bartow: Is your Atlanta-area client having a hard time finding a bank to handle construction-perm financing?
- 03/13/09 03:26 AM
I've spent at least 15 of my 21 years as a community banker handling deals most bankers shy away from: Owner-occupied residential construction-perms. These transactions demand significant "teaching time" on the part of the banker for even the most sophisticated borrowers. Some of the topics I'm able and willing to cover in great detail with your client are: Hiring a reputable general contractor, The necessity of having adequate cash reserves to fund inevitable cost overruns, County and municipal permitting, Explaining how the progress draw process works, Locating suitable, buildable land, Pros & cons of onsite sanitary sewerage (septic systems), Ins & outs of municipal building code & … (0 comments)
I've spent at least 15 of my 21 years as a community banker handling deals most bankers shy away from: Owner-occupied residential construction-perms. These transactions demand significant "teaching time" on the part of the banker for even the most sophisticated borrowers. Some of the topics I'm able and willing to cover in great detail with your client are:;)
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