When financing land development,the lender generally requires the developer to submit which of the following?
A)A detailed breakdown of project cost
B)Required zoning changes
C)Bank references for the general contractor to be used on the project
D)All of the above

Question

Quizplus · Accepted Answer

When financing land development, the lender generally requires the developer to submit a detailed breakdown of project cost to ensure they are not lending more than necessary. Required zoning changes may also need to be submitted to verify the project meets all necessary legal requirements. Additionally, the lender may ask for bank references for the general contractor to be used on the project to ensure they are reliable and experienced in handling similar projects. Therefore, all of the options mentioned in the given choices are necessary for a lender to ensure the land development project is viable and profitable.

When Financing Land Development,the Lender Generally Requires the Developer to Submit