HAVE A QUESTION? Please review our most frequently asked questions. If you still have questions, please fill out the Contact Us form (located under Company) and we will get back to you right away. You can also call us at 403-346-3037.
How much can I afford? – Your Cachet Fine Homes Sales Manager is very knowledgeable and up to date in all aspects of Real Estate Financing. They will be able to inform you what value of home you can afford, and based on this, what your monthly payments will be based on current mortgage rates.
Down Payment – Typically the minimum Down Payment is 5% of the purchase price, however there are options that you can discuss with your Sales Manager. For those that do not have the 5% Down Payment there is a program called “Sweat Equity” and Cachet Fine Homes will give you a credit for any work provided. There is a limit to the amount of “Sweat Equity” allowed. See your area Sales Manager for details.
Mortgage Pre-Approval – It is strongly recommended that you arrange a pre-approved mortgage with a lender of your choice or our Exclusive Mortgage Broker (located under Financing). By utilizing our brokerage service you will be provided with mortgage incentives and discounts. In order to be pre-approved for a mortgage you will need to provide the lender with the following;
- Previous years T-4 slips, or a copy of your tax return
- A letter from your employer which states that your employment is secure
- Social Insurance Number/Birth Date
- Proof of income
- Proof of Down Payment
Typically, it will take the lender two business days to approve your loan request from the date all information is provided to them. The approval will be subject to them receiving an Offer to Purchase and appraisal on your new Cachet Fine Home.
Once you have been pre-approved, your Cachet Fine Homes Sales Manager will assist in finalizing your lot selection and new home plan. Then a Real Estate Purchase Contract is completed, an appraisal is ordered and all is delivered to your lender by the Sales Manager. Within two business days you should be delivered a confirmation letter from the lender. Congratulations! You are now unconditionally approved and ready to start building.
Lawyer – After your lender approves the mortgage, and has received the appraisal, they will send mortgage instructions to the law firm of your choice who will prepare the mortgage documents and will contact you to arrange a meeting to finalize them. At that meeting you can ask any questions you may have about your mortgage or the property purchase process. Immediately prior to the possession of your new home, they will collect the balance owing as well as payment for any change orders and any required property tax adjustments.
PRIOR TO CONSTRUCTION:
Changes – If you wish to make changes before construction of your new home, you should discuss them with your Sales Manager who will be pleased to discuss them with our design and estimating staff to determine if any cost implications apply. If you wish to include the cost of any changes into your mortgage, you must first obtain approval from your lender.
Pre-Construction Meeting – At the pre-construction meeting you will be joined by your New Home Design Consultant. This individual will be your direct contact to the Cachet Fine Homes office. Topics discussed at the meeting will include the following:
- Blue Print Orientation
- Site Plan Review
- Exclusive Suppliers
- Interior l Exterior Selections
- Completion Date
- Any questions you may have
Your New Home Design Consultant will set the estimated completion date at this meeting. This will be based on available time slots and the length of time we feel is required to build your new home. We may adjust this date if necessary as construction progresses. Please do not give notice to vacate a rental, hire movers, or in any way plan your move until you confirm the date with your Site Supervisor which will be no less than forty days prior to completion.
Site Supervisor – Your Site Supervisor is the most important member of our construction team. He is in charge of all aspects of the construction of your new home. Your Site Supervisor is available to you when you need him, but we ask that you respect his personal and family time unless you have a concern that can’t wait until normal working hours.
New Home Design Consultant – Your New Home Design Consultant will be responsible for providing all exterior finish selections, orientating you with the exclusive suppliers and administering all change orders through the course of construction.
Interior Colours – Interior colours can wait until the electrical walk through, however, we need to know at the time of the pre-construction meeting if you will be changing a bathtub or shower colour, as they are installed prior to the completion of the rough framing.
Electrical Walk Through – When your home is rough framed you will be asked to attend an on site electrical walk through, at which time you can determine phone and cable TV locations.
Changes after the start of Construction – We will be happy to assist you in making any changes you request, unfortunately changes can get more difficult and costly after construction has commenced.
Should you wish to make any changes to your plans or specifications after the start of construction, you will be asked to sign a change order form which will specify the cost and details of the change. This assists us in amending our documentation and notifying the appropriate subcontractors.
Many changes will cause a delay in the completion of your home. Sometimes, just asking us to quote on a change will cause a delay because we may have to wait for information from our suppliers and submit the quote to you for your approval.
Payment for Changes – Once the appraisal is done, your mortgage amount is set and it is no longer possible to incorporate the cost of changes into your mortgage. This means that you will need to pay cash for any changes. Changes cannot be made after the final statement has been issued, which is about 20 days prior to the completion of your new home.
Allowances – Most homes include allowances for cabinets, ceramic tile, light fixtures, flooring and shelving. You are responsible for ensuring that selections of the material covered by the allowances is done early enough to allow the suppliers time to order the materials and schedule their timely installation. If the cost of your selection is higher than your allowance amount, you will be required to make payment for the difference directly to the supplier.
Exclusive Supplier – We have a select group of approved suppliers as part of our team who we can count on to do an excellent job, and who have a record of giving us warranty service. While we may consider hiring an alternate supplier that you request we must first be convinced that they will complete the work to our quality and schedule standards before we agree to retain them. We will not be responsible for any warranty on their work.
Completion Walk Through – About three days prior to your possession date you will be asked to inspect your home with your Site Supervisor. Each component will be checked and any deficiencies will be noted on a completion walk through form.
Possession Walk Through – Immediately prior to possession you will be asked to acknowledge that any deficiencies noted have been dealt with. If any deficiencies still exist, they will be noted on the Certificate of Possession form provided by Travelers Home Warranty Program. Once the final walk through is complete, you will need to sign the Certificate of Possession. Our Site Supervisor cannot give you the keys until our lawyer’s office confirms that all funds have been paid.
Utility Hook-Ups and Insurance – You will be responsible to arrange for water and sewer, natural gas, electric power, telephone, and cable TV hook-ups. You will require homeowner insurance, and will be asked to provide proof of this insurance to our lawyer.
Seasonal Construction – Depending on the time of year your home is built, there may be exterior items that are left unfinished when we complete your home. We will not install any landscaping until we are comfortable that all settlement of back fill is reasonably complete. Further, we moisture test any exterior wood prior to painting it. Usually we have a number of homes to complete in the spring and this takes some time to clear up. We will complete these seasonal items in a timely fashion.
After Sales Service – Cachet Fine Homes has an extensive after sales service program which will be explained to you at the time you move into your new home.