The Triangle’s Largest Local Homebuilder
The home-buying process can be complicated, and prospective purchasers often have many questions. We have compiled the questions we here most frequently in an effort to make your home-buying experience a positive one.
To find out how much home you can afford, you should contact a mortgage lender and ask for a ‘pre-qualification’. The mortgage lender will estimate how much you can afford based on debt, income and credit. There are no fees or paperwork involved at the pre-qualification step, it is simply an estimate of affordability, based on the information you provide.
Building your ForeverHome is easy, and below are some basic step-by-step guidelines:
There are not many fees involved – really - just an earnest money check that you pay at the time of your contract, and then your settlement fees which are paid at time of closing.
Earnest money amounts vary by community and are generally between $1,500 and $10,000, depending on the price of your home. Your earnest money deposit is then credited towards the purchase price of your home at closing.
Settlement fees (also known as ‘closing costs’) are fees associated with obtaining your new loan as well as miscellaneous fees such as home appraisal, taxes, etc. Your mortgage lender will provide you with an estimate of closing costs early in the buying process. Closing costs generally run around 3% of your purchase price.
Absolutely! ForeverHome has many options available for those with a home to sell – in fact - we will even consider buying your home so that you can purchase a ForeverHome!!! More than likely; however, we can write what is called a ‘contingent contract’ meaning that we will begin the process of building your ForeverHome, while you market your current property.
Yes – when you build a ForeverHome from scratch, you get to work with our design center and choose your interior selections! The only time you are unable to do this is when you purchase a home that has already been built, or is in the process of being built.
Closing on your new home is pretty easy – it’s just a lot of document signing!
You can expect to meet one of the ForeverHome Owners at your closing, who will answer any last minute questions that you may have, and provide you with the keys to your new ForeverHome!
You will then proceed to paperwork to signing with the closing attorney. The majority of paperwork will be your mortgage documents (your lender should have informed you of your final figures - closing costs, monthly payments, etc., and any money/documents that you need to bring to closing). And that’s it - you will walk out a ForeverHome-Owner!
While our team at ForeverHome is happy to help you in any way that we can, we recommend that you work with a Buyer’s Agent who can help you in all aspects of your home search. If you are not familiar with Real Estate Agents or Firms here in the Triangle, we are happy to recommend some that we have worked with over the years, and who we know will take good care of you.
The three main steps that buyers should know about are:
We encourage that you use a ForeverHome preferred lender for one simple reason – we have confidence that they will get the job done. The lenders we have chosen prove to have the most aggressive rates and loan programs, value customer satisfaction, and consistently deliver on-time closings. Although you are not required to do so, we feel so strongly that your buying process will be smoother with the use of our preferred lenders that we offer closing cost assistance when you chose a ForeverHome preferred lender.
Academy Mortgage – Sherrie Degnan
Phone: 919-827-8691
PrimeLending – Stephen Livesay
Phone: 919-854-4457
Email: slivesay@primelending.com
FM Lending – Don Davidson
Phone: 919-747-5947
Email: ddavidson@fmlending.com
BB&T – Emily Russell
Phone: 919-716-9645
Email: erussell@bbandt.com
There are three major construction meetings you should prepare for: a pre-construction meeting, a pre-sheetrock meeting, and a pre-closing meeting. These meetings are generally scheduled Mon-Fri at 10am or 2pm. We ask that you prepare your schedule to fit these meetings, as they are important to keep your home’s construction on track.
Please know that our entire ForeverHome team is available, at any given time, throughout the construction and sale of your ForeverHome. Primarily though, you will work closely with our onsite sales representative, as well as your dedicated Project Manager (PM).
ForeverHome has strict building codes to adhere to, and undergoes numerous inspections during the construction of our new homes. However, you are welcomed to hire a licensed, certified and bonded private inspector to conduct a home inspection. If you choose to do so, please note that this is at the homebuyer’s expense.
Energy Star is a government backed program that defines energy efficiency through vigorous specifications, third-party verifications, and the use of superior products. Energy Star building practices produce top quality, environmentally responsible homes that save you money! Please note that there is a big difference between buying an Energy Star Certified home (which we build at ForeverHome) verses homes “built to Energy Star standards or practices” which other builders may advertise.
We have a customer care department that will take care of you, should any warranty items come up. Once you close on your ForeverHome, you can visit our website, www.ForeverHomeNC.com , and click on the HomeOwner Care link to login to your customer care account where you can log warranty service requests.
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