Summary: Driveway construction, landscaping, final home inspections, survey, and home mortgage loan closing are the final steps in building your house.
STEP 22: Driveways (1-3 days)
You should keep heavy trucks off newly laid concrete or asphalt drives for a period of time. Try to time it so that you have received all heavy shipments of materials, hauled off all heavy loads of trash, and finished with any heavy equipment coming to do work. Realize that if you wait until the very end of construction to pave that you'll at least have a moving van on it.
Concrete can support a moving van a week after the concrete is poured, but asphalt can't. If you use asphalt, wait until after you move in to pave. Put down a good stone base on the drive before moving in. My asphalt paving contractor insists on this and puts down the stone base and then redoes the stone (or dresses it up) before paving it with asphalt several days after the moving van leaves.
STEP 23: Landscaping (1-3 days)
This job can be put off until after you move in, depending on the requirements of your lender. Such a situation may arise due to weather or scheduling problems or lack of money due to other cost overruns at the end of construction. You might get by with just grading and seeding, or mulching disturbed wooded areas.
STEP 24: Final Inspections, Surveys, Loan Closings (1-3 days)After the completion of the actual house (not the driveway and landscaping), all final inspections from the county or city for building, electrical, mechanical, and plumbing should be made.
Also, Your construction lender will make a final inspection of the house at this time and may require driveways and landscaping to be complete before it will disburse the balance of the construction loan.
When approval is given, your loan officer will coordinate the necessary paperwork and schedule the mortgage loan refinance or modification of the construction loan. The home mortgage lender will most likely require a final survey to be sure no additional structures or additions have been placed on the lot in violation of deed restrictions or zoning. Generally, your mortgage lender will order this final survey and any other necessary documents required for closing.
The actual mortgage loan closing may take only about 15 minutes, depending on the efficiency of the lender. One document you must remember to obtain (your mortgage lender will remind you of it) is a home insurance policy.
Your construction insurance (builders risk insurance) will need to be converted into a homeowners or home insurance policy prior to closing your home mortgage loan. This merely takes a phone call to the agent who issued you the construction insurance policy.
STEP 25: Enjoy your new home! Carl Heldmann
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