Reserve Your Home at Polestar Village
We're Delighted to Offer Single Family Lots & Multifamily Home Reservations!
Single Family Lot Purchase Process
Here’s how it works:
1. Choose a single family lot; see picture.
2. Complete Right of First Offer (SF-ROFO) agreement.
- Pay the reservation price (SF-ROFO Loan). Reservation price is 10% of the cost of the lot.
- The ROFO loan is a fully refundable deposit with 5% interest accrued after 1 year.
- Polestar agrees to deliver a paper lot within 2 years of SF-ROFO agreement.
- Polestar completes the creation of the “paper lot”.
3. Complete the Purchase & Sale Agreement (SF-PSA). This grants you ownership/title of a “Paper Lot.”
- Pay SF-PSA purchase price which includes advance payment for finished lot to complete infrastructure. ROFO loan is applied to PSA purchase price & retired.
- Polestar agrees to provide a finished lot within 2 years of SF-PSA, after which buyer receives title to finished lot.
- If Polestar is unable to deliver a finished lot within 2 years, Polestar agrees to purchase the lot from the Buyer. Polestar will pay the SF-PSA purchase price with 5% accrued interest within one year
Multifamily Home Reservation Process
In order to finance construction for multifamily units and secure your investment, we have created Polestar Founders LLC.
Here’s how it works:
- Choose a multi-family home.
- Complete Right of First Offer (MF-ROFO) agreement.
- Pay the reservation price (MF-ROFO Loan) as listed on website.
- The MF-ROFO loan is a fully refundable deposit.
- Polestar agrees to complete “paper lots” (Final Governmental Approval) within 2 years of MF-ROFO agreement.
- When paper lots are complete, purchase Member Interest (stock) in Polestar Founders LLC and complete the reservation process.
- When your unit is completed, Polestar will buy back your member interest and apply it towards the purchase price of your home.
