Updated almost 5 years ago on . Most recent reply
Developing vacant lots
Hope everyone was is well. I built a custom home for a long time client a few years ago on four acres. She now wants to sell me the remaining property - 3 one acre lots. They are nice and they will sell. We will be the builder. Two questions.
1. I have the lots under contract, but have not closed. Can I pre sell the lots even though I don’t own them yet?
2. My debt to income is not good currently, but have excellent credit and some cash- how can I get financed?
ok - three questions
3. Is it possible to pre-sell, get seller paid and avoid bank all together?
I’d appreciate any feedback. This is my first endeavor in developing lots.