Most new homes are sold by lotteries here in Oahu. It’s up to the developer to decide if the new homes for sale will be first come, first serve or held by a lottery. The reason there are lotteries is, people use to camp out days before a new home release when it was first come, first serve. This was a disturbance to residents in the neighborhood. People who camped would pitch tents, have BBQs, and play music through the night.
NorthPark Lottery Process
So how does the lottery work at NorthPark? An owner affidavit and pre-qualification letter would need to be submitted to the sales office before the cutoff date for the lottery. The owner affidavit will need to be notarized. This document is stating you’re going to live in the home for at least a year. After the year, you can sell, rent, or keep the home. On the day of the lottery, the sales agent will draw names from a bag or bowl. As they draw names, that’s the order in which a prospective homebuyer will be able to select a home.
For example, if your name is called third, you would be the third person to select an available home that is on the price list. Lotteries are now closed events, and the sales office will email you the number in which your name was drawn.
Day of the Lottery
On the day of the lottery, stay close to your phone. The sales agent will be calling if your name is drawn towards the beginning. You’ll have 5 minutes to respond with your home selection. If you do not return the phone call within 5 minutes of the voice message, your name will be placed at the bottom of the back-up list.
If you would like more information on NorthPark, are interested in touring the model homes or would like to participate in the next lottery, please reach out. If you would like to see other homes on the market or stay current with the Real Estate Market in Oahu, please visit my YouTube channel. New videos are posted weekly. I’m Fawn Bertram with Homes by Fawn. I’m here to provide you with a smarter approach to real estate. Make it a great home buying and selling day.