Frequently Asked Questions
Once the land purchase is completed, the next step is the acquisition of the permeations for construction with the county. At this point, the initial fees for the “Permit” are paid. This process takes about 1 month due to the need to obtain documents related to the work. Sometimes the acquisition of these documents is carried out, the permit is obtained in 1 day.
We continue with land analysis and construction of the foundation of the house. It is important to say about the need for inspections for each phase of the work.
The house will be built according to the project previously approved by the investor, following the schedule of inspections imposed by the county.
Once the work has been finalized, the “Impact fees” fee is paid together with the final inspection of the house. If approved, the Certificate of Occupation is obtained.
Acquisition of land:
- Form of identification (copy of Passport).
- Sign the land purchase contract.
- Possibly present a document showing capital for the closing of the property.
- Make payment of the land deposit.
- Sign the closing of the purchase of the land.
- Make the final payment of the land.
Approval of documents for construction:
- Sign construction contract with Martins Development LLC
- Provide warranty deed (Land writing) for the application of the allows with the
- Sign Notice of Commencement “NOC” (notification to the county we are starting construction)
Sale of the property:
- Sign a sales contract
- Sign documents related to the sale of the property sent by the title company.
- Provide instructions for transferring the money from the sale of the property.
The acquisition of the property is made on behalf of the investor. In addition to
signing the construction contract, the investor must sign the contract for the
purchase of the land and the contract for the sale of the property.
The construction process was classified into five stages:
- Deposit (between deposit and the beginning of the 1st phase is 4 weeks)
- Payment for the first phase of construction (3 weeks)
- Payment Second Phase of Construction (6 weeks)
- Payment Third Phase of Construction (3 weeks)
- Last Payment Due After Certificate of Occupation
In exceptional cases, there may be an addition of values or requirements
not included in the initial contract. Examples such as changes in the layout
of the house and in the choice of the finishing material different from the
original project of the property (Floor, vinyl, faucets, and windows).
It may also entail, in additional values, the choice of the land with additional in the
system of Duke and TOHO (Energy and Water Companies). It is possible to
predict and anticipate the entire cost of hydraulic parade and we always try to
negotiate during the acquisition of the land.
In view of the electrical part, the addition of extra values will be identified only
during the electrical engineering part of the energy company and, unfortunately,
we have no possibility to predict or control this.
The amount included in the contract with Martins Development LLC is $881.00.
If the diagnosis of the engineers points to some exceptionality and there is a
request for some additional amount to the collection, it will be presented to the
investor identifying that our responsibility in the amount of $881.00 has been
paid and the difference should be paid by the investor. The highest amount
ever charged to date was $1,500.00 but this is a rare event.
After the completion of the contract between the parties, a deposit charge will
be sent, an amount negotiated in the contract, for the beginning of the
documentation of construction permits, the other construction values will be
charged according to the progress of the steps above, amounts charged as
stated in the contract.
Note: for a stage to enter into progress it will be necessary to pay the amount
signed in the contract, otherwise it will be stopped thus delaying the delivery
time of the house.
The technical responsible for the preparation and approval of the project will be Martins Development, LLC.
The post-work person will be Martins Development, LLC. The deadline
according to American law is:
First-year – Workmanship (any possible damage by labor) – Machines and
appliances – are covered by the factory warranty. – 10 years – Structural part.
The form of commercialization would be the use of the online systems used by
our realtor such as: MLS, Zillow, Realtors.com, Homesnap, and Trulia, among other websites.
The rate is usually 3% for the realtor representing the investor, 3% for those
representing the buyer, and 2% for the title company rate. All fees are paid by the investor.