Frequently Asked Questions (FAQs)
Q. How can you sell your lots so cheaply?
A. Under our Summer Spectacular Sale, lot prices are substantially below cost. The developer is only able to offer this fantastic deal because the subdivision’s builder is willing to “make up the difference” by giving up the majority of his profit when you actually build your home, in effect giving you a beautiful home "at cost."
Q. When do I take title to the lot?
A. Because this promotional pricing is available only for those genuinely desiring to build in Lauren Pines, the title to the property will not be transferred until just before construction begins, though you will be the legal owner of the lot in the interim.
Q. What is the price range of the home I'm required to build?
A. There is no set price range per se, as long as the home you build meets the minimum requirements of the HOA rules for new construction (e.g., 2,000 HSF minimum and 40% minimum brick/stone front).
Q. Can I choose my own house plans or must I select only from the builder's plans?
A. You may choose from one of the builder's recommended plans or select your own.
Q. What about taxes and HOA fees?
A. As a lot owner, you will be responsible for all HOA fees and taxes.
Q. What happens if I don’t build within 3 years?
A. If you do not build a home within the required 3 year time frame, you will have the option to request an additional extension, which the developer would consider as long as you show you still have plans to build. Otherwise, you would need to either pay an additional fee for failing to build, or sell the lot back to the developer.
Q. Can I transfer my ownership of a lot to someone else?
A. Yes, as long as the developer grants approval.
Q. Is seller financing available?
A. Yes. You would need to pay off the loan within 2 years.
Q. Do I need to qualify in order to take advantage of this great pricing?
A. If you do not need seller financing in order to purchase the lot, then no pre-qualification will be necessary.
Q. Do I need to put any money down if I take advantage of your seller financing?
A. Yes, but amount is negotiable based on what you can afford and based on a review of your application for financing. Call for details.
Q. Are all lots available for purchase?
A. Most lots are, but premium lots may have an additional surcharge. To view available lots
Q. I’d like to purchase a lot. What do I need to do next?
A. Give us a call at (877) 81-PINES and we’ll be glad to help!
Q. What does a lot normally cost in Lauren Pines?
A. Lot prices vary based on the size and location of each lot. You can view our standard price list
Q. Can I purchase more than one lot?
A. Yes, you may purchase as many lots as you wish, subject to the developer's approval, at our standard prices, but only one lot at our promotional pricing.
Q. Can I use my IRA or 401(k) to purchase a lot and build a house for my own personal use?
A. IRS rules against “personal benefit” from the use of retirement funds are clear. Your retirement account funds must be used for investment purposes and not for any personal benefit. So, while you could not fund a lot purchase in order to build your own residence, you could use it to build a spec house to be built and sold as an investment. One of our Preferred Builder would be more than happy to work with you in such an arrangement.
Q. What type of upkeep am I required to maintain for my lot?
A. There should be very little upkeep required for your lot. You will periodically want to inspect it and pick up any trash that may have blown onto the property. In the summer you will also want to mow the road frontage occasionally as well (alternatively, you can hire the resident landscaper to do this for you for a nominal fee).
Q. How much are property taxes on a lot?
A. Your taxes will be based on your actual purchase price of the lot and on the millage rate set by York County each year. In general you can expect to pay at least $500 but less than $900 a year for property taxes on a lot.
Q. When I decide to build, how long will it take to have my house built?
A. Generally, it takes an average of six months from start to finish, though with no delays a builder may be able to finish within three to four months. In theory, the home can be finished in as little as 60 days, but the builder could not guarantee this as there are many variables (e.g., rain) that impact the actual completion time.
Q. Ok, I want to purchase a lot. What do I do next?
A. Great! We think you’ll be very happy with your decision. Just call us toll free at (877) 81-PINES or email us to request a contract.