Custom Home Progress Chart
 
The following items should help you get familiarized with the steps involved in building a custom home. Order of events change accordingly.

STEP 1
A) Set budget: Put together a price range
B) Select homesite: Area, location, type of lot, subdivision
C) Make appointment and start loan application
D) Start general design of home according to location and type of lot

STEP 2
A) Do contract for land [approx. $1000 deposit required]
B) Review preliminary plans
C) Go over specifications for the home
D) Do preliminary price estimate
E) Order working drawings (appraisal set of plans) [possible deposit required]

STEP 3
A) Review plans and front elevation
B) Receive written proposal and sign contract [possible deposit required]
C) Order final plans
D) Order appraisal and foundation plans
E) Submit plans for architectural approval
F) Order city permits

STEP 4
Mortgage loan approved!! Celebrate!! House starts!!

CASH SALE
A) Verify funds at bank (construction loan)
B) Sign liens if required (celebrate again)
C) Start house

LOAN INVOLVED
A) Apply for interim loan
B) Interim loan approved
C) Close and sign liens
D) Start house

STEP 5
When construction is complete
A) Set a closing date
B) Set a final walk-thru inspection
C) Home orientation and closing!!!

Buyers list for closing
A) Obtain insurance policy
B) Bring cashier's check for prepaid items: Taxes, insurance, interest, MIP, funding fees, closing costs.
C) Bring bills paid afidavit for any items provided by buyer instead of seller
D) Sign papers - celebrate again!! Call moving van!! Start moving!!

rev2/98