If I could have re-blogged my own post I would have.
The Risk and Reward of Land subordination to a construction loan. Was the original post.
All you creative writers will find this a dry subject, and unless you are in the land development and construction business the title alone would have sent you on to other posts. But let me share a recent request I received by email. "I am a builder in the Washington DC area and just read your interesting write up on land subordination. I would like to use this approach in purchasing two lots from a flexible owner. I want him to see this as a win/win scenario. Have you structured these contracts or know an attorney who has?"
I responded to this builder, and gave him a few tips and advice on the elements of this type of transaction and what it may take to be successful for all parties concerned. I advised him to seek local Council and have legal representation for the transaction. I offered to allow him to share my post with the potential seller to understand the elements of the transaction and I adviced this builder to check back with my colleagues on Active rain to find a Realtor in his area when it was time to market the new homes.
Not too long after our emails , I received this follow up note from the builder in DC. " I found your Blog informative, and the ideas very helpful in structuring a deal, where and how to offer incentives to the seller, and the steps required through the stages of construction. Thanks again Steve, feel free to use me as a reference to show others how reaching out can help the industry as a whole..even if there was nothing in it for you."
Well there was something in it for me, any sale here or there helps the real estate industry as a whole, and what comes around goes around the next person helped by a Active Rain Blog may be my next client.
P.S. if you're in the Metro DC area I may know a builder with a couple of new homes for sale.
Active rain keep up the good work, the next inquiry may be something I can make a commission on!!