We are so happy that you are taking the steps to becoming a homeowner at OTTO Brewerytown!  If you have already received a mortgage pre-approval and are ready to reserve a Unit a OTTO Brewerytown, here are the steps to purchasing a home from reservation to closing.

If you would like to discuss financing options, please visit our Contact Us page to get connected with one of our mortgage partners. **For a limited time, First Priority Bank is offering a $500.00 closing credit to qualified buyers.

1. Select a Unit

There are various floorplan options available at OTTO Brewerytown. We will assist you in selecting the best Unit for your needs.

2.  Deposit Agreement 

In order to reserve your Unit, a Reservation Agreement will be signed and a fully refundable deposit of $1,500 will be due.

3.  7 Day Review & Interior Finishes Selections

After the Deposit is submitted, you will have 7 days to review the Public Offering Statement, Declaration, Agreement of Sale and other related materials.

We will also review with you the available Designer Finish Options to be included in the purchase of the Home.

4.  Agreement of Sale

At the end of the 7 Day Review period, an Agreement of Sale will be executed.  At the time of signing, the following payments will also be due:

2% of the Purchase Price as an escrow deposit

100% of the Finish Options (if applicable)

5.  Escrow

During escrow, your builder will be hard at work bringing your home to life.  The escrow period could be 30 days to 8 months depending on the construction schedule for your unit.  The escrow period for new construction is similar to the escrow period for a typical re-sale.  During escrow, the following things will be completed:

• Finalize mortgage application

• Review Homeowners Association (HOA) documents

•  Appraisal (scheduled by your mortgage lender)

• Title Search & Commitment (ordered by your agent)

• Get Homeowners Insurance

• Home Inspection (if applicable)

6.  Final Walk-Through

A few weeks before settlement/closing, we’ll schedule a final walk-through of your new home with your agent.  During this time, we create a final Punch List for your unit.

A few days before settlement, you should also receive final Closing Disclosures from your lender to confirm final closing costs and your monthly mortgage payment.

7.  Settlement

This is it!  On Settlement Day, you will become a new homeowner of OTTO Brewerytown!

8.  Post-Settlement Inspections

Congratulations on becoming a new homeowner!  After settlement, there are a few follow up inspections in coordination with your Home Warranty:

30-Day Punch List

After you move-in, you may notice a few items in your new home that need to be addressed.  A 30-Day Punch List will be generated to address any outstanding items.

One-Year Inspection

One year after your closing date, your builder will conduct a One-Year Inspection to address any issues that may have come up during the course of the year.