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LOT SELECTION DRAWING GUIDELINES

JULY 16, 2021

 

Thank you so much for your interest in Valencia Grove and Valencia Cay at Riverland! These are the guidelines that will be used for your participation in the Lot Selection Drawing being held on Friday, July 16, 2021, at 9:00 AM, broadcasted from the Valencia Cay Sales office via Zoom. If you want to take advantage of this exciting opportunity, the policies and procedures below will apply to the Lot Selection Drawing. If you are interested in general sales and product information about Valencia Grove or Valencia Cay and you are not participating in the Lot Selection Drawing, please contact the sales office at (772) 226-9000

Please read all of the following to make sure you are familiar with how the lot selection process will proceed on Friday morning.

1. Priority Order Determined by Random Lot Selection Drawing. The order for buyers to purchase a home will be established by a random Lot Selection Drawing that will be broadcast via Zoom and take place beginning at 9:00 AM on Friday, July 16, 2021. Participants will be permitted to join the Zoom meeting as early as 8:50 AM. Participants selected will have the opportunity to purchase one of the available lots at Valencia Grove or Valencia Cay once their name is selected as more fully discussed below.

2. Pre-Registration for the Lot Selection Drawing. To be eligible to participate in the Lot Selection Drawing, a Pre-Registration will take place from now until 5:00 PM on Wednesday, July 14 (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” or “Valencia Cay” (as applicable) and fill out the reservation paperwork that will be used at the drawing, which will include (a) a Buyer Reservation Form, (b) a Reservation Deposit Form, (c) a Disclosure Summary for the Riverland Community Association, and (d) a Disclosure Summary for the applicable Neighborhood Association. 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.

A Zoom link will be provided to all participants upon the verification and receipt of all required pre-registration documents and the reservation deposit.

Please be aware that the reservation deposit check must be from an account in the actual name of the buyer purchasing 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 select a lot or do not subsequently enter into a contract for purchase of a home.

3. Lot Selection Drawing and Process. At 8:50 AM on Friday, July 16th, buyers will be allowed into the Zoom Meeting to view the Lot Selection Drawing. At 9:00 AM, the Lot Selection Drawing will begin to establish the priority order for buyers to purchase a home in Valencia Grove or Valencia Cay. At that time, a random drawing of names will take place from all potential buyers who pre-registered as described above. Once your name is called, your sales agent will call you on the phone number provided on your Reservation Deposit Form. You will have five (5) minutes to ask any questions and select an available lot and home.

4. Unable to Personally Attend. If for any reason you are unable to personally attend the Lot Selection Drawing on Friday, July 16, you may provide a phone number of a representative to attend 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, July 14, 2021). 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 buyer 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 selection number are the ones that will have the opportunity 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 entry(s) will be cancelled.

6. Contract Execution.After you have selected a home and lot, you will be contacted by the sales office to schedule a contract signing appointment to execute the Purchase Contract for the purchase of the home and lot. The contract signing appointment shall take place within 24 hours of the Lot Selection. 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. 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 buyer.

8. No Investor Policy. You may only purchase one lot in Valencia Grove or Valencia Cay, and you must intend to purchase the 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 to speak with a sales associate. We look forward to seeing you during Pre-Registration and virtually at the Lot Selection Drawing on Friday, July 16, 2021!