Purchasing

How to Purchase a Home in Shelby Acres

It is projected that the open houses will begin in early summer of 2024. Phase 1, consisting of the first 21 homes being built, will be offered at a predetermined fixed price for each model that is well below building cost and at market value, and because of that OCDC (the Developer) anticipates that demand for homes in Shelby Acres will exceed supply. 

To manage the anticipated demand, OCDC has the following requirements: 

1. To become a prospective buyer and qualify to make a written offer, the prospective buyer must attend Shelby Acres approved buyer workshops covering: “Credit Report and Scores”, “Making a Monthly Spending and Savings Plan” and “Buying a Home”. 
2. Persons interested in purchasing a home must be pre-qualified from a mortgage lender. 
3. Down payment assistance will be made available to qualifying buyers. More information on this program follows on a later page. 
4. At a date, which will be later specified, written offers to purchase will be accepted. OCDC will divide these offers into three separate categories, one for each of the three styles or models, the buyer seeks to purchase. Potential buyers are required to apply for only one style of home. OCDC will then conduct a blind “lottery” for each of the three style homes. Winners will be randomly selected.