Please click on the map in order to see the location of Terra Residential, Floresti
2. What is the price range?
Prices vary with lot sizes and market conditions. Please use the following link to find current lot pricing on available lot. Note that we update our website each morning for sales and reservation activity from the prior day, and therefore, may not reflect pending activity. Please contact one of our sales representatives for the latest information
3. Can I pay in Euros?
No, Romanian regulations require that financial transactions to be denominated in Romanian Lei (RON). Since our lot and home pricing is in Euros, the actual amount due will be calculated based on the current exchange rate as stated by the National Bank of Romania http://www.bnro.ro/def_en.htm 2 days prior to the date of payment. We will contact you with the exact amount.
4. Does the price include VAT?
Our current lot pricing schedule provides pricing before and after VAT
5. How close is the neighborhood to shopping?
All neighborhoods are located within a reasonable distance to shopping centers such as Metro, Praktiker and Polus Mall.
6. What is the payment schedule for purchasing a lot?
There is a €500 nonrefundable fee to reserve a lot (this payment can be applied to your initial down payment of 30% of the purchase price - including VAT). The remaining 70% is due at closing. Please see the “Getting Started” section for more information on the payment schedules for lots and home/ lot packages
7. What if I miss a scheduled payment?
If we don’t receive a customer’s down payment by the agreed upon date, the lot reservation will be cancelled and the reservation fee will be forfeited by the customer. This reservation fee can be applied to a future reservation if made within 4 weeks.
If the customer is unable to pay for the lot on closing date agreed to, the customer will forfeit their down payment.
To minimize the possibility of a payment not being made, the company will generally require some evidence of the availability of funds four weeks prior to closing (for example evidence of pre approval from your bank).
8. Where/ how can I obtain a loan?
Many banks and other lending institutions now offer competitive mortgage loans. We encourage our customers to seek out the best source of financing to meet their individual needs. Each bank will generally have their own loan application process. The information that is generally required include you personal banking information, a listing of assets and loans or other debts (including monthly payment requirements) and salary information. We suggest that you call your bank to understand what specific information they will require to begin your loan application process.
During your search, we suggest that you include the Cluj-Napoca branch of Banc
Post. Terra Progressio has been working with representatives at Bank Post
to offer competitive mortgages to qualifying customers. Banc Post has been
involved with providing financing for the development of the Sesul de Sus
neighborhood and is very familiar with the economics of the project and eager
to assist you. Please contact a Loan Officer at Banc Post for further information
and schedule an appointment.
9. What is included in the price of the lot?
Please see a description of what is included in the purchase price of each
lot using one of the following link: Terra
Residential Neighborhood lot description
10. What is included in the price of the home?
Please see a description of what is included in the purchase price of a house
using one of the following link: house
description
11. How do I reserve a lot?
Contact one of our sales associates. They eager to help you place a reservation.
12. Who is reponsible for the cost of sidewalks, driveways, landscaping?
The customer is responsible for the cost of all driveways, walkways and landscaping
which must be completed within one year from the date of closing. This one
year requirement was established to assure that all homeowners in the neighborhood
are using the same reasonable standard.
13. How far is the Terra Residential Neighborhood from downtown Cluj?
Approximately 7km or 10 minutes. the
map
14. Will there be any additional lots added to the Terra Residential
Neighborhood?
There are no current plans to expand the current neighborhood.
15. Will lot/ home prices change?
Yes. Our construction costs for both material and labor have continued to
increase over time – and we expect them to continue to increase in the
future. We obviously take cost increases seriously and do all in our power
to keep our costs as low as possible. The market price for land has also continued
to increase. The pricing on our lots is subject to change without notice.
16. Are there any other Terra Progressio neighborhoods where I could
buy a lot/ home?
Not at the current time – b ut keep visiting our website for information
on future developments.
17. Are there examples of your work that I could look at?
Yes, we currently have several houses under construction in the Sesul de Sus
neighborhood. You are welcome to stop by and take a look. Please contact one
of our sales representatives for a tour of the homes.
18. Can I modify the architects plan for one the model homes?
Not at this time – but it may be possible in the future.
19. If I buy a lot now - can I sell it if I decide not to build a
house?
Yes, once you own the lot, you can choose to build on it or to sell it later.
20. What are the customer’s responsibilities?
- Making scheduled payments and closing on time
- Complete home construction within 12 months of breaking ground
- Landscaping, driveway and walkways within one year of occupancy
- Understanding and following the neighborhood rules
