Marlowe at Playa Vista Priority Registration
Brookfield Residential has announced the Priority List for Marlowe at Playa Vista will open up online October 20th at noon.
Getting on the priority list is the first step in the process of buying a new construction home. Even if you haven’t 100% made up your mind that Marlowe is the one, it’s a good idea to join the interest list to secure your place in line. The earlier you sign-up and are pre-approved (more about the pre-approval process below) the better opportunity you’ll have to get the location and plan that works best for you.
For those who sign-up for Priority Registration, Brookfield is offering a sneak preview of the models before they officially open to the public.
Playa Vista Living’s Guide to Buying New Construction Read the complete guide I put together based upon my experiences helping clients purchase new construction homes in Playa Vista.
Pricing for Marlowe at Playa Vista
Anticipated pricing for Marlowe at Playa Vista has been updated. The Residence 1CR ranging from 3123 – 3148 Sq. Ft. with 4 – 5 bedrooms and 3.5 baths is expected to start at $2,900,000. And, the Residence 2AR which is a bit larger with 3329 – 3341 Sq. Ft., 5 bedrooms plus loft and 3.5 bathrooms will start around $3,000,000.
Marlowe Residence 1CR – Anticipated at $2,900,000
Marlowe Residence 2AR – Anticipated at $3,000,000
Studio 3 is Open (the Marlowe Sales Office)
Studio 3 is Brookfield Residential’s sales office for all three new single family home developments: Everly, Marlowe and Jewel. At the sales office you’ll find floor plans, pricing, a small design studio and the Brookfield sales representatives. The model homes for Marlowe are expected to be ready late 2015. Be sure to bring your real estate agent with you on your first trip to the sales office if you would like to have representation throughout the purchasing process.
Should You Work With a Realtor?
I hear this question often. It is true you don’t have to use a Realtor to buy new construction. It is also true having an experienced advocate help you along the way does not change the price of the home, or cost you any money. Having a professional on your side can help you save money, time and energy. Most builders cooperate with agents by offering to pay a referral commission to the agent for representing you.
To have me or another real estate agent represent you, it is important to have your agent with you at the first visit to the sales office. Builders are strict about this policy.
Playa Vista Living’s Guide to Buying New Construction Read the complete guide I put together based upon my experiences helping clients purchase new construction homes in Playa Vista, CA.
Brookfield Residential’s Sales Procedure
Brookfield has a 4 step sales procedure. Steps 1 and 2 need to be complete to secure your place on the Priority List. Then you’ll want to start the process in step 3 with Wells Fargo to participate in the upcoming sales releases.
Note from Brookfield Residential’s site about establishing Purchase Priority: Purchase priority is established by the chronological order in which step two is completed. If you do not complete step one or pre-qualify, your priority placement cannot be guaranteed.*
- Step 1 – Provide your contact information
- Step 2 – There will be a few questions about your current home, income and if you’ll be taking out a loan for this purchase.
- Step 3 – A link will be provided to direct you to the preferred lender. Contact the lender to get this process started prior to the first release of homes for sale.
- Step 4 – The lender will ask you to provide the following documentation.
- Most recent pay stubs for the last 30 days
- W2 Forms for the last two years
- Federal Tax Returns (all pages and schedules) for the last two years
- Most recent two months Bank statements checking/savings to verify your down payment
- Most recent Quarterly Retirement account statement and/or 401k
- If you are paying all cash, bank statement to verify funds
Getting Pre-approved for New Construction
First, you should know you have the ability to pick the lender of your choice for the actual purchase. Brookfield does ask that you get pre-approved by their preferred lender prior to the phase release that you are interested in (start this process as soon as you have time). If you like the preferred lender and the rates are competitive there may also be perks available for working with them. Builders sometimes offer incentives to buyers if they use the preferred lender.
Let’s Work Together
Navigating the new construction buying process and very long escrow period is definitely different than buying a resale property. If you have questions about buying new construction in Playa Vista I’d be happy to speak with you. I can be reached at (310) 927-2433 or by email, email@example.com.