VIP GRAND OPENING GUIDELINES
MARCH 13, 2020
Call 772-226-9000 for Lot Premium Pricing
Thank you so much for your interest in Valencia Grove at Riverland! These are the guidelines that will be used for your participation in the Valencia Grove VIP Lot Selection Drawing being held on Friday, March 13, 2020, at 9:00 AM at the Valencia Cay Sales office located at 17035 SW Matisse Lane, Port St. Lucie, FL 34987. If you want to take advantage of this exciting pre-construction opportunity and be one of the first to reserve a new home in Valencia Grove, the policies and procedures below will apply to the VIP Lot Selection Drawing. If you are interested in general sales and product information about Valencia Grove and you are not participating in the VIP Lot Selection Drawing, the sales office will open to the general public at 11:00 AM.
Please read all of the following to make sure you are familiar with how the lot selection and reservation process will proceed on Friday morning.
1. Priority Order Determined by Random Lot Selection Drawing. The order for buyers to reserve a lot and home will be established by a random lot selection drawing that will take place beginning at 9:00 AM on Friday, March 13, 2020. However, sign-in will begin at 8:30 AM, at which time you will sign-in to participate in the drawing. Since the lot selection order will be determined by random drawing, there is no reason to line-up or camp out in advance of the 8:30 AM opening and no one will be allowed to do so.
2. Pre-Registration for the Lot Selection Drawing. To be eligible to participate in the VIP Lot Selection Drawing, a Pre-Registration will take place from now until 5:00 PM on Wednesday, March 11 (2 days before the event). During the pre-registration period, it will be necessary for you come to the Valencia Cay sales office to deliver a reservation deposit check in the amount of Five Thousand Dollars ($5,000.00) made payable to “Valencia Grove” and fill out the reservation paperwork that will be used at the drawing, which will include (a) a Buyer Registration Form, (b) a Reservation Deposit Form, (c) a Disclosure Summary, and (d) a Receipt for Documents. If you cannot visit the sales center in person during the pre-registration period, please call us to make arrangements to have your reservation deposit check (or wire transfer) and paperwork delivered to us before the end of the pre-registration period.
Please be aware that the reservation deposit check must be from an account in the actual name of the buyer reserving a lot (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 reserve a lot or do not subsequently enter into a contract for purchase of a home.
3. Lot Selection Drawing and Process. At 8:30 AM on Friday, March 13, buyers will be allowed into the special event tent to sign-in for participation in the VIP Lot Selection Drawing. Even though you pre-registered, you (or a representative as described in paragraph 4 below) must be present on Friday, March 13 to actually participate in the drawing. At 9:00 AM, the sign-in process will close and the VIP Lot Selection Drawing will begin to establish the priority order for buyers to reserve a brand new lot and home in Valencia Grove. At that time, a random drawing of names will take place from all potential buyers who properly signed-in as described above. Once your name is called, you will then meet with a sales representative and select an available lot and home.
4. Unable to Personally Attend. If for any reason you are unable to personally attend the VIP Lot Selection Drawing on Friday, March 13, you may send a representative in your place, but we must have timely received in our office your $5,000 reservation deposit check (or wire transfer) and your fully completed reservation paperwork during the pre-registration period (i.e., prior to 5:00 PM on Wednesday, March 11, 2020). If you are represented by a broker, your broker may act as your lot selection representative, however, a broker may only act as a lot selection representative for one customer at the drawing.
5. One Drawing Spot Per Immediate Family. Lot drawing spots are not transferrable so whatever number is given out to a buyer, the person(s)/couple with that reservation number are the ones that will have to go to reservation and contract. Only one lot drawing spot per immediate family will be given out. If it is determined that any person or immediate family received more than one number for the drawing, their reservation will be cancelled.
6. Contract Execution. After you have reserved a home and lot, you will have 3 days to enter into a Purchase Contract for the purchase of the home and lot. A deposit of ten percent (10%) of the total purchase price (base house price plus lot premium), less the $5,000 reservation deposit, will be required to be paid at the time of execution of the Purchase Contract. You will receive a sample 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 provisions regarding the NO INVESTOR POLICY described below. Please be aware that additional monies will be required to be paid at the time of selection of options and upgrades in accordance with the Purchase Contract.
7. Brokers. If you are being represented by a broker, your broker must be present with you at the time of your pre-registration and must complete a Broker Registration Form or they will not be recognized as your broker. The broker will also be required to enter into a Broker Participation Agreement with us at the time of execution of your Purchase Contract. Brokers interested in purchasing a lot for himself/herself, may do so, but may only purchase one lot and must otherwise abide by all of the above procedures like any other customer.
8. No Investor Policy. A No Investor Policy will be implemented at the opening of Valencia Grove. Therefore, you may only purchase one lot in Valencia Grove and you must intend to purchase the lot and home as your primary residence in Florida (but it does not necessarily need to be your primary residence). The Purchase Contract is not assignable or transferrable. The Reservation Deposit Form and Purchase Contract will require you to make certain representations regarding your purchase and will contain certain agreements to limit your ability to list or advertise the home for sale prior to closing. In addition, in the event you sell the home within one (1) year after closing, 100% of the gain realized from such sale shall be paid to the Seller from the proceeds of such sale except for a sale resulting from a hardship event that is documented and approved in writing by Seller (i.e., divorce, job transfer out of the area, or other reason acceptable to Seller). Any breach will be considered a default under the Purchase Contract which will provide the Seller with the right to terminate the Purchase Contract and retain all deposits and other monies paid by you. These restrictions and obligations will be contained in a deed restriction recorded at closing. A summary of the No Investor Policy is included with the reservation documents.
If you have any questions not answered here, please feel free to contact the sales office at 772-226-9000. We look forward to seeing you during Pre-Registration and at the VIP Lot Selection Drawing on Friday, March 13, 2020!