Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated over 3 years ago,
Pre Sale Construction on Lot I own
Good morning. I am planning to market a proposed build home on a lot that I own. Prior to the sale, I will have a builder lined up, a plan approved for construction and a lender available to provide a construction loan to the buyer. Does anyone have any experience with this? Essentially there would be 3 parties to the contract - myself, the builder and the buyer. How should the contract be arranged? Would i stipulate in the sales contract that the sale is contingent on the buyer entering into a construction contract with the builder? How should my agreement with the builder look during the sales/listing process and then during the construction process?
I appreciate any advice and help than can be provided.