Please read our FAQs for any questions you may have about Prism and Dividend Homes. If you need additional information please contact us.
The Prism community consists of 62 attached residential townhomes and associated common areas and open spaces. It is currently anticipated that the Prism community will be developed in two major construction phases. The first phase of construction consists of 34 homes and the second phase consists of 28 homes and common areas. Approvals from the California Department of Real Estate (DRE) for the Prism development will also be processed in two phases, with Lots 16-33 and 47-62 of Tract Map No. 10483 comprising DRE Phase 1, and Lots 1-15 and 34-46, as well as common area Lots A, B, & C comprising DRE Phase 2.
The homes that are completed and have pre-selected options and upgrades already installed can close within a month or less from when the purchase contract is signed. For those homes that are not yet completed, Buyers may select their own options and upgrades, with closings typically occurring 3 to 5 months from the date the purchase contract is signed.
Yes. To be eligible to purchase a home, you must be pre-approved by one of our preferred lenders. Our preferred Lenders are:
Yes, however, we require a pre-approval from one of our preferred lenders to purchase a home.
There is a sales process that has been established. For more details, please contact the community Sales Representative.
The initial earnest money deposit at time of contract is 3% of the purchase price. If you do select any upgrades, a deposit of 50% of the total cost of these upgrades is required at the time of the order, with the balance due upon the residence’s completion.
here are a total of 34 guest parking, 2 of which are designated for handicap parking. These spaces are not assigned and are to be available primarily for guests, on a first-come, first-serve basis. Residents are to park within their garages. Parking within Agave Terrace, the private interior street within the Prism community, is prohibited. Please refer to the Prism CC&Rs for further details regarding parking restrictions.
The model homes will not be sold until the entire community is sold out. Once the community is sold out the model homes will be released.
The model homes showcase a combination of standard, upgraded, and designer features and finishes. A list of the upgraded materials used in the models can be found on the kitchen counter of each model home. Please refer to the Standard Features List which can be found on the website or consult with your Sales Representative for further details.
Prism is in the Sunnyvale School District and Fremont Union High School District. The District advises that children residing at Prism are currently assigned to attend the following schools:
For those homes located in DRE Phase 1, HOA dues are currently estimated at $248.50 per Lot per month. Following the first close of escrow in DRE Phase 2, the HOA dues are estimated to be approximately $366.25 per Lot per month. Prior to project completion, the dues are based on the number of homes then included in the HOA and the amenities that have been completed and turned over to the HOA.
The HOA dues cover all costs of owning and maintaining the project common area, including common area landscape, private streets, HOA insurance, reserves, property damage insurance including “walls-in” (refer to section 8.3 of the Prism Declaration of Restrictions (“CC&Rs”) for specifics regarding the Association’s Property Insurance), and partial maintenance of the home exteriors and roof. A full breakdown of the HOA maintenance responsibility is listed in the Prism CC&Rs. Please refer to Article IV and Exhibit B to the CC&Rs for further detail.
Each home has its own separate water meter, so you pay for only the water you use. There is a master meter for the community that the City of Sunnyvale will read and bill the HOA accordingly. A third-party will come out and read the individual water meters that are installed in each home. The third-party will issue a bill directly to the homeowner for their actual water usage (plus meter reading fees). The third-party will then send collected funds to the HOA. In the event a homeowner defaults on payment to the third-party, then the HOA may take appropriate actions of collecting from the homeowner.
The broker referral fee is 2.5%. The broker/agent must accompany their client on their first visit to the community sales office in order to receive a referral fee. At the time of the potential buyer’s first visit to the sales office, the broker/agent must fill out the Broker/Agent Registration Form. This registration form will be kept on file and validates that the broker/agent has registered the buyer as their client. Note: If the buyer has visited the sales office prior to the broker/agent’s first visit with them, the broker/agent will not be allowed to register this buyer as their client.
