There are two choices when building in the Meadowlands. One is buying in a Builder Community and the other is buying in a Lot Community.
A ”Builder Community” is a development where the builders (Community Builders) who are building in the Builder Community have the right to purchase all of the lots. The Community Builders have committed to list all of their homes which are custom built and speculative built in the Builder Community with Coldwell Banker Triad, Realtors.
A buyer may only “reserve” a lot in a Builder Community. During the reservation period (typically 30 days), the buyer has the right to select one of the Community Builders, finalize the plans, the specifications, the pricing of the home to be built and enter into a contract for the construction of the home. The buyer may terminate the reservation agreement at any time, for any reason, and receive a full refund of the lot reservation deposit.
A lot in a Builder Community may only be purchased by Community Builders.
A “Lot Community” is a development where all of the lots are listed and marketed by Coldwell Banker Triad, Realtors. Anyone, individuals as well as builders, can purchase a lot in a Lot Community. The buyer does not have a required time to begin construction on the lot. The buyer may use any builder to build the home on the lot in accordance with the restrictive covenants of the Lot Community. The buyer may keep the lot and sell it later.