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Updated over 3 years ago,

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1
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Kurt Becht
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Pre Sale Construction on Lot I own

Kurt Becht
Posted

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.