Once I find property to build on and have a mortgage approved, what are my next steps?

Question

Do I find a surveyor? or find a builder?help!

Answer 1

Pick a floor plan, and get a set of prints drawn up. No matter what steps you take, as far as building the house goes, anyone you hire to build it or sub it out to is going to need prints to bid the job, do material take-offs,etc. Once you have the prints, find three reputable builders to bid the job, make draw arrangements, etc. Then you pick the one you like best. Go and see some houses that each of them has built, talk to those owners about their experience with that particular builder, and any problems they may have encountered, etc. before you decide on who to use. These steps will help you in your being fully satisfied with the experience as a whole.

Answer 2

You will need a Construction Loan- A builders Risk Insurance policy- you can act as your own General Contractor , hire Subs and do any part of the work your able to do. When you buy the land makes sure it is surveyed and staked, check the set back distance, usually its in line with other near by property, and check the side set backs- Rough stake the Foundation, assuming you have Plans for the home you want. To make things easy, strectch a STring line, front to back on each side- - You will then start with an Excavator, but its best to hire the Basement wall contractor or foundation and slab guy, have him coordinate the excavation, just make sure you are in the proper spot.

Get your plans first, then when the Survey is done ask the surveyor to stake out the house and excavation. he will do it for a fee.

Answer 3

Surveyor would be good. Survey the land, then consult a contractor or architect to see how your building plans should be executed. Then get estimates for the cost and talk to your bank about getting a loan for building expenses.

Good luck!

Answer 4

You will need to contact both a contractor and a civil engineer, usually your contractor will already have and engineer they already use so find that out first. Your contractor is going to be the one who will get you through city or county requirements the easiest. I worked for a civil engineer for a few years and found it was easier to deal w/ contractors then home owners, let them do your leg work for you trust me you will be paying them enough for it! good luck in your new home!

Answer 5

You need to have the soil tested and plans drawn up by an engineer. Also you need to contact your local building department manager. He or she will direct you in the right steps.

Answer 6

You cannot have a mortgage without a building. Bank will not mortgage land. They will give you a loan for land and a mortgage for a building.

However, you can get preapproved for a mortgage.

Answer 7

Homeownership is becoming a reality for more and more Americans. During 2000, the US homeownership rate reached 67.7%, the highest rate ever. Yet many Americans don't realize that homeownership is within their grasp.

Answer 8

You find a contractor, you investigate him and get references, a good contractor will tell you everything, like papers that you need and all about digging for plumbing etc.

Answer 9

PAY OFF PROPERTY & IT BECOMES YOUR 20% DOWN PAYMENT, BRING PLANS & CONTRACTOR TO THE BANK FOR LOAN!
LIKE I TELL MY SON & DAUGHTERS, CHOOSE WELL.

SEE TO IT, THAT EACH MATERIAL & LABOR BILL IS PAID, AS HE ( BUILDER) MAY TAKE DRAW & RUN, GAMR OVER YOU LOOSE! ALL THE MONEY & HAVR LIENS PLACED ON THE PROPERTY!

Answer 10

call your loan officer and ask him/her. as quickly as the appraisal comes lower back, the loan would be submitted, circumstances gained and then met, and then very final docs and the loan will close. What are you waiting for from the supplier? it extremely is late interior the interest for an appraisal to no longer be lower back.