• Search Homes
    • My Account
    • Contact Us

Christina LynchChristina Lynch

Christina Lynch

888-896-5556
agent@stlexpert.com
  • Menu
  • Home
  • About
    • Reviews
  • Blog

New Home Construction Purchase

If you are purchasing a property that is newly constructed.  You need to keep the following things in mind on those transactions:

• Mechanic’s Lien issues are the #1 title insurance claim in the state of Missouri- be sure you are receiving mechanic’s lien coverage on their owner’s policy of title insurance.
• If the builder is selling a spec home- the title company will consider it to be new construction. 
• The title company will need to know if the builder disbursed his funds on the project through the bank, through a disbursing company/title company or if they self-disbursed.
• If the builder self-disbursed, have the title company first check to see if the builder is on their underwriter’s approved list.
• If the builder is not on the approved list, they will need to get a Certificate of Disbursement from the bank or title company that disbursed the funds.
• If the builder self-disbursed AND they are not on any approved list, the title company will need to review the appropriate documentation from the project (i.e. cost breakdown, all invoices, and lien waivers from all contractors and suppliers).  Please note:  There may be a fee for this service.
• Be sure to let your title company know that the property is newly constructed early in the process so that all parties have enough time to get the appropriate documentation together.
• Many builders will supply their buyers with a survey.  If this is the case, be sure to find out what type of survey the buyer will receive and whether or not there is any charge associated with it. 

Jack Forsythe
Legal Counsel
(314) 835-4105
“Secure Your Investment With Security Title”

Share this:

  • Click to email this to a friend (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Twitter (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Posted in: Title Tips

See what our clients are saying!

Still LOVE my home – thank you!!

Lynn B. Ballwin, Missouri

Thanks Jim. I was prepared for a miserable experience. You took the worry and tension out of selling.

John Walsh Seattle, Washington

We had the best experience during the purchase of our first home with Jim. We love it. One of my best friends is a Realtor and I have already told her that when I move, Jim Hurley is the one I work with.

James Fagan Ballwin, Missouri

It was our first home and we spend several months looking. Jim never lost patience. He spent hours educating us and helping us through the process. He’s always smiling and positive…. Linda and Steve Green St. Peters, Missouri

Linda and Steve Green St. Peters, Missouri

I wasn’t really considering buying a new home but one I had looked at before we bought the last one, which I loved, came on the market. I called Jim and we moved 45 days later with no problems. He really cares about the people involved in the process.

Tina and Tom Shinner Kirkwood, Missouri

<< Prev
Next >>

Post navigation

« Weekly Residential Activity Report for St. Louis Metro Real Estate
All Real Estate is Local by David Lereah »

Contact Expert, REALTORS

888-896-5556
agent@stlexpert.com

2 City Place Drive, Suite 200 St. Louis, MO 63141

Follow Us:

Featured Properties

Testimonials

default image

Still LOVE my home – thank you!!

Lynn B. Ballwin, Missouri

default image

Thanks Jim. I was prepared for a miserable experience. You took the worry and tension out of selling.

John Walsh Seattle, Washington

default image

We had the best experience during the purchase of our first home with Jim. We love it. One of my best friends is a Realtor and I have already told her that when I move, Jim Hurley is the one I work with.

James Fagan Ballwin, Missouri

default image

It was our first home and we spend several months looking. Jim never lost patience. He spent hours educating us and helping us through the process. He’s always smiling and positive…. Linda and Steve Green St. Peters, Missouri

Linda and Steve Green St. Peters, Missouri

default image

I wasn’t really considering buying a new home but one I had looked at before we bought the last one, which I loved, came on the market. I called Jim and we moved 45 days later with no problems. He really cares about the people involved in the process.

Tina and Tom Shinner Kirkwood, Missouri

<< Prev
Next >>
© 2021 · Expert, REALTORS · 888-896-5556 · Agent Center · Sitemap · IDX Sitemap
Disclaimer - All Rights Reserved by findingstlouishomes.com

Terms And Conditions | Privacy Policy

Log in ·
loading Cancel
Post was not sent - check your email addresses!
Email check failed, please try again
Sorry, your blog cannot share posts by email.