VALENCIA COVE – MODEL RELEASE GUIDELINES
MARCH 25, 2016
Thank you so much for your interest in Valencia Cove. If you are interested in general sales and product information about Valencia Cove, the sales office will open to the general public at 9:30 AM. However, if you want to take advantage of this exciting opportunity and be one of the first to reserve a Model home in Valencia Cove, the sales process will begin at 9:00 AM using the policies and procedures below.
In order to make the selection and reservation process run as smoothly as possible, the following are some of the policies and procedures that will be in place for the release. There are 12 models for sale, so please read all of the following to make sure you are familiar with how the selection and reservation process will proceed on Friday morning.
1. Priority Order Determined by Random Drawing. The order for prospects to reserve a model home in Valencia Cove will be established by a random drawing that will take place beginning at 9:30 AM. The sales office will open at 9:00 AM, at which time you will register to participate in the drawing. Since the selection order will be determined by random drawing, there is no reason to line-up or camp out in advance of the 9:00 AM opening.
2. Registration for the Random Drawing. Beginning at 9:00 AM, potential buyers will be allowed into the sales complex to register for the priority order drawing. In order to register and participate in the drawing, you will need to have with you a reservation deposit check in the amount of Five Thousand Dollars ($5,000.00) made payable to DELRAY BEACH ASSOCIATES I, LLC. The check must be from an account in the actual name of the buyer reserving a model (NO THIRD-PARTY CHECKS OR CREDIT CARDS WILL BE ACCEPTED - including trust checks, company checks, in trust for or other non-personal checks). The reservation deposit will be fully refundable if you do not purchase the home. During registration, you will be given the following registration documents to complete: (a) a Buyer Registration Form, (b) a Reservation Deposit Form, (c) a Disclosure Summary form, and (d) a Receipt for Documents.
3. Random Drawing and Model Selection Process. At 9:30 AM, the registration process will close and the random drawing process will begin. A random drawing of names will take place from all potential buyers who properly and timely registered as described above. The random drawing will establish the priority order for reserving a model home in Valencia Cove. Once your name is called, you will then bring your registration documents and your reservation deposit with you to meet with a sales representative and select the model home.
4. Unable to Personally Attend; One Drawing Spot Per Immediate Family. If for any reason you are unable to personally attend the Model release on Friday, you may send a representative in your place, but your representative must be in possession of the registration documents described above fully and properly completed and signed by the actual buyer, together with the reservation deposit check from the actual buyer, for the representative to be able to deliver to us on your behalf. If you are represented by a broker, your broker may act as your model selection representative, however, a broker may only act as a model home selection representative for one customer only at the release. Drawing spots are not transferrable so whatever number is given out to a buyer, the persons/couple with that reservation number are the ones that will have to go to reservation and contract. Only one drawing spot per immediate family will be given out (this does not include adult children buying for themselves; such adult children may receive their own numbers but they may not be used by or transferred to other family members). If it is determined that any person or immediate family received more than one number for the drawing, their reservation will be cancelled.
5. Reservations Will be Held for Three Days. At the time of your reservation you will be given a contract appointment for a date and time when you will need to return and execute an actual Purchase Contract for the purchase of the model home. A deposit of five percent (5%) of the total purchase price, less the $5,000 reservation deposit, will be required to be delivered at the time of execution of the Purchase Contract. You will receive a copy of the Purchase Contract and homeowners association documents at the time of your reservation, so you will have an opportunity to review and become familiar with them prior to your execution of the Purchase Contract including, without limitation, the Model Home Addendum.
6. Brokers. If you are being represented by a broker, your broker must be present with you at the time of your selection and must complete a Broker Registration Form. Your broker will also be required to enter into a Broker Participation Agreement with us at the time of execution of your Purchase Contract. Brokers should be aware of certain Broker Participation Marketing Policies that will be in effect for Valencia Cove and a broker’s failure to comply with them will result in forfeiture of eligibility for a brokerage commission. Brokers interested in purchasing a Model home for himself/herself, may do so, but may only purchase one Model Home and must otherwise abide by all of the above procedures to obtain a priority selection number like any other customer.
7. Contract Transfers from Other Communities. If you have a pending reservation or contract for the purchase of a home in another community, you may participate in the selection process for Valencia Cove, however (a) your reservation for the Valencia Cove home will be cancelled and you will not be permitted to transfer your outstanding contract if construction on your home has commenced (i.e., any physical improvements have been started on the lot), and (b) all transfer fees and charges in your existing purchase contract will apply and you will be required to pay such fees and charges as a condition of the contract transfer.
If you have any questions not answered here, please feel free to contact the sales office at (561) 738-5100. We look forward to seeing you on Friday, March 25, 2016.