How does Irvine Company Prioritize buyers for new homes?

NEW -> Contingent Buyer Assistance Program
L

lovingit

Member
Is it based on
1) cash buyers
2) non-contingent buyers
3) contingent buyers

But let's say you have two buyers.  Both are non-contingent buyers who need a loan.  Both get their documents in ahead of time and both pre qualify.  How do you decide who is ahead of who on the priority list?

Is it the buyer who waits in line at 9am on opening day vs the buyer who gets there at 3pm?
 
From my limited experience, it is loosely based on:

1. Time stamp, the time home buyers turn in their documents. 
2. The time home buyer got pre-qualified and the qualified amount.  Cash buyer need to have found verified.
3. From the pre-qualified buyer list,  they sort of going down the list, pick who ever is readily available or convenient to them.
4. The result of the magic 8 ball.
 

lovingit said:
But let's say you have two buyers.  Both are non-contingent buyers who need a loan.  Both get their documents in ahead of time and both pre qualify.  How do you decide who is ahead of who on the priority list?

Is it the buyer who waits in line at 9am on opening day vs the buyer who gets there at 3pm?
Click to expand...
It depends on who turn in their pre-qualify papers in first.  If the 9am buyer turn his doc. in at 9am and 3pm buyer turn his doc in at 3pm,  the 9am buyer should be ahead of 3pm buyer in the priority list.  However, a lot of factors affect IP's decision.  For example, the 9am buyer may not get pre-qualify before the 3pm buyer even if he turn the doc. early (due to missing info, lost doc, got a slower loan person handle the process etc).  The 9am buyer may not get pre-approved for enough amount or lower amount than the 3pm buyer.  You need to get pre-approved about 10% above the estimated purchase price to cover for the upgrades etc.  The 9am buyer's name is really hard to pronounce so they call the 3pm buyer first. :)
 
Did you know that IP allows for the SAME buyer to buy multiple homes when it's their turn on the priority list??
 
Realistically, there is no "priority list".  It's more of a courtesy list.  This is why you can never see the list or know where you are on the list.

Essentially, if you show up with  money in hand on the date of release, you have a good chance of getting a house.  The problem is that you don't know when the releases are.
 
Irvinecommuter said:
Realistically, there is no "priority list".  It's more of a courtesy list.  This is why you can never see the list or know where you are on the list.

Essentially, if you show up with  money in hand on the date of release, you have a good chance of getting a house.  The problem is that you don't know when the releases are.
Click to expand...

This is true. I was in Stonegate - Saratoga. They kept saying all Plan 1 homes are sold. I kept calling every now and then. One day they said, we are planning to release new homes this weekend. I called them up Friday morning, 1 day before release. They said the usual, "You are in our priority list. We will call people in their sequence and you will get a call from us based on your position". But then I turned up at the office just to check the price and locations. After a bit of talking, I was able to write a check and select a new home from the new releases...

So I learnt... the list is just a list for them to call. If they can sell it quick, they will.
 
So what you're telling me is to go to the sales office everyday with a check ready to go and I can bypass the "list".

Mon - I'm ready to buy? You ready to sell?
Tue - I'm ready to buy? You ready to sell?
Wed - I'm ready to buy? You ready to sell?
Thu - I'm ready to buy? You ready to sell?
Fri - I'm ready to buy? You ready to sell?
Sat - I'm ready to buy? You ready to sell?
Sun - I'm ready to buy? You ready to sell?

"I told you we would call you on the next release, you don't have to come in everyday"
"But I heard on the internet that I have to come in everyday to make sure you know I AM READY!"
"In fact, I'll just camp here until I get a house"
 
ZeroLot said:
Did you know that IP allows for the SAME buyer to buy multiple homes when it's their turn on the priority list??
Click to expand...

I specifically ask them this question.  They say they will not.  Only one pre qua one home.  Unless there is no one on the list after you...  then you can buy as many as you want.

 
studio said:
ZeroLot said:
Did you know that IP allows for the SAME buyer to buy multiple homes when it's their turn on the priority list??
Click to expand...

I specifically ask them this question.  They say they will not.  Only one pre qua one home.  Unless there is no one on the list after you...  then you can buy as many as you want.
Click to expand...

You didn't tip big enough.
 
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