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Park District FAQ

About WaterColor:

The WaterColor community is located along the Gulf Coast of Northwest Florida. It is a 499 acre coastal resort and residential community.

Residents enjoy beautiful beaches, parks, and a variety of amenities and activities through the community. The 60 room WaterColor Inn faces the Gulf of Mexico and is also home to FOOW restaurant.


The Park District at WaterColor:

The Park District at WaterColor, consisting of only 41 lots, is the final neighborhood to be built in the WaterColor Community. The Park District lots will be rental restricted,making this the only rental-restricted neighborhood in the WaterColor community.

The Park District neighborhood is located in the area west of County Highway 395 South and north of West Lake Forest Drive, less than a 1/4 mile from the WaterColor Crossing Shopping Center and Publix Super Market.

The Offer Window for the first and second release of homesites has now closed. Should additional homesites become available, information will be posted on this page. Prior to submitting your offer, please read all of the Important Documents and information provided about the Park District lots. You will be required to confirm that you have done so when completing the offer form.

The Offer Window for the first and second release of homesites has now closed. Should additional homesites become available, information will be posted on this page. To continue to receive the most up to date details, you or your Florida-based real estate agent or representative should sign up for more information.


State Registrations:

If you reside in a state that requires us to be registered for real estate sales specifically in that state (Alaska, California, Colorado, Minnesota, Nevada, New Hampshire, New York, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, West Virginia), state law prohibits us from engaging in sales discussions directly with you while you are in your state of residence.

Yes, if you live in one of the closed states, you must be physically located in Florida in order to participate in the sales process for any of these lots.

If you are physically in Florida during the lot release, offer and contract signing process, we can communicate directly with you regarding a potential transaction. Likewise, if you are working with a local representative or local real estate agent, we can communicate with your representative, however, state law prohibits us from communicating directly with you while you are in your home state.


Purchasing a Park District Homesite:

The most up to date Information about the lots and the community can be found on our website. To continue to receive the most up to date details, you or your Florida-based real estate agent or representative should sign up for more information here.

The Offer Window for the first and second release of homesites has now closed. Should additional homesites become available, information will be posted on this page.The Park District lots will be sold directly by the developer through this website. The lots will not be listed with a local real estate broker nor will they be listed in MLS.

The Offer Window for the first and second release of homesites has now closed. Should additional homesites become available, information will be posted to the website. All site plans, contract documents and community documents are available on the Park District Information page in the Important Documents section, for your review and due diligence prior to the requirement to submit any offers. The offer period for the second release ended on 10/28/2020 at noon (Central).

Everyone, either directly or through their local representative or local real estate sales agent, is welcome to make an offer on the desired lot through the website. All offers will be considered, and the person making the selected offer will enter into a purchase and sale agreement for the lot.

The sales process for the Park District lots will be handled online through this website. First, please read all of the contract and community documents on the Information page.

The Offer Window for the first and second release of homesites has now closed. Should additional homesites become available, information will be posted to this website.


The release period will remain open for 48 hours. During this time, the Lot Offer page is activated.

As each release is announced, a Minimum Price Sheet will be provided.

When the Release Period closes, all offers will be reviewed and the highest offer received for each individual lot will enter into a purchase agreement.

You may submit offers for multiple lots. However, one form must be submitted per lot offer.

Due to the limited number of lots in the Park District at WaterColor, the number of lots that one person or entity can put under a purchase agreement will initially be limited to 1 lot per person or entity. However, based on the level of interest, there may be future opportunities to enter into purchase and sale agreements on multiple lots with one person or entity.

You should submit multiple offers in order of your preference for each lot, and if you are the highest offer on multiple lots, lot offers will be accepted in the order in which they are received. As an example, if you submit offers on Lots 1, 2, 18 and 19, in that order, and lots 1 and 18 are sold to other buyers, we will accept your offer on Lot 2

You will submit your contact information through the online offer form. We will contact you or your representative or agent via e-mail with the actual purchase agreement and next steps. You will have 24 hours to return the signed purchase and sale agreement and the earnest money deposit.

Everyone who submitted an offer will be notified as to the status of their offer.

If you are notified that your offer has not been accepted, you may have the opportunity, should you wish, to enter into a back up contract for the lot that you want. In addition, you can participate in the subsequent lot releases.

A back up contract is a binding purchase and sale agreement where the buyer agrees that they are not obligated to close on the lot until they are notified that the primary contract has been terminated. Back up offers will continue to be accepted after the Release Period. Any back up contract will be required to place a 10% deposit in escrow, which will be returned to the back up contract holder should the primary contract move forward with closing. Once the lot sale closes with the primary contract buyer, the back up contract is terminated and the deposit is returned. However, if, for any reason, the primary contract should not close or be terminated by either party, the back up contract holder will be notified that they are no longer the back up contract holder and will become the primary contract holder and will be expected to close on the purchase of the lot in accordance with the terms of the purchase and sale agreement.

Yes, however, in the instance of a company or LLC, the purchase agreement must be signed by an officer of the company or the managing member of the LLC. When completing the online offer form, please insert the full name of the LLC as your First Name and the full name of the authorized signor as your Last Name.

All Important Documents are available for review. The Release Period for the second phase of homesites opened on October 26, 2020 at Noon (Central). Back up offers and purchase and sale agreements will also be accepted during this time. We anticipate closings to occur in December, 2020.

The purchase and sale agreement calls for an earnest money deposit of 10% of the lot purchase price. You will be notified of the exact amount of deposit due at the time of signing the purchase and sale agreement. The earnest money deposit should be made by wire transfer at the time of signing the purchase and sale agreement.

Wiring instructions will be included with the contract documents. You will need to call the escrow agent as indicated on the wiring instructions to confirm the account. It is important that you also include a reference for the lot number with your wire so that the escrow agent can apply the deposit to your purchase agreement.


Additional Questions:

If you are working with a Florida-based Real Estate Agent or representative, your Agent or representative can submit the offer for a lot during the Release Period on your behalf. If the offer you authorize during the Release Period is accepted, Your Agent or representative will be the point of contact for receiving the purchase and sale agreement as well as coordinating with you to remit the earnest money deposit and the subsequent closing. At closing, the developer will pay a co-broker commission in the amount of 2.5% to your licensed real estate agent in accordance with generally accepted co-broker commission practices.

The lots will be under site development which is anticipated to be completed in Spring 2021. Safety is our primary concern and it will be too dangerous to allow public access to the site while under construction. Update videos will be posted on the website so that you can follow along with the progress of site development.

The legal requirements for closing a sale is that a plat must be recorded in the public records of Walton County, Florida. We anticipate this requirement will be met in November, 2020. Closing on the sale of the lot in advance of completion of the site infrastructure will give you the opportunity to begin the design of your new home, complete design review procedures, and submit for a building permit, so that once site development is completed, you can commence construction.

 
About The St. Joe Company:

The St. Joe Company is a Northwest Florida based real estate developer and asset manager. The Company focuses on thoughtfully planned destinations to live, work, play, shop, and vacation near the region's beautiful white sand beaches.