They will burn the brush and stumps this week and then should be about done after they move their pile of timbers out. We thought we could get right into having excavating come, since we have cash that we will be using first before we start drawing from the construction loan. But it doesn't work that way. We can't spend any money right now, until we actually close on the construction loan. Once it's closed, then when we go to make draws from it, the bank will actually draw from the cash first, for us. So we still need to bring the cash to closing, like you would for buying a regular house. Soooo we wait now, till closing. Our Loan Officer is setting the date for May 22, and will get it done sooner if it goes quicker. The time all depends on the Appraiser, in finding the value of what the house will be on our property. I'm hoping the process of approval and finding comps will go fast! Having to wait to break ground put us back another 3-4 weeks. Oh well, it's all coming together now anyhow. And it will be worth the wait!
-Blogged from my IPhone