ADVICE - New Construction Lot
Hello Guys - I would appreciate if you guys can provide your precious advice. I have done about 10 fix and flips in last two years but I don't have any experience in new construction. I am looking at a lot where the comps are pretty solid. The lot is clear and flat already. I have spoken to a developer and he provide me a verbal bid of 108K for a 1500 Sqft house with two card garage. so the total sqft is about 1900. He told me price include all permits as well. I have three questions :
What should be due diligence in terms for buying the lot in addition to comps and ARV ?
Is the price for a basic builder grade home at about 108K looks reasonable ?
What are the other cost involved beside the development cost.
Any help would be appreciated
Thanks