MOVE MOUNTAINS

Our adventures begin!

We have been pre-approved by a local bank for a construction loan, which then rolls over to one big re-fi.  But there are limits, many limits.  The two most challenging ones are:  1.  We have 12 months to build the addition (the term of the construction loan).  At the end of 12 months we must receive a 'certificate of occupancy' from the building inspector (more specifically all the certificates of approval).  2.  Banks really don't want the home-owner to be the general contractor.  Hmmm, we understand some of their reasons, but folks in our income bracket can't afford a general contractor.  So it turns out we gave the bank a strong enough argument about economic injustice and a good tootin' of my own horn and ability to move mountains and get shit done -- because between us, our family and friends who are pretty darn handy and creative, the bank is allowing us (with lots of help) to be a part-time GC; they accepted our hybrid-GC proposal!   Is that a small town bank for you or what!?   Once we receive the loan we'll tell you who the bank is! 

Today I met with the building inspector to find out exactly what we need to have completed in order to get the certificates of approval (the key thing the bank requires).  Though it's no walk in the park, there are several things we don't need to worry about  - like all interior finish work - PHEW, 'cuz that helps with the bottom line and the time-line.

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