FAQs
TUMBLE CREEK
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Understanding your Priority Reservation
What is the purpose of a Priority Reservation Program?
Most traditional real estate offerings disclose all the relevant information about the property at the time of contract. The Priority Reservation Program is designed to offer real estate properties for sale and allow interested parties the ability to gather all the pertinent information and project details prior to making a purchase decision. In addition, the system rewards early interest and allows for a risk-free opportunity to purchase real estate at pre-development pricing as the homesites are being delivered to market. With a large number of serious inquiries and a limited amount of properties, this selection system is equitable for everyone.
What benefits do I receive from the Priority Reservation Program?
There are several benefits associated with the program. They include:
Priority Selection Position – The sooner you secure a Priority Reservation Agreement, the better your selection position. This is a first-come, first-served program.
Purchaser’s Information Guide – A Purchaser’s Information Guide is given to each reservation holder in advance of the Homesite Opening Event. This guide provides all the pertinent information purchasers want to know prior to making a decision.
Homesite Opening Purchase Incentives – Special purchase incentives are available to all reservation holders who buy a property during the Homesite Opening Event. These incentives are exclusive to the event and are not available after the Homesite Opening Event.
Escrow Process – Purchaser’s funds are held in escrow by an a title company to ensure a safe and timely closing process.
What are my obligations if I were to secure a Priority Reservation Agreement?
The Priority Reservation Program is completely risk-free and serves only to protect your real estate buying interests. The only obligation we ask is that you seriously consider this opportunity to purchase property at Tumble Creek. All deposits provided during the Priority Reservation Program are fully refundable.
How many Priority Reservation positions are available?
There are an unlimited number of Priority Reservation Agreements available and a limited number of properties being offered for the Homesite Opening Event; therefore, the sooner you secure your Reservation, the better selection position you have. Remember, not every Priority Reservation Agreement guarantees an opportunity to select property.
How do I secure a Priority Reservation Agreement?
Simply fill out a Priority Reservation Agreement and return it to the address identified on the bottom of the form. Please note that you must also include a fully-refundable check for $2,500 made out to the escrow agent listed on the certificate.
What can I expect after securing a Priority Reservation Agreement?
The Priority reservation program can essentially be broken down into four periods.
Reservation & Information Period – During this time, your Tumble Creek Representative will provide you with updates about the development of the property as they become available. This may include renderings of amenities or buildings, site plans, photographs or general information. In addition, you may tour the property offered for sale during this time. It is also a good time for reservation holders to start working with their personal banker or a Tumble Creek preferred lender on how they plan to pay for their purchase.
Purchaser’s Information Guide Period – Prior to the Homesite Opening Event, each reservation holder will be given a Purchaser’s Information Guide which will include documents pertinent to the release, and outline the requirements to purchase property. The guide may include documents such as: a Site Plan; Design Guidelines; Conditions, Covenants, & Restrictions; and a sample of the Purchase Agreement and Membership Agreement. The package will also include details on pricing, purchase incentives, the homesite selection process, additional deposit information, and various financing options. This is a great time to tour the property and preview and prioritize the homesites you would be interested in purchasing.
Letter of Intent – Approximately 10 days prior to the Homesite Opening Event, reservation holders who wish to purchase a homesite will be required to return all the documents and additional
deposits outlined in the Purchaser Information Guide. This date will be clearly shown in your Purchaser Information Guide.
Homesite Opening Event – This is culmination of the Priority Reservation Program and the day that all homesite selections are converted to purchase and sale agreements. During the day, attendees celebrate their new purchase by enjoying a wide variety of activities and culinary delights prepared by the Tumble Creek Hospitality Team.
When I decide to purchase, do I need to be at the Homesite Opening Event?
May I use this Reservation Agreement to purchase property at another area of Suncadia?
No. A Reservation Agreement is specific to the offering referenced in the agreement.
If I do not purchase, is my Priority Reservation deposit refundable?
Yes, it is 100% fully refundable at any time during the sales process. Your deposit will be held in escrow and if you decide not to purchase, your funds will be returned to you upon written request to Tumble Creek. Your Tumble Creek Representative can assist with these details.
If I do not wish to purchase, may I give my Priority Reservation Agreement to a friend?
Reassignment of a Priority Reservation Agreement is not assignable to a third party without written authorization from Tumble Creek.
509-649-6103
contact@tumblecreek.com