Construction Closing and Final Design Plans

 September 1, 2020.  

I am starting to understand why Captain Kirk didn't always like noting items in the star log.  We closed on our construction loan on Friday.  The appraisal came in short, so we had to bring cash to close which in the long run means we just wasted all that cash for nothing.  The construction loan is what we have in place to certify to the builder we have taken out a loan and that includes a schedule of draws that will be transferred to the builder upon completion of tasks and assignments.  There is a set interest rate for 12 months.  Payments are interest only for those 12 months.  The end game being that once the house is completed, final inspections are done, we start the refinance transaction on the new residence.  Which is the reason that bringing cash to close for the construction loan was a kick in the shin when we are going to refinancing down the road at the conclusion of the build.  


Here is the final set of plans for the new build.  










Inventory Challenges:
Kelly spent a great deal of time combing through samples and product at Billmans Home Center.  She picked out a few material samples that she envisioned I would like as well.  We posted some pictures of the tile selections for the master bathroom.  On Saturday (8/29) we were informed that our title selection was being discontinued by the supplier.  In all honesty, it's a big deal because none of the other choices came anywhere close to having the look and feel that we wanted.  We asked the person at Billman's to make some calls and inquire about inventory.  I can't image that once they discontinue the product there is a mad rush to destroy or pitch out any excess product.  Fingers crossed that she is able to locate product to make this happen. 





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