Are you eyeing a home in Deer Valley’s newest base area and wondering how to secure it before everyone else? Preconstruction opportunities can be rewarding, but the paperwork, timelines, and deposit rules are different from a typical resale. With the right plan, you can reserve confidently and protect your interests while the village takes shape. In this guide, you’ll learn how reservations work at Deer Valley East Village, what to verify in the contract, and the due diligence steps that help you buy smart. Let’s dive in.

East Village at a glance

Deer Valley’s East Village is part of a multi‑year expansion that adds a modern base, new lifts and gondola capacity, and a pedestrian village with residences, hotels, and commercial space. The official project overview describes a long‑range, phased buildout with thousands of added terrain acres and a significant hospitality and residential program. You can explore the high‑level vision on the resort’s site for Expanded Excellence.

Buyers will see visible momentum and announcements across phases. The resort’s press materials highlight multiple new lifts and a high‑capacity East Village gondola connecting expanded terrain and the base area. Review the resort’s East Village announcement for scope and infrastructure context.

Recent product news includes hospitality openings and launches. Local reporting notes that the Grand Hyatt Deer Valley debuted as the first hotel in late 2024 and that an early condominium offering was introduced shortly after. Learn more from the Park Record’s coverage of initial condo sales activity. In December 2024, Four Seasons Resort & Private Residences was also announced, with interest and reservations following; see Four Seasons press coverage for details.

The key takeaway: East Village is real and progressing, but it is phased. Delivery targets vary by building and are presented as goals in marketing, not guarantees in a purchase contract. Plan for variation and confirm remedies in writing.

Reservation to closing: how it typically works

While each building sets its own terms, most East Village offerings follow a common preconstruction pattern. Expect these steps, then verify the exact amounts and deadlines in the developer’s documents.

Step A: Reservation

You place a modest reservation deposit to hold a specific unit and secure your spot in the sales sequence. Projects often provide a short window to move from reservation to a formal Purchase and Sale Agreement. Reservation deposits are commonly a few thousand to tens of thousands of dollars, but amounts vary by project.

Step B: Contract and earnest money

During the reservation window, you receive the Purchase and Sale Agreement. After you sign, the earnest money schedule begins. Luxury projects often require staged deposits that could total into the low‑to‑mid double digits percentage‑wise before closing. Always request the full deposit schedule in writing.

Step C: Design selections

After you go under contract, the developer will schedule design and finish selections. Contracts outline deadlines, allowances, and upgrade pricing rules. Missing a deadline usually defaults you to a standard package. Get dates, allowances, and any late‑selection fees in writing up front.

Step D: Construction and payment timing

For most condominium or condo‑hotel buildings, remaining funds are due at closing. The developer typically carries construction financing. Custom homes or estate lots can involve construction draws or separate construction financing, which require a different lending setup.

Step E: Closing and occupancy

Closing occurs after final approvals and a certificate of occupancy. Some projects may allow temporary or interim occupancy before legal closing. If interim occupancy is offered, confirm who pays utilities and dues during that period, and what fees apply. For a primer on preconstruction occupancy mechanics, see this overview of preconstruction investing and interim occupancy concepts.

Protect your deposit and your rights in Utah

Utah regulates sales of large subdivided offerings. If East Village inventory is sold under those rules, you should receive a public offering statement and clear escrow protections for buyer funds, especially if a temporary sales permit is used during registration. The Utah Division of Real Estate outlines registration requirements and escrow controls on its Land Sales page.

Utah law also provides a limited rescission window for certain covered contracts. In many large, multi‑phase offerings, a five‑day statutory right to cancel applies after signing. The law requires clear notice language in the contract. Review the timing and applicability with your advisor, and see the statute summary for Utah Code §57‑11‑5.

Practical tips:

• Confirm in writing where your reservation and earnest funds are held, the escrow instructions, refund triggers, and whether release requires closing or specified milestones.
• Ask for the public offering statement as early as possible and sign the receipt acknowledging delivery. Track any deadlines it triggers.
• If a temporary permit is used, request evidence that deposits sit in an independent escrow account with restricted release instructions.

Contract terms to confirm in writing

Before you sign, secure clear, written answers on these items. Your local attorney should review the final language.

• Completion date and delay remedies. Does the PSA set a date or window? What are the remedies if delivery slips: objective extensions, liquidated damages, or a termination right? Avoid open‑ended extensions without measurable milestones.
• Deposit protections and escrow. Where is your deposit held, under what conditions is it refundable, and when can funds be released? Request objective release triggers tied to permits, registration, or closing.
• Public offering statement and registration status. Confirm that you will receive the current statement with any amendments. It should disclose unit counts, easements, amenities, phasing, and governance.
• HOA governance, budget, and reserves. Review the draft CC&Rs, bylaws, rules, initial budget, and any reserve study. Verify how amenities are funded during developer control and how control transitions to owners.
• Rental rules and operator agreements. For branded residences and condo‑hotels, request the draft management agreement and HOA rental policies. Understand owner use limits, program rules, and fees before you assume rental income.
• Assignment rights. If you may assign the contract before closing, confirm whether it is permitted, what approvals are needed, and any fees.
• Warranties. Ask for the builder’s warranty document and claims process. Many new builds follow a 1‑year workmanship, 2‑year systems, and up to 10‑year structural pattern. For a general overview of common warranty structures, see this guide to new‑home warranty norms.

Negotiation levers that are often productive:

• Stronger escrow instructions that release deposits only on closing or named milestones.
• Clear delivery milestones and a finite list of acceptable extension events.
• A right to terminate, with refund, if listed permits or registrations are not obtained by a specific date.
• Written allowances and an itemized price list for upgrades, with deadlines you can calendar.

Due diligence checklist for East Village buyers

Gather these documents as soon as you reserve, and have your local team review each item. Early clarity helps you avoid surprises later.

1. Public offering statement and registration status. Required for many large subdivided projects; it discloses the project structure, amenities, and governance. See Utah’s Land Sales guidance.
2. Draft or recorded plat and legal descriptions. Verify unit boundaries, parking and storage allocations, and shared easements. Utah law outlines required disclosures for covered offerings; see a statutory overview on public offering statement content.
3. Draft CC&Rs, bylaws, rules, initial budget, and any reserve study. Confirm dues, cost‑sharing, amenity management, and reserve adequacy.
4. Escrow confirmation. Get the name of the title or escrow company and written escrow instructions for deposits. If a temporary permit is used, request evidence of independent escrow controls as required.
5. Standard inclusions, design schedule, and upgrade pricing policy. Calendar selection deadlines and obtain written allowances to prevent surprise charges.
6. Permits and approvals. Request building permits, conditional‑use approvals, and any required environmental or biological reports. The official project channels outline the scope of infrastructure; review the resort’s East Village announcement for context and then confirm permit status at the project level.
7. Construction financing disclosures or a developer financing summary. This helps you gauge completion risk and lender requirements.
8. Hotel or operator agreements for branded residences. These documents govern rental programs, fees, and owner access. For product context, see Four Seasons’ local announcement coverage.
9. Insurance and warranty statements. Confirm what is covered during construction versus after closing. For common patterns, review a primer on new‑home warranty coverage.
10. Parcel jurisdiction and rental licensing rules. East Village spans a corridor where municipal boundaries and county rules can vary by parcel. If nightly rental is part of your plan and the parcel is within Park City limits, review the city’s Nightly Rental License and inspection guide.

Rental and jurisdiction questions to settle early

Do not assume every East Village parcel follows the same municipal rules. The area sits along the Jordanelle and US‑40 corridor, and parcels may fall under different jurisdictions. That can affect permitting, utilities, tax assessments, and nightly rental rules.

If you plan to rent your residence nightly, two approvals typically matter: zoning and HOA or operator rules. Even if zoning allows short‑term rentals, your HOA or a hotel operator agreement may impose restrictions, fees, or mandatory rental programs. If the property is within Park City limits, owners who rent nightly are subject to the city’s licensing, inspection, and compliance requirements. You can review the official Park City nightly rental guide and then confirm whether your specific parcel falls under those rules.

Timeline and team: a practical game plan

Here is a simple, buyer‑friendly timeline you can adapt to the specific building and contract you select:

• Days 0 to 14: Place the reservation deposit. Immediately request the public offering statement, escrow instructions, draft PSA, CC&Rs, and budget. Confirm whether a temporary permit and independent escrow are in use. Utah’s Division of Real Estate explains these frameworks on its Land Sales page.
• Days 3 to 30: Legal and financial review. Your attorney reviews the PSA, public offering statement, CC&Rs, and escrow terms. If the five‑day rescission right applies, calendar the deadline exactly as written in Utah Code §57‑11‑5. Secure lender pre‑approval if financing.
• Days 30 to 120: Deposit installments and design selections. Make scheduled deposits per the contract. Complete design meetings, confirm allowances, and submit upgrade payments if required.
• Construction phase: Monitor developer updates, milestones, and delivery windows. If interim occupancy is offered before final closing, clarify fees and responsibility for utilities and dues.
• Final stage: Certificate of occupancy, closing, and recording. The title and escrow company coordinates prorations and recording, and you obtain owner’s title insurance at closing. For a quick look at closing logistics, see this Utah closing and escrow summary.

Who to engage early:

• A buyer’s agent with East Village experience who can source documents quickly, coordinate design timelines, and track jurisdictional details.
• A Utah‑licensed real estate attorney familiar with subdivided‑land registrations, condo‑hotel agreements, and local disclosures.
• A lender versed in condo and resort underwriting, plus construction‑to‑perm options if you are building.
• A local title and escrow company to confirm how funds are held and released.
• A property manager if you plan to rent, especially for branded or operator‑managed residences.
• An interior designer or architect if upgrades are substantial.

Bottom line for reservation‑ready buyers

Preconstruction in Deer Valley East Village rewards preparation. Secure your spot with a reservation, but do not wire a dollar until you have written escrow instructions and the public offering statement in hand. Treat marketing timelines as goals rather than guarantees, and negotiate for objective delivery milestones and deposit protections where you can. With a clear checklist and the right team, you can capture the opportunity while minimizing surprises.

Ready to evaluate specific buildings, compare contracts, and set a reservation strategy that fits your goals? Connect with Josh Chapel to get local, boutique guidance backed by modern marketing and national brokerage resources.

FAQs

How do preconstruction reservations at Deer Valley East Village usually work?

• Most projects follow a sequence: reservation deposit, PSA and staged earnest money, design selections, construction, then closing or interim occupancy. Exact amounts and deadlines vary by building.

What Utah buyer protections apply to large, phased offerings?

• When registration rules apply, you should receive a public offering statement and may have a five‑day statutory right to rescind. Independent escrow for deposits is required if a temporary sales permit is used.

Are advertised completion dates guaranteed for East Village homes?

• No. Delivery windows in marketing are targets. Your PSA should state objective remedies if delays occur, such as finite extensions, damages, or a termination right.

Where should my reservation and earnest deposits be held?

• Standard practice is a neutral title or escrow account with written release conditions. Ask for escrow instructions that release funds only on closing or named milestones.

Can I rent my East Village home nightly after closing?

• Possibly, but it depends on the parcel’s jurisdiction and the HOA or operator rules. If within Park City limits, you must follow the city’s nightly rental licensing and inspection process.