I have a lender giving me what seems to be an overly egregious ask in my opinion. I've been asked by my construction lender in the 11th hour to have my Stipulated Sum contract with my GC to be a minimum of 85% bought out prior to closing. This seems super unreasonable, am I crazy? I had always thought that is a process that kicks of after financing is in place (i.e. the loan being closed). Seems a big risk to have me take to then have them possibly walk away at the last minute given I will have to front some cash to the GC to get pricing locked in on some of these subcontracts.
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