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Residential new home build question.

Not into house building but

Hopefully your guy is keeping back money till the house hits certain stages and passes those inspections
 
cda said:
Not into house building but

Hopefully your guy is keeping back money till the house hits certain stages and passes those inspections
Click to expand...

Yes, indeed. Builder is basically taking the entire cost of the home on their shoulder with a small down payment like most large home builders. They could walk away at any time and only lose the deposit they left, unless there is some issue of great impact, such as not passing inspections and other terms of the contract. Then they could get the deposit back. Most contracts are really written in favor of the builders these days sadly. Thx
 
Reading between the lines here, are you saying most builders there build certain model homes, not custom? We are actually the other way around; most builders are doing custom homes.
 
Very few specs around here either, 99.9% are customs. I'm not sure we even have a local builder who has his own models of homes - most of the time, the h.o. takes a plan to the contractor and they build what's on the paper.
 
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