New Construction- House Complete!

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Viewing 15 posts - 1 through 15 (of 27 total)
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  • #41092
    kcotting
    Member

    We just got word that our house is finished!

    The bank has given us our conditions and the last one was getting the final appraisal once the house was done. We’ve been waiting since 3/15 and no new conditions have come up. The first appraisal came in over what we are paying for the house, so I’m not worried that we will run into any appraisal trouble.

    I hope this means we are close to the Clear to Close!

    Our contract has a close date of 4/5 so everything is moving along as it should.

    #41111
    TTrumble
    Member

    Hellokcotting,

    You should indeed be getting close to the Clear to Close. Looking forward to reading your post about your closing!

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #41113
    futurehomeowner15
    Participant

    Awesome news!

    #41152
    Jay
    Member

    Kcotting congratulations!

    We just started our new build process and our house is going to take 5 months. Could you share some info on how the process went for you? We submitted our Purchase Agreement this weekend to NACA. What happens after that, specifically when did interest rate lock in for you and when was the appraisal on the house done?

    #41172
    kcotting
    Member

    Jay,

    Getting your Purchase Agreement in is a big step! You are well on your way.

    I don’t recall when our interest rate was locked in. TTrumble said on 11/16/16 “Your interest rate is now locked in on the day we receive your Purchase and Sale Agreement.”
    So it might already be locked in for you.

    The appraisal was done for us once we were in the mortgage process. The bank ordered it and let us know when it was complete. They also informed us they’d order a second one once they got word the property was complete. They are doing that one today.

    Good luck on your journey!

    #41178
    Jay
    Member

    Thanks for the reply. I’m anxiously waiting to get to where you are.Good luck with the rest of the process

    #46111
    sleekdunga
    Member

    We started out on our new build in March. P&S was signed off in May. House was completed and we did our first walk October 23rd, we did our final walk 11/02.
    Our MC is very prompt regardless of her busy schedule. Citibank has been asking for plans and spec for a very long time in order to get the appraisal and unfortunately our closing coordinator is in my opinion not so responsive, 10/26 CC was asking us for the same spec and plan that has been submitted to him before.
    Our appraisal has been overly delayed and we are so fraustrated at this point. Another whole week has gone with no updates. Citimortgage tracker does not say anything about appraisal ordering, NACA webfile still say Lender conditions.
    The builder will only hold on for about 5days after our final walk after which they could place our house on the market.

    We have sowed so much emotions into this whole process and we are weary at this point. No status nor update where appraisal is concerned.

    #46169
    TTrumble
    Member

    Hello sleekdunga,

    Please call NACA Member Services at 425-602-6222 and ask them to contact the CC on your behalf.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #46388
    tymirr05
    Member

    Hello all

    I am new to NACA I had my first intake on 11/8..Where can I find the requirements for a New Build? Thanks

    #46410
    Jay
    Member

    It’s in the purchasing workbook that you receive after you’re qualified. In the meantime, you can ask your counselor what the requirements are at your intake session.

    #46411
    tymirr05
    Member

    @Jay ok thanks. Just curious ?

    #46428
    southflorida
    Member

    There are not many differences between the requirements between new construction or a resale home, one of the advantages of new construction is that you don’t have to go through the HAND department and you are not required to do and inspection. However. It’s still recommended and could be worth the around $500

    #46943
    NewOhioBuyer
    Member

    Hi all,
    I’m new on this forum and pardon me if this question is already answered anywhere. I just got qualified and trying to go towards the new construction, but I’m not sure where or how to start. Any help would be much appreciated from those have taken the lead on the option. Thanks.

    #46949
    southflorida
    Member

    Hello @NewOhioBuyer what exactly would you like to know?

    #46952
    NewOhioBuyer
    Member

    yeah, so I have seen a couple of builders in my area(not spoken with them yet). What do I have on my plate before I approach them regarding presenting to them what NACA is offering me from starters or just go as neutral and then present the NACA offers later and bearing in mind what to do to find out if my mortgage amount will match their options. and finally, do I do these enquiries with a realtor or by myself. Any help, please.

Viewing 15 posts - 1 through 15 (of 27 total)
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