How to purchase our home?
At Solara our home purchase process is somewhat different from other builders. As part of our cost optimization process we do not keep homes in inventory. Instead we have lots and plans permitted and ready to start construction as soon as our buyer has obtained funding.
This allows our buyers to customize many components of their home including flooring, interior / exterior colors, kitchen and bathroom tiles, counter tops, kitchen cabinets and shingle or metal roofing.
Furthermore Solara’s “Plug in Module” system also allows our buyers to select our base home and then add options such as Solara’s in-law suite; detached guest cottage; detached home office; detached gym; pool and spa; splash pool; oasis master bathroom; Solara’s outdoor entertainment option and our “full home net metered solar power” system.
Financing Your Home
Solara has engaged the services of New American Funding to assist our home buyers with all aspects of financing a home and obtaining a home mortgage. Please contact Cheryl Stokes at New American Funding via the link below. She will walk you through the entire process, step by step and assist you with any credit issues. Cheryl will also provide you with a mortgage “pre-approval letter” that is required to accompany any purchase offer for a Solara home.
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Below is our step by step home buyer process and approximately how long each step will take:
Day 1- Visit our model - we have onsite models that are staffed with our Ambassadors who will give you a full tour of each model and discuss with you in detail all options and upgrades.
Day 2 and 3 - Get pre-qualified - before you draft a Purchase Offer meet with one of our funding officers to obtain a loan prequalification letter that must accompany your Purchase Offer. Our approved lender will expedite this process. If you are buying the home with cash you will need to submit proof of funds with your Purchase Offer.
Day 2 to 7 - Select and customize your exact home and options - if you wish to proceed with the purchase of one of our homes set up a meeting with our Sales Director to select the home you desire along with any customized options and any of our added “Plug in Modules”.
Day 2 to 7 - Select a lot - concurrently with making the selections for your home you will need work with our Sales Director to choose a specific lot for your home.
Day 8 to 12 - Draft the purchase agreement - with the assistance of your realtor and our Sales Director draft a Purchase Offer and our Director of Sales will present this along with your earnest money deposit to Solar for acceptance.
Day 8 to 12 - Formal Introduction and Review of Babcock Ranch - complete full tour of Babcock Ranch, review and sign off on all community related documents including ISD costs and requirements, legal disclosure documents and association fees.
Day 12 to 20 - Obtain Construction to Perm Loans / Financing - all Solara homes are financed via “buyer construction to perm loans” or via cash from the buyer. Consult with our Director of Sales so he can explain and assist you with this simple process.
Day 20 to 45 - Finalize Financing - work with our funding sources to expedite and finalize your home loan or financing.
Day 20 to 45 - Final Purchase and Construction Agreement - typically financing will take 30 to 45 days to approve. During that time, you will work with our design team to finalize all details and options of your home. As soon as you sign off on the final plans and obtain loan approval you will sign a final Purchase and Construction Agreement.
Day 45 to 160 – Construction of Home - It will take approximately 120 days to complete the construction of your home provided there are no delays due to weather or unforeseen circumstances. You will be allowed three on site visits to inspect the construction progress of your home. These must be done via prior appointment with our Director of Sales.
Day 160 - Final Inspection and Punch List - our Director of Sales will notify you upon completion of your home and schedule a final walk through and inspection. At this time you will go over the home and make a final punch list of any items that need attention or revision.
Day 165 - Move In - As soon as the punch list items have been completed you are ready to move in to your new home. Solar homes have a full one-year warranty and the standard Florida mandated ten year material and construction defects warranty.