. And I would love to build your dream home. You can give me a call. My number is 9 1 8 2 3 0 2 3 4 0. And we would love it. If you left us an objective Google review at Jenks home builder, all you gotta do is Google Jenks home builder. And I will pop up for Shaw homes and timber Creek. And you can leave me a Google review about how I’m doing, and I would greatly greatly appreciate that because that would help me within my company. So I just want to be the best for you. I want to provide the best service that we could offer, and that is what makes us the best Jenks home builder in Oklahoma. Thank you.