How to Manage Your Home Building Process

Inspection Process

Our draw process also sets BankSouth apart from other institutions. A draw is a payment made to your builder after an individual phase of construction is complete. Inspections are required after each phase to ensure it is complete and funds can be paid to your builder. BankSouth handles this process by sending you the inspection report, along with your builder’s invoice, for your approval via email, and once you approve, BankSouth handles the transfer of funds for you to your builder. 

Other banks have their lenders complete inspections after each phase of construction. Lenders have a variety of responsibilities on top of loan inspections, such as creating loans and meeting with clients. Since inspections are not their primary job, this can slow down the money withdrawal process.

Here at BankSouth, we have our own third-party contractor who completes inspections. This means your inspections are their top priority, and they are especially skilled at conducting these inspections. Each inspection comes with an extensive construction report, which is particularly beneficial for customers living out of town who cannot regularly visit the building site themselves.

Have questions about the inspection process? Get in Touch

Unlimited Withdrawals

Some banks only offer a limited number of draws. This means you are only going to get a construction report after each construction phase has been completed. At BankSouth, we offer unlimited draws. Even if you are not done with a construction phase, but want to see how your project is going, we can send our inspector out to give you a full report. If you live out of town, there is no need to worry because these reports empower you as the homeowner by keeping you well informed of your home’s progress. Unlimited draws are beneficial to you because having an expert review the construction site ensures that your home building process is running smoothly and your new home is up to standard. Keep in mind, however, that a construction draw inspection is not a substitute for your engagement of a competent home inspector independent of the contractor or bank to give you a final opinion on the quality of the construction and any needed repairs or corrections.

Want to know more about our draw schedules? Get in Touch!

Own Your Own Building

Why Rent When You Can Buy Your Business Location?

We understand that you may have started in the garage, your basement or even your kitchen table.  But that was then, and now you’ve outgrown your humble beginnings and need to expand.  BankSouth has over 75 years of experience helping businesses expand and grow by financing new digs.

You may be ready to write your last rent check and own your own business property or acquire a second location to house your inventory or expand to a new location across town.  BankSouth can work with you to finance the acquisition that makes sense for you.

With our local decision authority, BankSouth is ready to help you take that next step. 

Talk to an Expert >

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Praeterea iter est quasdam res quas ex communi.

Your financial future is about more than banking. That’s why we help you find the dedicated realtors for your home and your best insurance rates for, well, everything. Your economic well-being matters to us. We want to make sure you’re taken care of everywhere.

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Own Your Own Building

Why Rent When You Can Buy Your Business Location?

We understand that you may have started in the garage, your basement or even your kitchen table.  But that was then, and now you’ve outgrown your humble beginnings and need to expand.  BankSouth has over 75 years of experience helping businesses expand and grow by financing new digs.

You may be ready to write your last rent check and own your own business property or acquire a second location to house your inventory or expand to a new location across town.  BankSouth can work with you to finance the acquisition that makes sense for you.

With our local decision authority, BankSouth is ready to help you take that next step. 

Talk to an Expert >

Optional Pre-Title

Praeterea iter est quasdam res quas ex communi.

Your financial future is about more than banking. That’s why we help you find the dedicated realtors for your home and your best insurance rates for, well, everything. Your economic well-being matters to us. We want to make sure you’re taken care of everywhere.

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