Buying-In
Membership in Sweet Pond Eco Community is by self-selection but we do wish to lay out some guidelines. Review our website and learn about the project, ask any questions you may have or for more information. If you think this might be the place for you, let us know! The next step is coming out to Guilford and seeing just how beautiful it is in person. You can schedule a tour or take one at our open houses which we will be holding at least every month. Come to an open house and meet other interested and committed members. At this point if you are interested in moving forward there will be a small refundable deposit reserve your unit. Once this is made you should contact your lender to obtain financing. We are looking to organize a stream-lined mortgage process for community members with a local bank but you would of course be able to use your lender of choice or self-fund your purchase. During this time you and your attorney should review our community documents such as the Declaration of Condominium, Bylaws, Public Offering Statement, and any decisions made to date and be comfortable with them. The next step is to sign a purchase and sale agreement and make a down payment on the home you have reserved. The final closing on your unit will be when the home is completed and approved for occupancy.
We expect the homes price to fall between $440k and $460k. We are still waiting on some estimates which may adjust the price and the costs may go down when the construction goes out to bid. Depending on how many units are constructed simultaneously we may gain efficiencies and cost savings. This price includes construction of the home, membership in the community, and an equal undifferentiated share of approximately 83 acres including the orchard, gardens, pond, marsh, and woodlands.
Our legal documents are in the final review stage and will be posted as soon as we get the go-ahead. The above procedure is the plan to date but at this time is still subject to change. The purchase of a unit provides for a single family home, exclusive use of the land it is on, and an equal undifferentiated share of Sweet Pond Eco Community which will own and maintain the land and common elements. Homes are being designed to qualify for a traditional mortgage.