Buying a Home the Arete Way
Buying a home is a big decision—one that might seem daunting. While this may be your first time, relax. We've been helping folks find and purchase their dream home for more than thirty years now. Here's how it works.
1. Reserve a Home
Chose the floor plan which bests suits your needs, and then work with your sales representative to learn where that home is being built within your community. Work with your sales representative to prepare a cost estimate of the home type, homesite, and features you want. Fill out a few preliminary forms for your loan application, and make a "good faith" deposit (we call this a “Reservation”) to secure your chosen homesite while you make further selections and get approved for financing.
2. Personalize Your Home
One big advantage of buying a newly built home is the opportunity to really make it your own. Spend some time to carefully select all of the custom features and color choices that help personalize your home. Often the sales representative will assist you to make appointments with knowledgeable professionals who will guide you in the selection of cabinetry, flooring and other finishes.
3. Complete Pre-Qualification Process
Knowing the approximate cost of your home with selected options and upgrades allows your lender to “pre-qualify” you for the purchase. If you have a home to sell we will discuss timing and strategies to accomplish this with your broker. You must be pre-approved with an Arete Homes preferred lender. We remind our buyers that while you may purchase one or two homes in your life, as a home building company we assist hundreds of people obtain mortgage loans, and therefore request and require superior customer service, terms, and rates from our lenders.
4. Complete a Purchase Agreement
Meet with your sales representative to authorize your purchase agreement and make your initial deposit. (Note: Your reservation deposit will be applied to your initial deposit at this time.)
5. Apply for a Mortgage Loan
Within five (5) days of signing your purchase agreement, contact a mortgage counselor and complete a loan application. For your convenience, Arete Homes has preferred lenders who have a proven track record and offer our buyers superior service and customized loan products.
6. Complete Your Down Payment
Once the purchase agreement is complete, your sales representative will tell you when the remainder of your home-purchase deposit is due. This deposit, representing the balance of your down payment, is your final payment until closing. This is made after your final options/upgrades are selected.
7. Construction Process
Depending upon what stage the home of your choice is in the building process, you may or may not have the opportunity to walk through the home prior to completion. Walk-throughs must be scheduled with your sales representative and are not a condition of closing. Prior to final closing, you will be given a New Home Orientation to explain the operation and maintenance of your home.
8. New Home Orientation
At this point your home is complete and you'll have a new-home demonstration meeting. Only the primary purchasers can attend this New Home Orientation. We encourage families to arrange care for children and they distract the orientation process. This is a very important meeting and we encourage your prompt arrival.
9. Go to Closing and Move In
A date and time for closing is set and all final payments are due at this settlement. Once all the papers are signed, you will receive the keys to your new home.
10. Our Pledge to You- Customer Assurance After You Move In
Our customer service program is guided by the principle of the Golden Rule. We strive to exceed your expectation in every aspect of your home and the home buying process. If a repair is necessitated, we request that you submit your request in writing through our website portal for homeowners. We want to get your pictures and details of what needs to be addressed. We will respond within twenty four hours. All of Arete Homes are covered by a ten year limited warranty through Home Buyers Warranty, an industry leader. You will be provided details on this at closing.