U
/u/-ST4K-
Guest
I'm breaking ground this Monday on my first home build under my new start up company for spec home construction. (I'm very nervous but very excited.)
The plan currently is to build it and then list it for sale once it's finished and staged and looking its best.
I know that some builders list the house mid construction and I'm wondering how that works on the financing side. Would closing be delayed until the house is finished with construction and passes final occupancy inspections or could they take over the construction loan and free me up somehow? What financial benefits are there to me trying to sell it before finishing?
I currently have a construction loan for the project in my business's name and am the sole investor providing liquify for this project. Would getting a buyer involved help my liquidity at all or am I better off just waiting till I finish and list it then as originally planned?
Again this is my first new build. So as a beginner I'm asking the experts here to make sure there's not something I'm missing or should be considering.
Thanks!
submitted by /u/-ST4K-
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Selling a house mid construction
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The plan currently is to build it and then list it for sale once it's finished and staged and looking its best.
I know that some builders list the house mid construction and I'm wondering how that works on the financing side. Would closing be delayed until the house is finished with construction and passes final occupancy inspections or could they take over the construction loan and free me up somehow? What financial benefits are there to me trying to sell it before finishing?
I currently have a construction loan for the project in my business's name and am the sole investor providing liquify for this project. Would getting a buyer involved help my liquidity at all or am I better off just waiting till I finish and list it then as originally planned?
Again this is my first new build. So as a beginner I'm asking the experts here to make sure there's not something I'm missing or should be considering.
Thanks!
submitted by /u/-ST4K-
[link] [comments]
Selling a house mid construction
Continue reading...