If you haven't heard enough irony....

Yesterday I closed on a construction loan to build my homestead. During the closing I was told that before we could request a draw, we have to have bought and installed the items for which we wish to get the money. For example, to get reimbursed for windows, I have to purchase and install the windows with other funds. So basically, since I do not have the money to prebuy everything, I now need a loan so I can use my construction loan. The bank said, its not a big deal....  general contractors a lot of times have a line of credit. Well guess what. Mine does not. Additionally, my general is doing this build for next to nothing, so I can't possibly ask him to bankroll this project for me. In what galaxy is this normal? It certainly wasn't normal the first time I built a house. Perhaps this is the  "new normal" everyone's been talking about.

That seems crazy!

Definitely crazy. They even send a bank employee to the build site to verify the item is installed before they will cut a check.

That's completely bonkers. What the hell kind of sense does that make?

Trying to develop a creative strategy.... Thinking of having my general bring my loan draw schedule and proof of approved loan to the lumber company to see if they will give a 30 to 60 day credit period.

My Not for profit was once investigated by the state for not spending the money they hadn’t given us.