St. Andrews East is different from other developers in the way we finance our new construction. We do not require our new home buyers to obtain a construction loan that may carry higher interest rates than a standard mortgage. Construction loans have also become very difficult to obtain in today’s financial climate.
St. Andrews East simply requires a deposit of 10% on all new villas or new patio homes and a deposit of 20% on our new estate homes, the remaining balance is not due until closing when the construction is complete. Because St. Andrews East is a financially stable developer, we provide our new home buyers the convenience of avoiding the hassles traditionally associated with construction loans such as completion draws and inspections from the lender that may slow the progress of building.
St. Andrews East uses the established Law firm of Williams, Parker, Harrison, Dietz & Getzen who maintain our escrow accounts and all closing procedures including title insurance making the process smooth.