Writing the Offer for Your New Home
Once you are ready to order your new Monogram home, we will need to sit down and fill out some paperwork. It takes about an hour and involves signing a purchase agreement and picking out all your color selections for your new home. A couple of things you will need to bring with you to our appointment include:
Pre-Approval Letter Before you order your new home, you will want to meet with a lender to get your financing squared away. They will check your credit and go over some different options with you so you may choose the plan that works best for your situation. Don't forget, some of Monograms homes qualify for 100% financing. Once they have you approved they will give you a letter stating that you have been approved to purchase a home up to "X" amount of dollars.
Earnest Money Along with your pre-approval letter, you will need a *check for $1500. This is your earnest money which is required in every real estate transaction. It is what the buyer stands to lose if they sign a contract to purchase a home and later change their mind. If the buyer follows through with the transaction, and it closes as planned, the earnest money is then credited back to the buyer at closing. If a buyer uses Monograms preferred lender, less earnest money may be acceptable.
* Personal check or money order. Please, no cash. The lender is going to require a copy of the check to be submitted with your contract.