After browsing through our site, you might be wondering what a turnkey home is, and why you would want it!
It is essentially what it sounds like, a home that is ready for you with the turn of a key. At Chase, we carry the cost of construction throughout the build process, and you don't have to pay until that key is turned. Nice, right? This means that you can enjoy all of the fun parts of building a house (picking out countertops, cabinets, paint color etc.) without the stress of paying for something that you can't even use yet.
In addition, turnkey construction also means that the cost of your home is locked at the time of signing. This means that if the build is overbudget, the company pays and not you.
Here's a look at how the Turnkey Construction process works:
Pre-approval from the lender of your choice.If you will be financing your build, you will need to meet with a banker or mortgage broker of your choice to determine budget.
Initial Meetings & Pricing
We meet to dicuss your needs and wants in a new home. This includes things such as amenities, features and finishes, and then a price is determined.
Once we determine the price, everything goes off to your bank for appeaisal. Everything is appraised up front so we know we have value.
Your down payment is determined by your financing. For example, if you're doing a conventional 10% down load on a $300,000 build, your down payment will be $30,000.
Once we are in the final phase of construction, the town or city will come out and do a ceritficate of Occupancy inspection and your lender will also complete an inspection.
Once all inspections are completed, we are ready to close. The closing happens just as if you purchased an existing home. At closing, your lender pays us off with what is called an end loand and you assume your mortgage to your lender.
And voila! Just like that you're a homeowner. So what's stopping you? Call us today to set up a meeting and plan your dream home.