Nothing can frustrate a builder more than having plenty of properties lined up for potential buyers, but the whole process is on hold due to the huge delays with the financial institution. This is what is happening around the country as builders are trying to secure as many properties as they can to sell to eager buyers who want their dream houses now.
Here is why builders are now working closely with the construction spec loans specialists to help free up that cash in a more timely manner.
When business is starting to improve, you may be in the position of buying many lots on one property. In the past, you would have had to go to several closing at the convenience of the bank, not yours. With the builder spec loans specialists on your side now, they will make certain that all the closings are happening simultaneously because they value your time and your business. This can really free up your time and give you the ability to focus on your business.
With the builder spec loans specialists, you can expect transparency from the beginning to end of the loan process. When you have questions, a team member is there to help. When you need to discuss your application or are having difficulty with one aspect, the builder spec loans specialists will be in close contact so they can help you to get by the issues and to closing as quickly as possible.
If all the workings of the loan are taking place in-house, then the builder can expect faster closing times. This is important for the builder that things progress along at a decent pace so they can continue to grow the business instead of spoon-feeding the banking underwriters at every turn of the process.
Perhaps the biggest benefits to working closely with the builder spec loans specialists is they do it all in-house. There are no more third-party appraisers involved to slow the process down to a crawl any longer. That slow construction loan approval process is what can cripple a builder’s business because he knows what he needs to buy, he has the buyers lined up, he just can not secure the funding fast enough to supply the demand. That is no longer a concern when you are dealing directly with the builder spec loans specialists.
Now you see all the reasons why builders are working closely with the builder spec loans specialists to help free up that cash in a more timely manner. For more info visit: ConstructionSpecLoans.com