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LUXURY CLUB VILLAS – INITIAL LOT SELECTION DRAWING GUIDELINES

November 8, 2024

 

Thank you so much for your interest in the exciting release of Luxury Club Villas at Valencia Parc at Riverland®! These are the guidelines that will be used for your participation in the Virtual Lot Selection Drawing being held on Friday, November 8, 2024, at 9:00 AM, and broadcasted from the Valencia Riverland Sales office via Zoom. If you want to take advantage of this exciting opportunity, the policies and procedures below will apply to the Virtual Lot Selection Drawing. If you are interested in general sales and product information about Valencia Parc and you are not participating in the Virtual Lot Selection Drawing, please contact the sales office at (772) 226-9000.

In order to make the lot selection and reservation process run as smoothly as possible, we want to let you know about some of the policies and procedures that will be in place for the lot release. Please read all of the following to make sure you are familiar with how the virtual lot selection process will proceed on Friday morning.

  1. Priority Order Determined by Random Virtual Lot Selection Drawing. The order for buyers to purchase a villa will be established by a random Virtual Lot Selection Drawing that will be broadcast via Zoom beginning at 9:00 AM on Friday, November 8, 2024. Participants will be permitted to join the Zoom meeting as early as 8:50 AM.
  2. Pre-Registration for the Virtual Lot Selection Drawing. To be eligible to participate in the Virtual Lot Selection Drawing, a Pre-Registration will take place starting today until 5:00 PM on Wednesday, November 6th (2 days before the event). During the pre-registration period, it will be necessary for you to visit the Valencia Riverland sales office in person to deliver a reservation deposit check in the amount of Ten Thousand Dollars ($10,000.00) made payable to “Valencia Parc” and fill out the reservation paperwork that will be used at the drawing, which will include (a) a Reservation Deposit Form, (b) a Disclosure Summary for the Riverland Community Association, (c) a Disclosure Summary for Valencia Parc Homeowners Association, (d) a Deposit Receipt, and (e) a Receipt for Documents. If you cannot visit the sales center in person during the pre-registration period, please call us to make arrangements to have your reservation deposit check and paperwork delivered to us before the end of the pre-registration period.

A Zoom link will be provided to all participants whose pre-registration documents have been verified and the reservation deposit has been delivered to us. The Zoom link will be sent to the e-mail address provided on the Reservation Deposit Form.

Please be aware that the reservation deposit check must be from an account in the actual name of the buyer purchasing a lot (NO THIRD-PARTY CHECKS OR CREDIT CARDS WILL BE ACCEPTED - including payments from trust accounts, company accounts, in trust for or other non-personal accounts). The reservation deposit will be fully refundable if you do not reserve a lot or do not subsequently enter into a contract for the purchase of a villa for any reason.

  1. Virtual Lot Selection Drawing and Process. At 8:50 AM on Friday, November 8th, pre-registered buyers will be allowed into the Zoom Meeting to view the Virtual Lot Selection Drawing. At 9:00 AM, the Virtual Lot Selection Drawing will begin to establish the priority order for buyers to purchase a villa in Valencia Parc. At that time, a random drawing of names will take place from all potential buyers who timely and properly pre-registered as described above. Once the priority order for buyers has been established, your sales agent will call you on the phone number provided on your Reservation Deposit Form. You will have up to five (5) minutes to ask any questions and select an available lot and villa.
  2. Unable to Virtually Attend. If for any reason you are unable to virtually attend the Virtual Lot Selection Drawing on Friday, November 8th , you may provide a name and phone number of a representative to virtually attend in your place. However, we must have timely received in our office your $10,000 reservation deposit check and your fully completed reservation paperwork during the pre-registration period (i.e., prior to 5:00 PM on Wednesday, November 6, 2024). Your representative must also be prepared to make your lot and villa selections on your behalf. If you are represented by a broker, your broker may act as your lot selection representative, however, a broker may only act as a lot selection representative for one buyer at the drawing.
  3. One Drawing Spot Per Immediate Family. Lot drawing spots are not transferrable so whatever number is given out to a buyer, the persons/couple with that selection number are the only ones that will have the opportunity to go to reservation and contract. Only one lot drawing spot per immediate family will be given out. If it is determined that any person or immediate family received more than one number for the drawing, their entries will be cancelled.
  4. Contract Execution. After you have reserved a villa and lot, your sales associate will provide you with the Purchase Contract via DocuSign and links to the homeowners association documents, so you will have an opportunity to review and become familiar with them prior to your execution of the Purchase Contract, including, without limitation, the provisions regarding the NO INVESTOR POLICY described below. The Purchase Contract must be executed though DocuSign within 3 days of the Virtual Lot Selection Drawing. A deposit of ten percent (10%) of the total purchase price (base house price plus lot premium), less the $10,000 reservation deposit, will be required to be paid at the time of or prior to the execution of the Purchase Contract. Your sales associate will provide you with wiring instructions should you prefer to deliver the 10% deposit via wire transfer. Please be aware that additional monies will be required to be paid at the time of selection of options and upgrades in accordance with the Purchase Contract. If you do not have access to an electronic device to execute the Purchase Contract via DocuSign, please call us to make arrangements to schedule a contract signing appointment within 3 days of the Virtual Lot Selection Drawing.
  5. Brokers. If you are being represented by a broker, your broker must have accompanied you at your first visit and completed a Broker Registration Form or they will not be recognized as your broker. The broker will also be required to enter into a Broker Participation Agreement with us at the time of execution of your Purchase Contract. Brokers interested in purchasing a lot for themselves, may do so, but may only purchase one lot and must otherwise abide by all of the above procedures like any other buyer.
  6. No Investor Policy. A No Investor Policy will be implemented for the Luxury Club Villa product at Valencia Parc. Therefore, you may only purchase one lot in Valencia Parc, and you must intend to purchase the villa as your primary residence in Florida (but it does not necessarily need to be your primary residence). The Purchase Contract is not assignable or transferrable. The Reservation Deposit Form and Purchase Contract will require you to make certain representations regarding your purchase and will contain certain agreements to limit your ability to list or advertise the villa for sale prior to closing. In addition, in the event you sell the villa within one (1) year after closing, 100% of the gain realized from such sale shall be paid to the Seller from the proceeds of such sale, except for a sale resulting from a hardship event that is documented and approved in writing by Seller (i.e., divorce, job transfer out of the area, or other reason acceptable to Seller). Any breach will be considered a default under the Purchase Contract which will provide the Seller with the right to terminate the Purchase Contract and retain all deposits and other monies paid by you. These restrictions and obligations will be contained in a deed restriction recorded at closing. A summary of the No Investor Policy is included with the reservation documents.

If you have any questions not answered here, please feel free to contact the sales office at (772) 226-9000 to speak with a Sales Associate. We look forward to seeing you during Pre-Registration and virtually at the Lot Selection Drawing on Friday, November 8, 2024!