This is just a quick note to say that we just signed the contract to build our new house. Woohoo! Pretty exciting stuff. Prior to this, we spent 2-3 weeks discussing various details with the builder and going back and forth on overall pricing, construction allowances, contract wording, etc.
Our next steps include closing on the lot in about 10 days and finalizing our construction loan. With regard to the latter, we previously provided the bank with various (personal) financial details, but they needed a signed contract and a set of modified house plans before they could move forward.
So… We’re still not ready to break ground, but we’re getting there! The main holdup right now is the appraisal (based on the contract details and finalized plans), which should take 10-14 days. Once the bank gets that back, our construction loan should be approved and we’ll be ready to move forward.