I started a thread back in December about long driveways and appraisals in connections with our plans to build a home.
http://www.tractorbynet.com/forums/rural-living/266209-long-driveway-home-appraisals.html
Its taken a little longer than I thought but we are finally able to start the build. The biggest problem I ran into was getting approval to be my own general contractor. The biggest issue was contractor lien coverage. The bank wanted a GC with a payment bond to cover the build. It took over a month but we finally received the final approval from the bank last week. I ended up having to use equity from our current assets to secure the project during the lien period.
I thought I would start this thread to document my experience building our home. As mentioned, we are building this as owner builders so I will be my own general contractor on the project. More info to come shortly including pics of the current plans, timber frame design, etc.
Jeremy
http://www.tractorbynet.com/forums/rural-living/266209-long-driveway-home-appraisals.html
Its taken a little longer than I thought but we are finally able to start the build. The biggest problem I ran into was getting approval to be my own general contractor. The biggest issue was contractor lien coverage. The bank wanted a GC with a payment bond to cover the build. It took over a month but we finally received the final approval from the bank last week. I ended up having to use equity from our current assets to secure the project during the lien period.
I thought I would start this thread to document my experience building our home. As mentioned, we are building this as owner builders so I will be my own general contractor on the project. More info to come shortly including pics of the current plans, timber frame design, etc.
Jeremy