I want to build a house about 2000 sq. ft. How long would it take to build the house after the lot is purchased and all the forms are signed, and so on. How long would it take from beggining to possesion date? \n\nThanks.
135226
It should take no more then six months.  One thing that could hold you up though is a building permit.  Also if you are doing it yourself and don't have experience then it will take more time.  But a professional contractor should get it done in six months if its 1,500 or 2,500 square feet.
236733
Hi Mike M. I just found this question so sorry I'm just now replying. Thanks for the links. I showed my fiance the site for bid4build and he said it wasn't what he was looking for, he needs something that saves the cost of materials so it will automatically upload when he creates an estimate. Here's the site for bid4build, check it out, it may be what you are looking for. Good luck to you and thanks again! I accidentally told you it was bids4build but it's bid4build. \n\nhttp://www.bid4build.com/
424843
If people would think about it, newbie realtors are the best!  They have fewer listings thus they can devote nearly all their time to selling your house.\n(How did you like that for an advertisement)\nBut it is true.  \nExplain to the prospective sellers what I have just said above.  Also tell them that you are just one of many professionals involved in the sale and closing of the house.  In fact you are really just the facilitator.  The lending institution, abstract/title company, closing company/attorney, the inspector, all have huge roles in getting that house closed and into the hands of new owners.\nTell them you are one of a team.  You will devote your undivided energies to marketing their house.  The others on your team will ensure that it closes properly.\nAlso, you are going to have to meet these people that want to buy and sell in the 400,000 range.  The easiest way to do that is to offer to hold open houses for other realtors that have houses in the price bracket listed.  Thus when the people come thru the open house you are the one they meet.
290454
Its common for sellers to want to sell ASAP.  If they have their next place lined up they just want to move on.  You could ask them to pay you a little bit to do this if you wanted, or if you don't care when the closing is you could just move it up to be nice.\n\nAnyhow, as the prior poster said, you typically pay your mortgage for the next month and the fractional portion of the current month in advance.  So settle on the 1st and you come up with 2 months of mortgage payments at the closing table.  Settle on the last day of the month and you come up with one month and one day of mortgage payments.  However, settle on the 1st and your next payment isn't due for 2 months, settle on the 31st and its due in one month and one day, so this is extra $$ you need to come up with at the closing, but not really a permanent extra expense.  There could be other minor adjustments, but probably very little would be different, no real extra costs.\n\nNote also that the bank and title company have alot of work to do, so its very possible they won't be able to close in a moved up time period even if you want to. So make any contract change contingent upon the bank/ title company being ready in fewer days (or better yet, if you agree to this just verbally tell them you will try to close sooner, but do not ammend the contract with a new closing date).
166102
I bought a foreclosed home last year.  We found it in the MLS, just like the other homes.  Our Realtor showed it to us.  There was a bunch of extra paperwork.  The home had been vacant for 2 years, and was not well maintained prior to that.  It took 6 weeks from the bank accepting our offer to get a closing on a cash deal.  When we got the power turned on the fridge, furnace, and hot water heater did not work.  We are still renovating, but it will be nice one day.  My best advice to you is to locate a Realtor.  Happy house hunting!
153047
If you have no money up front to pay the contractor\nperhaps you can ask the contractor to build the real estate on a vacant lot. Tell him you will pay him when the job is done. Make your contractor your best friend. Even do good deeds for him. Tell him you will pay him in cash plus 20 % markup of all of his cost and profit. While he is building the house, place an ad in your local newspaper saying their new home will be completed in 6 months. Show the buyer the beautiful house plans. Have the buyer pay you by cashiers cheque a down payment of 25%, and the rest on completion. Add 50% to your contractors bill. If contractors final bill is $150,000 sell the house for $225,00. before it is built.\nMake sure you build the house on an empty lot owned by someone else so you dont have a paper trail of ownership so you dont pay taxes. You only want cash coming into your possesion. Do not put you signature on anything. Let the new buyer absorb all the cost so you can turn a trick, I mean a profit.
323398
Why not actually move into one of the units.  Then you are completely above board (though the *wink*wink* will probably work ok too).  \n\nAs to how to do it, there is no best answer, it depends on your situation.  \n\nThe route I would follow is, find out first off how much money you will need.  Be sure to budget for closing costs, fixup, etc; and be sure to ask several banks/ brokers to get the best number.  \n\nNow, just figure out how you can get that money at the cheapest cost to you.  If you have the money, great.  If you can take out a 2nd cheaply and get it, do that.  If you need to refinance, do it.  I'd make sure I had the money (or at least a plan for how I would get it) before putting down a contract though thats not required.  Of course make sure the contract has a financing contingency, and a general contingency it the seller will allow it (a general contingency like "contract is contingent upon approval of spouse" - if you get this is there are decide later you don't want the place, shouldn't be to hard to have the spousal contingency fail).\n\nI guess the easiest way to put this is, figure out exactly what you want (a 2nd 2 family), exactly what you will need to get it (x dollars, plus y hours of time, etc) and then do whatever you need to do to reach your goal with the minimum cost and time loss to you.  I realize this is a general statement but without knowing more about you I can't make it more specific.\n\nAlso, I always hated even bending the law even in the really minor way you describe (though I did it a few times) fearing it would come back to haunt me someday.  I got lucky and it never really did hurt me much, and now I'm totally above board.  I'm not suggesting you not do the *wink*wink*, just that you avoid that as much as possible.\n\nBest luck.  Also, by the way, there was an extremely active foreclosure specialist in my area who just got caught with something like 120 properities in her name, all of which she had bought as an owner-occupant.  I guess if she can get away with it 119 times (plus the 100's she sold over the years), you can get away with it once.
83100
With interest rates still at historically low levels, yes, it's a good time to build.\n\nTo stick to a budget, I suggest you develop a file of examples / a wish list of features you'd like in your house, and then contact perhaps two or three builders to discuss your project. Review the ideas you have with them. You should be able to get a feeling of whether you are comfortable with them. Choose someone you can work with. This is a long project. Ideally you will end it with a good relationship.\n\nDevelop a detailed itemization of exactly what will go into the house under your contract. Don't expect to add extras without paying more. The more you have throught the project through ahead of time, the better start you will have for staying on budget.\n\nHughes Home Builders does design-build projects like you are anticipating. Joan Hughes can work with you to develop the house you want within a budget you can afford. She will likely have other ideas, too. They built our home over 20 years ago and will be doing an addition for us in the near future. You can reach her at 508-693-3987.\n\nBest wishes for a successful venture and a great new home.
300191
Well lets see these are my Realtor or sales professional sayings and promises.\n \n1. "I will sell your house."  Bull SH&@! They don't sell your house for you they invoke a genius marketing system (a.k.a. multiple listing service)that allows other blood sucking sales professionals to see that they got you to sign a contract saying that they get the commision for entering info into a computer system that takes as long as me typing this answer and then they set back and hope one of their fellow kind lands on someone that wants your house. I think you can do that much.\n\n2. "Just give me 90 days and I/we will sell it."  \n\n  See Previous Rambling\n\n3.  "I will represent you at closing." \n  No they should say I will make sure everybody shows up to sign so I can run my check to the bank.\n\nBeyond my opinion.\nIf all you do is run a newspaper ad for 30 bucks a sunday you will inturn work harder than the average realtor. They mostly are just a pretty face that knows the answers to every question in real estate acquisition. Licenced by the state so the state gets a cut of everything, almost a rackett in my opinion.
633057
In a construction loan, you can use the portion of equity you have in the land towards the total "finished" value. Basically, your down payment is within the land that is already payed off. I specialize in commercial/construction loans if you'd like to see about getting an approval, let me know.\n\nSome basic questions:\n\n-Do you have plans already\n-What is the zoning of the land\n-what are the total construction costs\n-Do you have permits\n-Where is the property located\n-what do you estimate the value (completed) to be\n-Are you and your significant other employed/retired & what income/how long on your jobs\n-is the property in a rural or urban area\n-what is your credit situation\n\nThese questions should be enough to get some accurate figures for you.
487718
1 - Don't have your buyer pay for an inspection prior to winning the bid.  You cannot have the utilities on anyhow until you win the bid and get permission.  If your buyer is going to live in the house (not rent or flip it)  then they can back out if the are getting an FHA loan, and there's a major problem with the roof, foundation, major plumbing or HVAC.  Investors don't get that option.\n2- Put the bid in yourself.  Don't go to the BLB for them to enter it on the computer.  This is a secret bidding procedure.  You don't want the broker representing other buyers knowing what your bid is - you'll lose by $1 every time!!!!\n3- In Texas, I've helped other agents put in HUD bids (as long as I don't have a buyer for the same property).  Contact me if you're in Texas.\n4- I'm not sure in other states, but here, the closing agent is picked by HUD's Marketing company - Southwest Alliance (used to be part of First Preston).  They will do the title search.  The mortgage company would contact them for title commitment.\n5- If you win the bid, then you have 48 hours to get the ORIGINAL paperwork SIGNED IN BLUE INK to them (the website will tell you where your contract has to go).  Include all the pages, plus a lender pre-qual letter (signed by loan officer, buyer and broker), and a copy of the cashier's check.  The check will then go to the actual title company or attorney they've chosen to close the property.
672602
Yes you can.  I guess you've read Rich Dad Poor Dad.  Great but he doesn't tell you HOW.  It is something I have been trying to figure out for years.  I got the answer a few months ago by my brother showing me.  It is amazingly simple.  All It takes is confidence and thinking big and clarity of mind.  The more you try to figure it the more pieces fall into place.\n\nSo I guess you want to know how?  Ok I will tell you - I'll email my bank account number to you and when you make your first million which you can do within a year - you deposit me 20%, ok?\nlol - only joking - happy to help out.  Ask youreself what you will do with al the $$ though.  If you don't have a goal for the $$ it will end up destroying you when you have lots.  Just a bit of philosophy - take it to heart because you will have plenty $$.  \n\nTake this 'formula' or principle and apply it to whatever is available, it is flexible.  Apply your mind.\nOk here goes:\n\nRemember confidence and think big.\n\nFind a large property in a good area of your city/town that is for sale.  The suburbs is a good place to start, find out from real estate agents which is the fastest growing area.  Go to the dge of that where serious development hasn't started yet.  A few miles is fine, the expansion will catch you.  Once you have found a suitable site, look around and don't be disheartened if the first few are not spot on.  You will be gaining experience with each site you look at.  The site should be large enough to subdivide into smaller erven (erfs) (plots). There will be minimum size zoning allowed in specific areas.\n\nI am assuming here that you know a bit about the property development lingo (of your country).  If not do a bit of research by visiting your local (authority) municipality.\n\nOnce you have found a suitable site that can be subdivided say into 10 plots.  Heres the crux!\nLet's say the seller wants 1mill (theoretical amounts - whatever is going in your area and currency counts) for the property go to him and tell him you will give them 1.5mill if they go into a joint venture with you.  They will.  Then what you do is get the plans for the property from your local authority.  Divide the property up into plots, use a landscape architect if neccessary, or do it youreslf.  Get this development approved by your local authority.  Again you will gain experience as you go.   Once the plans have been approved for rezoning to residential size plots.  This may take some time (find out names at the local authority and hound them, it will move faster) Then what you do is put the plots onto the market at residential prices (per square meter).  Exorbitantly more than the original large piece of ground.  As this is an expanding area they will be sold loke quickly.  You give the original seller his 1.5mill and pocket the difference.  Usually a hell of a lot of money.\n\nAs simple as that.  Hardly cost you a cent.  You used someone elses money and walked away with the finances to do the next project youreself.\n\nWhere you might have to put in money is for the drawing up of the plans, advertising and if you do a cluster dvelopment you should put a wall around the site (expensive) to sell it a concept (helps sell quicker and for more).  For these costs you go to your bank and borrow the money using the large property as collateral. Remember the original seller and you are ina joint venture so you can do this (set up a cc if neccessary).  \n\nThat is the jist of it.   It is actually so simple.  This is a general plan, it can be applied to many situations.  It is a pretty hectic concept to try to get across in so many words.  If I have left anything out apply your mind and fill in the gaps.\n\nGo for it, believe in yourself and the world is yours.\nGood luck.
361340
People need to qualify their real estate questions with information about the State and County they are talking about. Get ready to go to court. It is no big deal. The Sheriff will throw them out after you win the case unless they show up and fight. Depending on what City you live in, that could take from 30 days to 9 months. See an attorney or turn the whole thing over to a professional property manager. People shouldn't do these things on their own. What you will end up losing on your own is far worse than what you would pay a professional.
250912
There seems to be close to a monopoly on this kind of information. It's held by Realtors in the MLS system. I would call a local realtor and ask for the stats. If it's for a project, say that you'll give them credit for the info. If it's for your own needs, they'll give you comparable sales in the area for up to 10 years (1-2 is more practical) if you are trying to sell your house. And if you are lookking to buy, they'll give you whatever stats you want. If the first agent won't help you, call another.\nGood luck!!
199801
I looked into becoming a realtor a while ago, I'm a SAHM so it sounded good.  Hours wise, its pretty flexible in that you decide how many you want to work, how many clients to take on.   Depending on your financial need, you might just need to sell one house a month.  But what I found out (which is why I couldn't do it) is that it's a lot of start up costs.  You have to pay for the training (usually given through a real estate company), pay for your testing, pay for your licensing and to be on Realtor Boards.  Plus there are annual dues for being on the Realtor boards (which is required by most real estate places).  So here, start up was going to cost about $1700.  But if you can swing that, its really flexible in that you decide how much you want to take on.  But, keep in mind that most open houses are on the weekends, and that most people like to go see homes on the weekends or after THEY get off work.  So it might not be a real scheduled job for you, just flexible in how much you want to take on.  Money wise, its like 7% that you get.  So whatever the sold house goes for, you get 7% of it (in Michigan anyway).  So the money can be very good.
394461
To be honest I believe that the first thing you need to do is hire an architect anyway.  They know what steps you need to take and can ensure that the plan you have selected is correct for your needs and meets local ordinances.  Also, in order to get a loan you are probably going to need work done by an architect, and, depending on the home site, a geotechnical engineer.\n\nYMMV, but this is true in my locale.\n\nFull disclosure - I am a civil engineer working in the construction business.
347551
Sounds good to me.  Very proficient.  You have had all inspection and no variance was needed.  The only thing I can think is the uitility hook ups.  The pre-constructed house will have all the hook up but can services such as cable, electric, gas, telephone,etc.  I am sure.  Now, it's just time for them to come and assemble.