Teardown for New Construction

[Algen Albritten]

I've located a property with a very dated home that I would like to tear down and rebuild. Im having trouble locating any loan programs that would work for this type of situation. Also if anyone has experience with tear downs I am all ears. Thanks. 

[Daria B.]

Originally posted by @Algen Albritten:

I've located a property with a very dated home that I would like to tear down and rebuild. Im having trouble locating any loan programs that would work for this type of situation. Also if anyone has experience with tear downs I am all ears. Thanks. 

Not too long ago I read a post from a BP member that donated his house to the fire department for them the use as training. He donated "sold" not sure how that worked, just the house to them for their training fire and kept the land to build his new house upon. He talked to the local authorities about permitting and the fire department for te donation. So in the end he didn't have to pay for demo. Try searching the forums to see if you can find it. He had pictures and step by step of what happened. Amazing thinking outside the box. 

Now, as far as loan programs, I'm not sure if you get it demo-burned by fire Dept for training etc, what that leaves you. A new construction loan?