Once the Town has verified that each selected individual buyer meets the terms of the deed restriction and is financially capable of purchasing a unit, each individual buyer will be required to sign a Purchase and Sale Agreement and place an earnest money deposit of $10,000 (earnest money deposits for businesses purchasing units will be 10% of the unit value). Earnest money deposits may be reduced on a one-off basis at the discretion of the Town and our development partner, Triumph Development, if a buyer can still demonstrate the financial capacity to purchase the home.
Businesses will be required to sign a modified Purchase & Sale Agreement which requires a non-refundable Priority Fee of $50,000 which will be collected by the Town and a separate 10% earnest money deposit.