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Home Buying Process



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Home Buying Process
Since 1996, Odyssey Homes has been building dreams for homeowners on all economic levels. The Tempe-based company has built developments all over Arizona, including Toscana and The Village of Scottsdale Links in Scottsdale, Ravenswood in Phoenix, and Elk Run in Payson. They have also built several custom homes in various Valley developments, including DC Ranch and Chaparral Pines.

Odyssey Homes was built with the vision to provide all customers with the finest quality home for their investment. To accomplish this important goal, Odyssey€™s philosophy integrates intelligent design, economical construction, and superior quality workmanship.

Golf enthusiasts will be thrilled with our newest community, Balera at FireRock Country Club in Fountain Hills. A winner of the MAME €œSmall Volume Builder of the Year€ award by the Homebuilders Association of Central Arizona, Odyssey Homes continues its tradition in quality home building with this new, gated golf course community in the East Valley.

For complete details about Odyssey Homes, visit our website www.odysseyhomes.com.

Acquiring Your New Home - A Rewarding Experience

The journey of purchasing a new home can be a very rewarding experience if you understand the process and know what to expect. We strive to make this a very positive experience by working with you through the entire process to make sure you get exactly what you desire. The simple steps below take you through the process so you know exactly what you will need to do, as well as what we will do.


STEP 1: LOT AND PLAN SELECTION

Come tour our models and carefully review all the floor plans available. Consider both your current and future needs for space, function, location and of course, entertainment. Next, consider the available lot choices for your floor plan, and your view preference. Visit our models and review our site map with one of our Sales Associates and check out the alternative views and ambiance to make sure you select just the right location for your new home.

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STEP 2: PURCHASE AGREEMENT

Your decision to buy one of our homes is confirmed by a Purchase Agreement. Prior to your purchase, you will receive your Homeowner Orientation Book, a reference guide that includes copies of important documents you will need to be familiar with. These documents include the Covenants, Conditions and Restrictions (CC&R's), the Articles of Incorporation, the Bylaws and the Public Report issued by the Arizona Department of Real Estate. When executing your Purchase Agreement, you will sign a receipt stating that you have read and understand these documents. Of course, our sales counselors are available to answer any questions you may have on any of these documents. An initial Earnest Money Deposit of $5,000 will be required when you sign the Purchase Agreement, refundable until Step 5 below.

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STEP 3: LENDER PRE-APPROVAL

You will now need to contact your lender and secure their approval and commitment that they will fund the mortgage amount required under your Purchase Agreement on the closing date. If you don't have a lender, Odyssey will be glad to provide you a list of companies that could assist you in this matter. In either event, you will need to provide confirmation to Odyssey as provided under your Purchase Agreement that you are satisfied with all conditions to your decision to purchase, including financing. Once you do confirm your decision to purchase, you will need to provide a 10% down payment of the total Purchase Agreement price.

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STEP 4: OPTIONS SELECTIONS

If you desire to add features from our list of available options to your selected plan, you will have an opportunity to meet with our in-house accredited Interior Designer and Selections Coordinator to select your options. These specially-trained designers will help you make selections regarding available carpet, tile, cabinet, countertop, appliance and lighting options, as well as any desired custom finishes, to help you reflect your personality in your new home. You have 30 days from the date the Purchase Agreement is signed to make these selections.

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STEP 5: FINAL DEPOSIT AND TIME SCHEDULES

The final step in completing your Purchase Agreement is to pay the balance of your deposit. For all buyers, the additional deposit required will be 50% of all standard options and 100% of all custom options. At this point, your Purchase Agreement with Odyssey Homes to purchase your new home is complete with the payment of the additional deposit money. It is then our turn to start construction and ensure that we deliver a quality new home to you ... on schedule.

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STEP 6: PRE-CONSTRUCTION MEETING

Prior to starting construction, you will be invited to a meeting to review your floor plan and options with the Odyssey Construction Superintendent and the other members of the Odyssey team. You will be asked to "sign-off" and confirm the final plan, assuring that everyone understands the special features and options you've chosen for your home.

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STEP 7: CONSTRUCTION OF HOME

Construction will then commence. It usually takes approximately 8 months for completion of a home, but timeframes may vary based on the home selected and then-existing construction schedules.

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STEP 8: WALK THROUGH

At the end of construction and prior to closing, you will be invited to walk through your new home with our Construction Superintendent to make sure everything meets with your satisfaction. Any minor items would be noted and Odyssey Homes will undertake any needed repairs as quickly as possible, generally within 30 days of your closing.

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STEP 9: CLOSING

This is the final step in your home acquisition experience. The title company will assist you in all your closing needs and will provide you with all the necessary documents; such as obtaining condominium insurance, title transfer, etc. Once the balance of the purchase price has been deposited with them, they will transfer your home to you and insure title for both you and any lender.

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STEP 10: MOVE-IN AND START MAKING MEMORIES!

Odyssey wants you to have the smoothest move-in possible. To ensure this, Odyssey will co-ordinate your move-in date with any construction nearby to allow you easy access to your home, with no construction related impediments. Once you are in, Odyssey would be happy to assist in coordinating any needed repairs to your home resulting from the move. Understandably, these costs would be to your account.

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Odyssey Homes - 480.836.7770