CB Pugh Enterprises, LLC
A General Contracting company that specializes in the construction of single family homes. Over the last several years we have become familiar with the industry practices, market tendencies, pricing criteria, as well as client procurement. During this time we have gained valuable experience as well as the benefit of identifying a niche area that has been left unexplored by most single family home builders.
We aim to assist individuals that are currently renting and provide them with education and opportunity that will allow them to build wealth through home ownership. With the current economic and foreclosure epidemic facing the country that has contributed to the high rate of renters, we have recognized the opportunity to assist individuals who have never purchased a home or thought they were able to purchase one. We have created a 1st time Home buyers program that we believe sets us apart from our competitors that is designed to produce home ownership and favorable equity positions for our clients.
Typically, most builders operate utilizing a speculative strategy, which involves the risk of building a home, or a volume of homes, to be placed on the market upon completion, through a realtor or broker placing the home(s) on the MLS, with the expectation that the end-buyer will be found once the home is ready to be sold. This approach worked well until the real estate market suffered a nation wide slump that left builders unable to unload their enormous amount
of inventory. This left builders unable to meet their funding obligations to their lending sources and forced some out of business.
CB Pugh Enterprises has chosen to operate using a different approach in which we will only begin construction once we have secured a pre-qualified buyer. We will locate our buyers through a series of seminars, direct mailings targeting renters, and handing out of company brochures.” Once we have secured a potential buyer, we will enlist them in a program designed to assist them in acquiring a mortgage from our list of funding sources.
Once the mortgage amount has been identified, we will know how much house our buyers can afford. We then schedule a consultation with the buyer to choose a floor plan and lot selection. Once completed we put together the construction package (contract to build, contract to purchase lot, site plans, itemized build costs, pre-qualification letter, and floor plans) to submit to our lender to obtain the funds to build.