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SITE PLAN APPROVAL

What is Site Plan Approval (SPA)? Site plan approval is a development process that builders go through to have a site approved for new construction. After the process is completed and approved by the building department, the property has increased…

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Biggest Mistake New Builders Make!

What are the biggest mistakes?   PLAN to make money by sticking to a plan.  These are the most important decisions in the following order of importance.   New Builder's most frequent mistake is being too cautious, too careful and…

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HOW TO AVOID GREEDY UNETHICAL MORTGAGE AGENTS

What to expect from a Mortgage Broker and Fees Consulting a mortgage agent or broker to obtain a commitment from a lender can be very nerve wracking and potentially expensive nightmare for an in-experienced borrower. Its unfortunate that we have…

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Beware Of Private Lender FAKES

This is such a serious problem that I feel obliged to talk about it.  It happens a lot in construction financing.  They lend the money just to scoop lender fees on the total loan amount and then stop lending.  So the…

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SYNDICATED MORTGAGES

There are two types of syndicated mortgages. You can invest in a MIC (Mortgage Investment Corporation) or you can be in a private syndicate of a small group of lenders. The Financial Services Commission of Ontario “FSCO” has identified these…

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Don’t Fall For The Bait And Switch Game

Well I have had enough of these phone calls lately to blog about this because it drives me nuts. I often have people call me because they are shopping for a construction loan.   And of course they want to know…

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How To Spot A Bad Construction Loan Commitment

Lately I’ve had some calls from people in trouble because they have accepted a construction loan that didn’t perform. The loan has closed at the lawyers office, its been registered, the fees have all been paid but the full amount…

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Hiring A General Contractor

YOU and the General Contractor (GC)  Often I am in the position of putting together a construction loan for a person who has no experience at all in construction. And they decide to hire a GC to build a house,…

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Top Ten Costly Mistakes – Construction Financing

These are mistakes that can really mess up your project and cost you big time.   Buying a property with a plan to build a new house and not having the proper construction loan in place on day one. If…

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