203k Inspection | Considering a 203K Loan? The Inspection is Key
203k Inspection | Purchasing a home that needs restoration can sometimes be done with a 203k loan. While it
can work out nicely to buy a less-expensive property that needs work you don’t want to wind
up in over your head on this kind of project. This is why 203k inspections are so important.
Beryl Engineering & Inspection can handle a Limited 203k inspection for you, to make sure the
property in question is a good fit for this plan.
Has to Pass
One of the keys to the 203k program is the fact that a property needs to pass a 203k inspection
before this type of loan can be approved. This is not the same as ‘passing’ a traditional home
inspection as most buyers would hold those kinds of purchases to a higher standard than when
buying under the 203k program. The basics of the home are what is being evaluated. If the
property does not meet HUD standards it may be ineligible for a 203k loan or some work may
be required to be done before the funding can be approved.
Find a Reputable Inspector
It’s important to follow all of the necessary steps correctly when trying to secure funding
through the 203k program. You need to work with a company that has completed 203k
inspections previously and knows the process well. You don’t want to be let down once you’ve
purchased the home just because you selected the wrong inspector for the job.
We would be happy to handle the inspection side of the deal if you are in the process of seeking
out a property for a Limited 203k loan,. Contact us today to learn more about what we can
offer at Beryl Project Engineering.