Permits required for my projectYes, permits will be required but when do I need them? You need them prior to any work beginning on the project. When might you start work on your new home? Not till it closes escrow as that is in the paperwork you signed with your consultant. He also instructed you to get them prior to any work to save you a double permit fees fine.
I currently have a lender who is demanding that permits be pulled prior to close of escrow. Interesting? How many of you have ever heard of someone pulling a permit to build on your house that wasn't an owner of your house? This is way out there in left field. The contractor won't pull them becasue they know better so the borrower is being told to pull these against all of us telling them it isn't protocol.
I tell my clients that YOU cannot pull permits until YOU own the property. I don't want you to spend the $10,000 as in this case until you have secured the property. If the deal falls apart at the last minute you will have permits on a house you don't own. Did you ever try getting a refund of permit money that was over paid? NOT going to happen. Some states now actually will allow the buyer to pull permits prior to owning the home as they know they won't refund the money, and they want the money.
They must be liberals because a conservative would say, "close the loan, then, I'll get permits on my house".
Mike Young, 203k Team Leader
We have fourteen offices in CA covering both CA states, NorCAL and SoCAL where we can cover the entire state.
To learn more about the FHA 203k loan program go to www.203kOnLine.com. To contact us for a consultation please go to www.my203kconsultant.com and "order a consultation". If you like what you see here please take a look at Another blog by Mike Young in Spanish and other languages.
Skype name: the203kconsultant
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