Home, Land, Property Buying and Selling - Bankrupt builder

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nametag
02-14-09, 09:50 PM
I have a property that I am interested in. The builder went bankrupt, so the bank now owns the property. From what I have been able to gather, the house is 60% complete.
1. Do I have to get a contstruction loan?
2. Do I have to get a certificate of habitability before I can move in and what is considered habitable. ie. all the bedrooms done and all the bathrooms done, or what.

Basically, what is the best way to move foreward to get this house?

Thanks

marksr
02-15-09, 06:10 AM
Most anywhere in the USA you have to have a certificate of occupacy before you can move in. This is usually inforced by the requirement for a CO before utilities can be turned on. Some locales are stricter and some more lenient than others. Your local inspector would be your best source of info.

I don't know about the loan aspect:(