As required by the Real Estate Settlement Procedures Act of 1975, your lender will provide copies of good faith documents within a few days of your filing a mortgage application. If your Sales Agreement is contingent on the sale of your present home, you will also sign a Right of Refusal form that permits FaxonGillis, if necessary, to continue showing the home. If another prospective buyer makes a firm offer, you will have an opportunity to remove the contingency and set a date for closing. Any problems or delays you encounter in arranging mortgage financing should be brought to the attention of your FaxonGillis Associate as early as possible. A great deal of preliminary work is completed after you sign your Sales Agreement and before construction actually begins on your new home.
Plans are prepared and permits issued.
Subcontractors are scheduled, and materials ordered and delivered. Your mortgage company will also process and complete your application during this period. FaxonGillis' careful scheduling assures that your home will be completed as quickly and efficiently as possible. Construction times vary from 90 days to 120 days after the slab is poured. The size of your home, weather conditions, construction schedules and other factors influence the process.