Holds and Sales
(Accessed from the Hold and Purchase Request map option)
Lot draws allow the developer to assign lots to builders, while the the Hold and Sale process allows builders to purchase individual lots directly from LotWorks.
Holding a Lot
- Only Available (green) lots may be placed on hold by builders.
- Home Buyer information and a scan or faxed copy of a deposit cheque is required.
- LotWorks reserves the right to reject/remove the hold.
To Hold a Lot
- Click on an available lot from the lot map, and select “Hold Lot”.
- Enter Home Buyer information by clicking “Edit” next to Home Buyer 1 and Home Buyer 2.
- Attach an image or PDF of the customer’s deposit cheque.
- Alternately, Click “Print Form” to open the Hold Request Form in a new window. Once you have the Home Buyer’s deposit cheque, you may fax this form to LotWorks.
- Click “Submit Lot Hold” to submit your hold on this lot.
- LotWorks will respond with a confirmation or rejection notification.
Unless a lot is purchased, Lot Holds will expire automatically after 21 days. LotWorks has the ability to edit this expiry date using the Edit Expiry Date button found on the Lot Map and Lot Details pages. Edits to the expiry date are tracked in the hold details.
The builder will be sent a reminder notification 48 hours prior to expiry.
The Hold Policy document can be uploaded to Global Settings (Options -> Admin).
A link will be displayed on the hold request form.
Purchasing a Lot
(Accessed from the Purchase Lot map option)
On occasion a builder may wish to purchase a single lot. Purchasing a lot follows the same process as holding a lot, except that Spec/Showhome is available as an option rather than adding a home buyer.
Once a purchase request is submitted, it will be reviewed by LotWorks before being approved or rejected. Upon approval, a single lot purchase agreement is generated with all lot details and dates. LotWorks allows for this step to be skipped in cases where the agreement will be generated manually. The agreement generation process follows the same flow as the bulk lot draw agreement:
- Lot Details - Rates & Dates
- PDF Preview & overrides
- Submit & Notifications