Offer to Purchase

This is the contract to purchase the home. At time of contract we secure your home site and lock in the price of the home. We may schedule your Design Selections appointment at the time of contract or prior to contract depending upon your unique situation. Many clients are relocating to this area so we make every attempt to get as much accomplished while you are in town. This sometimes means you will need to choose your homes features before the contract is signed.

Earnest Money

Riptide Builders does not accept Earnest Money.

Builder Deposit

This is your initial investment in the home. Builder Deposits are required at the signing of the Offer to Purchase. The average Builder Deposit is 3% of the purchase price. This is credited towards the purchase price at closing.

Financing

In order to go under contract with us, you will need to be pre-approved with a mortgage lender. Riptide Builders is happy to introduce you to our Preferred Lenders, Kevin Miller of Fairway Independent Mortgage and Chris Nagle of Alpha Mortgage. Both of our Preferred Lenders offer closing cost assistance. Please click here for contact information on our Preferred Lenders.

At your mortgage appointment, you will discuss and decide which financing options are best for you with your loan officer. Once you decide on your financing options and receive loan approval, please prove Riptide a copy of your loan commitment letter along with the contact information for your loan officer.

If you have a home to sell it should already be under contract in order to proceed with us. 

Color Selections Meeting

Once you have signed the Offer to Purchase you will be contacted by our Client Relations Manager for a Color Selections Meeting.

In creating the best home buying experience possible, we have made the personalization process easy. With the ability to do selections in our convenient Hampstead Design Center, all your home options can be selected at once, i.e., paint colors, flooring, cabinetry and exterior options. You will surely find options that will complement your personal style and taste.

The Client Relations Manager will assist you with choosing all the personalization options for your home. The CRM also explains our build process and sets expectations for the next 130 days, who the key points of contact are, shows you how to access to your client web portal and reviews our site visitation policy.

Your selections are then submitted to the Architectural Review Committee (ARC) for your community, if applicable. This may add up to 3 weeks to your build schedule and is not a process Riptide controls.

Tree Walk

The first step in the build process begins with your Tree Walk. This meeting takes place at the build site with members of the Riptide Build team. Together you and the team will walk the lot noting where the house will sit and what trees must be removed to accommodate your construction. Riptide tries to keep as many trees as possible for all our builds. However, sometimes lot size or orientation may preclude saving every tree. And the homeowner's association for your community often has input on what can be cut.

Rough Walk

A rough walk or (pre-drywall walk) gives you an opportunity to see what is behind the walls before being covered with drywall. You and your Build Superintendent will walk the frame of your home and verify phone, cable jacks and placement of electrical outlets is as expected before we move on to the next stage. This will alleviate having to do any serious changes later which can be costly to you. The Rough Walk is a required meeting that occurs within a very limited time frame in which we stop construction. We ask for your cooperation and to please be prepared for this meeting. Our Client Relations Manager will call you to schedule this appointment with you. 

Financing Checkpoint

Once your home is dry-walled closing is a few weeks away. You should be in contact with your mortgage lender and provide them with any documentation they may need to finalize your loan. This is usually a good time to lock your loan. This is also when you should determine what insurance company will carry your homeowners insurance.  

Pre-Final Walk

Our Client Relations Manager will schedule this meeting with you. Since we have a lot to cover with you in a short time, we recommend that you make arrangements to come without your children for this important meeting. Your Build Superintendent will review the interior and exterior with you, going over the quality that was put into your Riptide Home. This is an appropriate time to note any cosmetic defects. Riptide photo documents anything needing attention. It is normal to find some areas that are in need of paint touch up or minor adjustment. Your Build Superintendent will be prepared to mark cosmetic issues with colored tape. It is customary to have your Final Walk and Homeowner Orientations 2 to 3 days after this meeting.

Final Walk (Homeowner Orientation)

The Homeowner Orientation or Final Walk is the last step and takes place 2 to 4 business days after your Pre-Final Walk. You will meet the Client Relations Manager back at your home and review the outstanding items from the Pre-Final to make sure everything is in order. You then accept the home by electronically signing our Home Condition document. Your closing with the attorney usually takes place later that day or the next day. Your home is expected to be at 100% and ready for move in at this point. You will receive your keys along with our Welcome Home Book containing a welcome letter from our owners, the construction plans, your lot's plot plan, the Certificate of Occupancy, the Improvement Permit (if applicable), various material care sheets,  a copy of our warranty with claim instructions, a tradesmen contact list, utility information and the owner''s association contact sheet.

Closing

The final step has arrived. This appointment will be arranged by our Riptide's Closing Coordinator. The closing of your home will be handled by our attorney, Colby & Mincey PLLC of Wilmington either at their offices on Military Cutoff Road or at our Hampstead Design Center.

At this stage, you will be taking title and ownership of the home. A closing agent or attorney will explain and guide you through the paperwork. Depending on the type of loan you have secured, funds may be required at this appointment. Do not bring personal checks as they will not be accepted. Please be prepared with a cashier's check or certified funds. You can have the funds wired directly to the attorney as well.

That's it! Your are now the proud owner of an Riptide Home. We hope it will bring you as much joy as it has to us in helping you achieve the dream of home ownership.