Page 6 - Hansen Homes of South Florida, Inc

Step Four

Financing.

If there is no financing by a third party, the buyer(s) will be asked to set up an account at Cape Coral
Title for the full amount of the project. The account is set up in the buyer(s)’ name(s) only and said
buyer(s) will have full control of the funds at all times. There is a $100 set up fee with the Title
Company. Payments will be made from that account by you according to a preset payment
schedule. Final payment will be made upon confirmation by the buyer that all has been completed
and all proper documentation from Hansen to the buyer(s) is in place.
If there is need for a Lender, please check the Lenders on our preferred Lender List in our sales
packet. Just as you need to be approved to obtain a loan, so must we be approved as a builder by
any Lender that is involved. This list represents some of the Lenders that we are already approved
with and that have shown to be experienced and efficient in obtaining loans for our buyers. The
type of loan is called a “Construction to Perm” loan. This loan has only one closing that takes place
just prior to the commencement of construction. Using a Lender from our list, will expedite your
loan approval process and make the whole process a little smoother.

TIME FRAME

From contract time to processing and picking up your building permit takes approximately 2 to 2.5
months, depending on the type and amount of changes you are making and the speed at which you
respond to our inquiries, as well as the length of time taken by the Permitting Department in
processing your permit application. During that time, your lender, if applicable, will be working on
getting your loan application processed. Most often the permit is ready for pick up when your
Lender is ready to close on your construction loan.

Once your permit is picked up, you can expect construction to take between four and six months,
depending on the size of your home and the weather. In the rainy season the start of construction is
often delayed a week or two, as it can be near the end when the land is graded and sodded, as it can
be affected by heavy rains.

COMPLETION

When nearing the end of construction, we will schedule a final walk through with you to make sure
all final punch items have been completed. During this time, our office works very closely with your
Lender, if applicable, and you to provide documentation and information needed to obtain final
payment and modify your loan to a permanent loan. Then keys to your beautiful new home are
passed to you.

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