The Chestnut Homes Buying Process

You have explored the many Chestnut Homes, Inc. communities, reviewed the large number of floor plans and elevations, and investigated the numerous options. You have begun "The Buying Process." After you have chosen the community, the specific location or lot, the home model and exterior style, and the specific upgrades or options, you will complete the Purchase Agreement and provide an earnest money deposit. This deposit is a percentage of the base price and the options that you have selected at the time of the Purchase Agreement.

The excitement of purchasing your new Chestnut Home will endure long after your decision to purchase. Our professionally trained staff guides you through the process of determining the standard and optional features that you have selected to be incorporated into your residence. We assist you in making timely decisions so that the construction process can progress in a smooth and seamless fashion. We address the fine details so that you need not worry about things that could be missed. We have an outstanding reputation for providing excellent customer service, so you can relax during the purchasing process.

The steps of the Buying Process along the path to your new home include the following:
1. Financing Your New Home
2. The Material and Color Selection Process
3. The Update Process
4. The Closing Process
5. The Warranty Service

Financing Your New Home

Chestnut Homes, Inc. has established long-standing business relationships with "preferred" lenders who are experienced in new construction lending. By utilizing one of these lenders, you will receive many benefits that include:

Lenders who are experienced with new construction issues and who can resolve issues quickly.
Fast processing and issuance of a mortgage commitment.
Extended rate lock and buy-down programs available to Chestnut Homes clients
Faster construction starts and faster closings.

Within seven (7) days of the signing of your Purchase Agreement, you will apply for financing. Our preferred lenders will process your application and attempt to issue a commitment within thirty (30) days.

The Material and Color Selection Process

Due to the extensive selections Chestnut Homes, Inc. offers its clients, our trained staff meets with you to guide and to coordinate your choices. The following time table is typical of the type of selections that must be made:

Two weeks following the signing of the Purchase Agreement:

Basement changes such as a lookout basement, a walkout basement, a deep dig basement or a combination when offered.
Rough-in plumbing in the basement for future bathrooms.
Front elevation changes when offered.
Optional floor plans and decorative details as may be offered.
Mechanical and appliance changes as offered.

Four weeks following the signing of the Purchase Agreement:

Flooring selections including Tile, Carpet, and Hardwood.
Tub deck and shower surround material.
Kitchen and Bath cabinets, Kitchen and Bath countertop material and color.
Faucet selections, door hardware, interior door style and trim style.
Light fixtures.

The Update Process

During the construction process, your sales representative will contact you on at least a bi-monthly basis to update you on the progress of construction on your residence. The sales staff is available on a scheduled basis to meet with you at your home to review the progress and to field any questions regarding your future home. We appreciate your trust in Chestnut Homes to construct your new home. The staff wants you to understand the benefits of having a Chestnut Home during the entire construction process.

The Closing Process

When you signed your Purchase Agreement, your sales representative projected the month that your home would be ready for delivery. Approximately thirty (30) days prior to the completion of your home, our Closing Coordinator will contact you regarding the following items:

The Title Policy information
Available dates and times for closing
The location and address of the closing office
The materials that you are required to provide for closing
The final inspection and walk-through date
The release procedure

Prior to the closing, a walk-through will be scheduled with our on-site construction personnel. During this meeting, you will be instructed as to how the systems and products that you have selected should be properly used and maintained. Any items requiring minor adjustment will be noted and promptly corrected, weather permitting. Also, at this time, we will discuss some of the warranty provisions that were provided to you when you executed the Purchase Agreement. The ten year limited warranty provides you and your family peace of mind while you own your Chestnut Home.

The Warranty Service

The ten year limited warranty, issued by Professional Warranty Service Corporation, is a very important part of your purchase of a Chestnut Home. As part of our continued service to all of our clients, a walk-through is offered with our Service Coordinator at six (6) months and eleven (11) months after the closing. During each walk-through, any items that fall outside the specifications provided in the Limited Warranty are noted so that the service can be scheduled to adjust or remedy the items that were noted or identified. We will attempt to have all walk-through items completed within 30 days of the inspection.