The Building Process

Purchasing a new home is an exciting experience. The process is also complex, with many details to be decided and arranged. While Titan Homes is building your new home, you participate by taking care of several important aspects of your purchase. The chronological list that follows outlines the events that typically take place in the purchase of your new home. Where time frames are specified, you need to observe them in order for us to deliver your home on schedule.

Purchase and Sale Agreement

The purchase agreement and various addenda constitute the legal understanding regarding the purchase of your new home. Please read the purchase agreement and all attachments carefully. As with any legal document, you may wish to have your attorney review them.

Applying for Your Loan

The first item you'll need to take care of is completion of a mortgage application. We have arranged approved lenders to service your needs in order to ensure a smooth transaction. Plan to accomplish this within (5) business days of signing your purchase agreement. However, it is in your best interest to get preapproved prior to doing the Purchase Agreement to understand what you qualify for so that we can tailor a home to suit both your tastes and your financial requirements. If the purchase agreement has been done prior to you obtaining the preapproval, bring down the completed purchase agreement with you when you first visit the lender.

Your lender's job is to understand your particular financial circumstances completely. You will review all information on the application at your meeting with the loan officer. A situation rarely arises that your loan officer has not encountered in the past. Do not hesitate to discuss any questions you have regarding your assets, income, or credit. By providing complete information, you prevent delays or extra trips to deliver documents.

Your New Home Selections

Part of the fun of buying a new home is selecting the finish materials and colors. You will make some of these choices at Titan Homes Sales Office and other at our suppliers' showrooms.

Titan Homes provides you with selection sheets that list the choices you need to make. Schedule time to visit our Sales Center or our online selections center to make your choices. Plan to finalize your selections no later than 30 days from date of the Purchase Agreement signing. Your prompt completion of these selections prevent delays caused by backorders.

You are welcome to bring cushions or swatches to showrooms to coordinate colors. View color samples in both natural and artificial light to get an accurate impression of the color. Variations between samples and actual material installed can and will occur. This is due to the manufacturer's coloring process (dye lots) and to the fact that over time, sunlight and other environmental factors affect the samples.

Your Condominium Association, Homeowner's Association, governmental requirements and selections your future neighbors have already made may limit some of your choices for exterior finish materials. The sooner you can make your selections, the greater the number of choices you have. Driving through the area to view existing home is one way to select exterior colors. Selections often look different on a full-size home.

Construction of Your Home

We invite you to tour your new home with us at certain points during construction at the scheduled meeting times. The construction of a new home differs from other manufacturing processes in several ways. By keeping these differences in mind, you can enjoy participating in the construction process and assist us in building your new home:

• As a consumer, you rarely have the opportunity to watch as the products you purchase are created. Your new home is created in front of you.
• You have more opportunity for input into the design and finish details of a new home than for most other products. Our success in personalizing your home depends on effective communication.

With single-family homes you have the opportunity to meet with us at several points in this process. The first of these is a preconstruction conference, where we review your home plans, selections, and the changes you have requested. At that time, we provide an overview of the construction process and answer your questions.

Internally, a lot is going on behind the scenes. From scheduling different trades and suppliers, to addressing the requirements of the land we are building on, we are constantly in a state of evaluating the best practices and procedures for your particular home.

Homeowner Orientation

The homeowner orientation has two purposes. The first is to demonstrate the features of your home and discuss maintenance and our limited warranty program. Equally important, we want to confirm that we have delivered your new home at the quality level shown in our model homes and will all your selections correctly installed.

Titan Homes takes responsibility for resolving any items noted. We will complete most items before your move-in. If work needs to be performed in your new home after your move-in, our warranty department is available to schedule appointments Monday through Friday, 7:30 am to 4:00 pm. Under normal circumstances, you can expect us to resolve all items within 15 working days. We will inform you of any delays caused by back-ordered materials. Please note that we will correct only those items listed.

Closing on Your Home

Titan Homes recognizes that timing is vitally important in planning your move and locking in your loan. You will be notified by email of a delivery date when construction reaches a point at which weather and other factors are unlikely to affect completion of your home. This occurs approximately 30 days before closing. Until then, many factors can influence the schedule:

• Weather can delay getting the foundation in and can affect framing, roofing, and exterior finish.
• Material shortages and labor strikes may also affect the construction schedule.
• If you are delayed in responding to a request from your lender, this can affect work progress.
• Change orders signed after the original purchase agreement has been completed can add to the schedule.

The closing, or settlement, takes place shortly after your orientation. Titan Homes will notify you of the date of closing approximately 30 or more days before the settlement appointment. Typically, the closing process takes from 15 minutes to one hour.

At closing, the documents necessary to convey your new home to you and to close the loan from the mortgage company will be executed and delivered. In addition to these standard items, the lender, the title company, and Titan Homes may require other documents to be signed. The principal documents typically include the following:

• General Warranty Deed - The general warranty deed conveys the home and lot to you, subject only to permitted exceptions. This does not apply if you already own the lot.
• Title Commitment - At or before closing, you will receive a standard form for owner's title insurance commitment to insure salable title of your home to you in the amount of the purchase price, subject to the permitted title exceptions that may be described in the purchase agreement. Review the title commitment carefully. Discuss any questions with your title company. Within 60 days after the closing, the title company mails a standard owner's title insurance policy, insuring you the title to your home in accordance with the commitment you received at closing. Keep the title insurance policy with your other valuable papers.
• Titan Homes Limited Warranty - Every home comes with a 10-year structural defect and 2-year systems warranty provided by 2-10 Home Buyers Warranty® as well as our standard 1-year limited warranty.  We provide a copy of the limited warranty in this manual for your review. Please read it thoroughly.
• Promissory Note - The promissory note is from you, payable to the lender in the principal amount of the loan, plus interest.
• Deed of Trust - This encumbers your home as security for repayment of the promissory note.

Your Feedback and Suggestions

Our desire to maintain open communication with you extends through the buying process and after your move-in. In an effort to improve the product and service we provide, we welcome your comments on how we've performed. We survey our customers after move-in. Our goal is to build the best home and the best customer relationship possible. Your feedback helps us reach that goal.

As time passes, if your housing needs change, we are ready at any time to build you another home. We also appreciate referrals! That's one of our best forms of advertising as our current customers explain the benefits of buying a new home with us.