Buying a partially built, new construction home: pros and cons?

[Renee Yarbrough]

I'd like to buy a partially-built, new construction house that has a concrete pad, roof, outside walls, windows, and inside framing. No electric meter, wiring, plumbing or inside walls. There is an architectural drawing that comes with the purchase. I've never taken on a project this big, and am wondering what the hidden costs would be, the potential downside, and any costs/time delays I wouldn't think about. 

[Scott Krone]

@Renee Yarbrough  To answer your question, what are the pros and cons.

Pros - at the stage you are describing there is lower risk for unknown construction.  The largest unknown is the underground plumbing.  You have an approved set of plans, and a permit.  The entitlement process is complete.  You can bid most of the trades from a new perspective.

Cons - one needs to confirm the following:  1.  Permit status.  Are there any permit violations or stop work orders that need to be corrected.  2. Liens.  Are there any unpaid subcontractors that have place liens on the property.  3.  Scope the underground to insure it has not been tampered with.  4.  Inspections.  Has it passed any inspections (rough framing, underground, concrete, site work) - get copies of inspection reports.   Plumbing, Framing, and concrete may be your only partially completed subs.  Need to confirm if the roof is 100% done (any saddles, flashing, terminations, etc)