Want to reserve a home at Cully Green?
With construction coming soon, we’re starting to assemble the community of people who will live at Cully Green once it’s built. To do so, we’ll enter into reservation agreements with interested buyers. Earnest money associated with these reservations will be held in escrow and be 100% refundable.
Step 1: Review the site plan, unit plans, project amenities, and draft community vision statement to figure out if this community would be a good match. Also, take a look at the Reservation Agreement we’ll be using.
Step 2: Fill out and submit the 1-page Reservation Request Form. It’s short and sweet. We’ll wait until August 15th to review all the forms we receive.
Step 3: Once we figure out which homes are being reserved, we’ll sign Reservation Agreements. Refundable earnest money deposits will be $2,000.
Optional (but recommended): Join us for an information session and potluck from 6-8pm on August 8th at the nearby and recently completed Mason Street Townhomes (5842 NE Mason St.), which has a similar level of finish to Cully Green. This will be a chance to meet other prospective residents and ask questions about the project of Eli Spevak, the developer. If you're able to attend, please RSVP using the contact form below.
A few notes on reservation agreements…
Entering into a reservation agreement DOES mean that:
- No one else can reserve the same unit;
- Buyers will have the opportunity to convert your reservation into a binding purchase and sale agreement once the Disclosure statement has been approved by the State of Oregon (a requirement for condominium projects), assuming the reservation is still in effect at that time;
- Buyers will receive periodic (~quarterly) updates on project progress; and
- Buyers can exit the agreement and get 100% of their earnest money back at any time for any reason.
Entering into a reservation agreement DOES NOT:
- Guarantee a sales price. Over the course of permitting and construction, innumerable factors may cause sales prices to increase or decrease from current estimates.
- Commit seller to respond to buyer requests related to project design, finish materials, artwork, amenities… If the design heads in a direction a buyer doesn’t like, it’s always possible to relinquish the reservation.
- Grant the buyer a role in deciding who will (or will not) reserve other units
- Allow the buyer to assign the unit reservation to someone else.
Termination of a reservation agreement
- Either party may terminate a reservation agreement at any time. In the event of termination, 100% of earnest money will promptly be returned to the buyer.
Want more information? Call us:
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