We’re Here to Help

Building a new home is an exciting and rewarding experience. From lot choice to selecting the final finishing touches, your new home is an expression of your own unique personal taste and style.

This guide is a starting point with the goal of helping you take your first steps toward home ownership at Tudor Croft. Remember, each deal is unique and we are here to assist you throughout the entire process. Contact a Real Estate Agent with Summit Ave Properties regarding any questions you might have. We’re here to help!

Process for Borrowing for Lot and Construction of Home

  1. After being pre-approved, select lot and home plan. Confirm plan will fit on lot.
  2. Your Real Estate Agent will assist you with a Vacant Lot Offer to Purchase.
  3. You will meet with the Builder next to go over questions on: needed selections, basic upgrades, and plan modifications. The fee for plan modifications is due before they are done by the architect.
  4. The Builder will fill out Builders Contract and create a Scope of Work.
  5. Take your signed Builders Contract, Scope of Work, and Vacant Lot Offer to Purchase to your lender within 5 business days to apply for construction loan. Keep in mind that construction loans take between 45-60 days to close from the application date.
  6. Select a closing attorney. Send the attorney the Vacant lot Offer to Purchase and all requested paper work.
  7. During the Due Diligence Period of your contract, plan modifications are made if needed. The Plan Modification fee is due before the architect will begin. You may use fee as Due Diligence fee. Your Real Estate agent will assist with this.
  8. A list of selections and when they are needed will be provided to you by the builder. When selections are needed the builder will set a meeting to finalize the choices.
  9. Your Real Estate Agent will assist in scheduling your closing with your selected attorney.
  10. Your Real Estate Agent will receive his/her commission on the lot only at closing.
  11. After closing, the construction of your home begins once permits are obtained. Homes are built in order of closing. A selection list will let you know when selections are needed.
  12. Draws will be set up between your lender and Sure Point Builders during construction. These terms and how they apply to you is according to your loan.
  13. Once your home is complete, your agent will receive his/her commission on the build from Summit Ave LLC. This assures that your agent will assist you throughout your build. All agent fees are paid by the seller.

Process for Cash Purchase of Lot and Borrowing for Construction of Home

  1. Select your lot and home plan. Confirm plan will fit on lot selected.
  2. Your Real Estate Agent will assist you with a Vacant Lot Offer to Purchase.
  3. Select a closing attorney and send a signed Offer to Purchase to your selected attorney.
  4. Your attorney will schedule a closing for the lot only. Your Real Estate agent will receive his/her commission on the lot only at this time.
  5. Now that you own your lot, pulling the needed permits comes next. Homes are built in order of closing of home site. (Per Tudor Croft Restrictions: You have one year to pull permits to build your home.)
  6. You will meet with the Builder next to go over questions on: needed selections, basic upgrades, and plan modifications. The fee for plan modifications is due before they are done by the architect.
  7. The Builder will fill out the Builders Contract and create The Scope of Work.
  8. Take signed copy of Builder Contract and Scope of Work to your lender and apply for construction loan. Keep in mind, closing a construction loan takes from 45-60 days from when you apply.
  9. After closing, the construction of your home begins once permits are obtained. Homes are built in order of closing.
  10. A list of selections and when they are needed will be provided to you by the builder. When selections are needed the builder will set a meeting to finalize the choices.
  11. Your lender will set up draws with the builder and your terms concerning that part is according to your lender.
  12. Once your home is complete, your agent will receive his/her commission on the build from Summit Ave LLC. This assures that your agent will assist you throughout your build. All agent fees are paid by the seller.

Process for Cash Purchase of Lot and Construction of Home

  1. Select Home Plan and Lot. Confirm plan will fit on lot.
  2. Your Real Estate Agent will assist you with a Vacant Lot Offer to Purchase Contract.
  3. Select a closing attorney and send a signed Offer to Purchase to your selected attorney.
  4. Your attorney will schedule a closing for the lot only. Your Real Estate Agent will receive his/her commission on the lot only at this time.
  5. Now that you own your lot, pulling the needed permits comes next. Homes are built in order of closing. (Per Tudor Croft Restrictions: You have one year to pull permits to build your home.)
  6. Once you are ready to build, you will meet with the builder to discuss: questions, basic upgrades, and plan modifications. The fee for plan modifications is due before they are done by the architect.
  7. The Builder will fill out the Builders Contract and create The Scope of Work.
  8. Sure Point Builders has a draw schedule for the build and will set that up with you.
  9. A list of selections and when they are needed will be provided to you by the builder. When selections are needed the builder will set a meeting to finalize the choices.
  10. Once your home is complete, your agent will receive his/her commission on the build from Summit Ave LLC. This assures that your agent will assist you throughout your build. All agent fees are paid by the seller.