I’ve Reserved My Nabr Home! Now What?

A timeline of what to expect, from now until move-in.

So, you’ve just reserved your Nabr home. First of all — congratulations! You’re on your way to owning an amazing new home, and we’re so excited to be on this journey with you. Now let’s talk about what’s coming up in the future.

Early 2023 — Consult and Commit

Nabr’s first building is slated to break ground in early 2023. Before you sign your final contract, we’ll send you a 3D model of your home with upgrades applied — and we’ll connect you with a Design Advisor to finalize your selection. At that time, you’ll be able to reserve your upgrade selections with a 20% deposit; designer packages will require a higher percentage deposit.)

Depending on how you’re paying for your Nabr home, we’ll also ask for different kinds of financial documentation and payments.

• Mortgage — Sign a contract for your home (a “Purchase & Sale Agreement,” or “PSA” for short). Submit a non-refundable deposit (3% of your home purchase price). Obtain and submit a conditional loan approval: at this stage, your lender will request and verify documents confirming your income and assets, and conduct a hard credit check).
• All cash — Sign a contract for your home (a “Purchase & Sales Agreement”). Submit a non-refundable deposit (3% of your unit purchase price). Re-submit a proof of funds. We may request third-party verification of assets at this stage.
• Leap (Nabr’s lease-to-purchase program, more info here)—Finalize your Leap terms: your locked-in home price and the Leap option period. Sign a purchase option agreement. Submit a portion of your purchase deposit (1%-3% of your unit purchase price). Complete a full rental application with a third party to confirm your income and assets.

Late 2023 — Finalize your upgrades

Approximately one year before construction completion, you’ll have one more check-in with your Design Advisor. You can review any new upgrades that have been released and add them to your home, and you’ll be asked to submit a larger upgrade deposit so that we can begin building the interior of your home just as you imagined it.

Late 2024 — Closing and move-in

As construction wraps up, it’s time for closing. The exact next steps will depend on whether you’re paying with a mortgage, cash, or Leap:

• Mortgage—Lock in your interest rate, finalize loan approval and submit the down payment and closing costs to an escrow company.
• All cash—Transfer funds to Nabr through an escrow account.
• Leap—Sign your lease agreement and submit the remainder of your Purchase Deposit.

Once all parties to the transaction have signed-off, you’ve conducted a walkthrough of your new home, and the transaction is closed — and you will become the proud owner of your Nabr home! That’s when you can move in, and the celebrations really begin. May we suggest a BBQ bash on your beautiful new Nabr terrace?

We know that buying a home can be daunting, but remember, we’re just a chat, video call, or meeting away. We’ll support you at every step — until you’re living in the home you love.

Check out our next blog post: “What is Leap—and is it right for me?”