Top Five FAQs of Presale Home Buyers
Thank you for your interest in learning more about purchasing a MN Custom Home prior to completion. Whether you’ve found the perfect floor plan and location or are excited to put your custom touch on the final details of the home, we’re working hard to make the purchase and planning as easy as possible.
Frequently Asked Questions (FAQs)
1. Are the “listed” presale homes (on the NWMLS) the only homes available for sale? What if I’m interested in a home that isn’t listed?
If you have interest in a property that is not listed, but on our “Under Construction” page, let us know. We’ve recreated our Contact Us submission to either let us know about locations or price points that interest you or a specific project that you have your eye on.
2. What is the purchase process for buying a home that is still under construction?
CONTACT US: Start by reaching out through our Contact Us submission form. We will be in touch with you – or your broker, if you’re working with one.
QUICK CALL: We will be in touch within 2-business days (most often 1 or fewer) to share information and learn more about what you’re looking for.
NARROW IT TO 1-3: Based on your interests, price range and timing, we’ll focus on the best 1-3 homes that fit your criteria. Driving by the addresses of homes that interest you can help you get to know what streets and neighborhoods are an ideal fit.
TOUR of MN: As we get closer to mutual agreement, we’ll schedule a tour of at or near completed MN homes that have a similar features and design elements.
MAKE AN OFFER: Submit an offer and let’s see where it goes. Once we’ve come to mutual agreement, then…
MUTUAL FEASIBILITY: We’ll schedule a meeting with you and our lead Project Managers to walk through an in-depth look at our process, including change-orders and customizable selections. If both parties are comfortable, we move forward with our plans, timelines and build you the home of your dreams.
3. What are things I will not be able to change for a presale?
Floor plans cannot be changed as they are already permitted, and walls cannot be adjusted.
Fixtures, lighting paint and other items are on the list as long as they have not been ordered or installed at the time of the Mutual Feasibility meeting (those items will be covered in that meeting).
4. How many planning meetings Do we get with the Project Manager?
Initial PM meeting within two weeks of mutual agreement during the mutual feasibility period.
After the feasibility meeting, there are potentially four meetings as pre-closing PM interactions:
Customization Introduction to designer
Review of Mechanical/Electrical/Plumbing (MEP) layout
Landscape and hardscape review
New Home Orientation
5. If I do not want to move forward with the purchase following the Mutual Feasibility meeting with the project manager, do I get my earnest money back?
Yes – you get 100% of your earnest money back if we don’t mutually decide to move forward at the end of the feasibility period.
How it works, is your earnest money is held in escrow during the mutual feasibility period. Then it is either returned to you (see above) or held and goes towards paying the balance at closing. You are not required to come up with the remaining funds to purchase your home until closing.
This was our first time purchasing new construction and they took the worry and stress out of the design and selections process. We got to pick the finishes that that were most important to us. Our dream home was finished on time and without any surprises both during construction, at closing, and after completion. We love our MN Custom Home!
Dave K., Bellevue