Build on Your Own Lot

Step 2

Execute Construction Agreement. Deposit Due (2% of total sales price)

• Upon execution of the Agreement, the feasibility will continue with soil testing, foundation design, survey, etc.
• Remember, the sales price may be adjusted during this phase of the process based on the potential extra costs associated with the lot.

Step 3

If you are planning on paying cash, the full purchase price will need to be put in escrow with Austin Title within 10 days of the executed Construction Agreement (Effective Date). If you intend to obtain construction financing, you must submit a loan application within 5 days of the Effective Date of the Agreement. The Construction loan must close and fund within 90 days of signing the Agreement. The purchase price of the home will be paid in periodic payments as set out in the draw schedule. Remember to have your lender sign the draw schedule!

Step 4

Plan on making design center selections for your home and have all selection and changes completed and paid within 10 days of the Effective Date of the Agreement.

Step 5

Within 2 days after the Effective Date of this Agreement (if you already own your homesite) or funding of the loan (if homesite is to be purchased at the same time as the construction loan funds), you will provide Streetman with a copy of the deed (or a copy of the contract to purchase) to the property at which time you will grant Streetman exclusive possession of the home site.

Step 6

Once the loan funds, permitting begins.

Step 7

Construction begins! Once the final draw is paid to Streetman Homes and you have signed the Affidavit of Acceptable Completion, you will get your keys!

Step 8

Warranty begins as outlined in the Streetman Homes Customer Care Program.