Construction Loan Lessons Learned

[Carlos Eliz]

Hi BP family,

I’m looking into construction loans. Do you have any lessons learned, builder contract clauses, contingencies that should be considered before I embark on this venture?

I’m looking at new single family construction on a family owned residential plot of land. I will be buying this from a family member. Do I roll this purchase into the loan, how do I do it, when do I close the land purchase?

Thank you