Contract Addendums

Question 1

Business Relationship Disclosure

Answer 1

We’re owned by the same company as Silverton Mortgage, which is why they are our preferred lender.

Question 2

Closing Cost Addendum

Answer 2

This addendum highlights what type of mortgage loan you are using. If you choose Silverton Mortgage, we will be paying $2,500 toward your closing cost. If you choose a different lender, we won’t pay anything toward your closing cost

Question 3

House To Sell Contingency (Optional)

Answer 3

You have 60 days to sell your home before we can move forward on the construction of your home. If you haven’t sold your home by then, we will need to revisit this issue. However if you’re having issues with someone buying your home, there are always options like OpenDoor or other home buying companies.

Question 4

Contract Worksheet

Answer 4

This just shows all of the contact information for you and your lender. Please make sure it is all correct. Your desire month is ________.

Question 5

Customer Assurance Pledge

Answer 5

Read over all bullets 1-4. The rest will be covered by the superintendent.

Question 6

Independent Home Inspection

Answer 6

You are more than welcome to hire an inspector just like you would on an existing home purchase. If you want to hire an inspector this is what we will need from the inspector. You have to notify us before you complete an inspection and our superintendent must be present. Please schedule this through him. And just as a heads up - we will only fix what is code.

Question 7

Non-Recommended Lender Addendum (Optional)

Answer 7

This document will be sent by me to your lender, explaining what we will need from them in order to move forward.

Question 8

Selection Worksheet

Answer 8

Look over this, these are all the options we added to your house.

Question 9

Painted Cabinet Disclaimer

Answer 9

(Go over last two paragraphs in this addendum)
Discoloration: All paints especially lighter colors are susceptible to discoloration due to airborne particles from cooking, grilling, tobacco smoke, fireplaces, or candles.
There may be a perceived color variation with light/white painted cabinets since lighting reflection and/or color absorption has a noticeable impact on angular trim pieces, such as crown molding. You can get a touch up paint kit from Home Depot pretty cheap if you have any of this during the time you live in your home.

Question 10

Radon Notice & Disclaimer

Answer 10

We are not radon experts. We do not test or mitigate for radon. Radon is a gas that is found in new & pre-existing homes all over the US, but is mainly only prevalent in homes that has a basement.

Question 11

Tree Agreement

Answer 11

We may or may not need to remove trees in order to construct your residence.

Question 12

Waiver of Implied Warranties

Answer 12

If it is not in writing it is not true. This goes over the specific warranties already spoken on.

Question 13

Warranty Exclusion Form

Answer 13

These are the things that our warranty does not cover. Read each bullet point aloud to the buyer.

Question 14

Option Financing Addendum

Answer 14

Other than structural option changes that increase square footage, the buyer is limited to options to select for their home up to 18% of the base price of their floorplan. If buyer goes over this, buyer must agree to pay amount over in cash.

Question 15

FHA/VA Addendum (Optional)

Answer 15

This addendum goes over if an FHA or VA addendum is being used by the buyer. If you use an FHA or VA addendum it is protected from an appraisal gap because it is a government backed loan.

Question 16

Marketing Program

Answer 16

Arbor offers discounts for the following
Hometown Hero - police, firefighter, military
Second Time Buyer
Sub Contractor/Vendors
Friends of Arbor
3% Family Program