Land transaction advice needed
I have a vacant building lot for sale and through my marketing efforts have been able to connect a build-to-suit homebuyer with a local custom builder (who also happens to be my uncle). The title to the land is held within my LLC. The homebuyer is using a construction loan for the new home. My questions are: What are the typical transaction steps to convey title in this scenario? Would conventional construction lending allow the buyer to purchase my home prior to construction commencement, or will the builder need title beforehand?
Thank you for any advice and insight.