Your builder's risk  insurance picks it up from there. 

The area has appreciated very well over the past couple of years and we bought cheaper than we probably should have been able to, again through timing and where the builder was at on things- some of their other projects that were like ours in the same neighborhood were purchased a month later for $25,000 more than what we paid.

Like right now funding land flippers in rural CO.. and that is a spectacular  market for us.. have not gone vertical. then you can go to private money like Builders Capital  Peers of mine in the industry dont care for them.

There thinking some clean-up-fairy comes swooping in with a broom, washes the ashes away and then Bob The Builder n all his friends comes hot on the hells, Bing-Bang-Boom all is rebuilt and were singing kumbayas by Christmas.......Reality is it took about 10 years to rebuild post katrina. 

Either way its good to buy end of year as most builders and sellers are offering seller credits or builder credits to use towards closing costs or to buy a rate down to help get a lower payment.Even if you wanted to buy a strater home like a 2-4 unit as a primary again you only need to put 5% down. 

Here are my thoughts/questions:-When you say "builder" please give some more background...is this someone who builds a handful of spec homes a year in the area?

But for Me, I use it... ive communicated with the app builders and they respond real quick if you have suggestions or comments.. it Cost$$ is the downfall I have..

.: Side note: What’s up with deck builders using deck screws in joist hangers these days? 

This is why the big corp builders or regionals control so much of the larger developmentsthe deals i funded are 34 lots 160 lots and 80 lots respectively and each of them have contracts on them by Toll and Lennar and one regional but they only close when we have permits in hand. 

I am a Realtor and real estate investor in Raleigh, NC and I just bought 2 cash flowing properties in the outskirts- it's a new construction homes with builder special financing of 5%.