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Updated about 7 years ago on . Most recent reply

Michael W.'s profile image
Michael W.'s profile image
Michael W.
  • Real Estate Investor
  • from Los Angeles, California
  • Member since Sep 7, 2016
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14
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Michael W.'s profile image
Michael W.'s profile image
Michael W.
  • Real Estate Investor
  • from Los Angeles, California
  • Member since Sep 7, 2016
Connect
Michael W.
  • Real Estate Investor
  • Los Angeles, CA
1
Votes |
14
Posts
Land & New Construction

Acquisition/Construction Loan Questions

Michael W.
  • Real Estate Investor
  • Los Angeles, CA
Posted

Hello!

When getting an acqu/construction loan, how can you really know your costs/budget until you have construction docs from the architect and send them out to contractors to bid. That takes months. Do you just give your best estimate to the lender and go from there? One obviously wouldn't want to do all of that until they had the property under contract or bought. 

Thanks for your help!

M

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