The right to show the property to third parties (inspectors, tenants, buyers) while you have it under contract is one example.John Corey

Does the developer has any obligation to sell the property to him at the $175, 000 price since the construction has taken so long ?

I've been doing them under my business which is '"my name" Construction' and the purchase agreements are also being written up in my name.

Currently we have a fixed rate at 6.0 percent the new loan would obviously have a larger rate and would be a 3 year ARMNext, the property is a new construction condo on Miami Beach.

Oh BTW.....the repair estimate was not from my construction company.

With hard money, before you are able to receive money for the construction, the work has to be done first and you have to do a draw request, which means you don't get the rehab money upfront.

I know there is for architects when they supervise a construction project.

My partners are in construction so we will do the majority of the work to maximize our profit on this first deal.

Or several someones such as a home inspector, pest control person, mold inspector, radon inspector, etc.

I don't have the experience you folks have, but I see basically the same thing here: houses sitting on the market, being taken off, even rentals sitting empty, few people even looking.Builders have stopped building in my area, but there is some commercial construction on the other side of town.I wonder, is it time to take all my pennies from the bank?