ma ceu residential new construction

Residential New ConstructionRE46R05

Jody O’Brien

CEU Outline

What is New Construction

Unimproved landSubdivisionSingle Lot

Residential Use of Land

Single Family

CondominiumOver 55

Cluster

Agents Role Estimating number of sites

Estimating Costs

Financing

Factors Limiting Development

Zoning

Lot Size

Frontage

Grandfathering

Factors Limiting Development

Environmental

Wet lands

River Protection

21 E

Factors Limiting Development

Infrastructure

Sidewalks

Traffic Lights

Traffic Patterns

Municipal Services

Approval Process

Planning BoardPreliminary PlansDefinitive Plans

Subdivision Control LawChapter 41 M.G.L.

Poll

Planning Board/Board of AppealsOversees the provisions of the Subdivision

Control Law Adequate access to all of the lots in a

subdivision in a safe and convenient means Lessening congestion adjacent to public

ways Reducing danger to life & limb in the

operation of a motor vehicle Securing safety in the case of fire, flood,

panic and other emergencies

Insuring compliance with the applicable zoning ordinances or by-laws

Securing adequate provisions for water, sewerage and drainage

Coordinating the streets in a subdivision with each other and the public streets

Conservation

Notice of Intent

Order of Conditions

Certificate of Compliance

Types of Builders

“Spec” Builders

Custom/Contract Builders

Menu Builders

Contractual Relationships

Exclusive Right to Sell Exclusive Agency Open Listing

Financing

Builder

Buyer

Financing Fannie Mae Guidelines for New

Construction Condo70% of new project (construction or

conversion)pre-sold20% max non-residential space

FHA Guidelines for New Construction Condo50% pre sold25% max non-residential

Paper Trail

Building Specifications

Builder Warranty

Restrictive Covenants

Reservations

Paper Trail ContractsDeposit monies

Change Orders

Restricting Access

Punch List and Final Walk-thru

ClosingCertificate of Occupancy

Smokes and CO2

Jody O’BrienThe RE/Education Company

Committed to Professionalism in Real Estate through Education

Blogwww.reeducator.wordpress.comPresentationwww.slideshare.net/ReEducationCompanySocial Mediawww.twitter.com/reeducatorwww.youtube.com/msreeducatorwww.facebook.com/reeducatorwww.linkedin.com/in/reeductor

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