Why Do You Need a House to Be Inspected By a 203K Consultant before Buying It?
Have you found your dream house but it is somewhat a fixer upper? This happens all the time and there are many people who are reluctant to let go of the opportunity present in front of them. If you are one of those people, you are in dire need of a 203K consultant.
A home repair loan is hard to get and the interest rates on them are even harder to pay. However, hiring a 203K consultant through Beryl Engineering and Inspection, you can make your dream house into your reality.
The question here arises why you need a 203K consultant.
Do You Need A Home Repair Loan?
A 203K consultant helps you take a home repair loan after you have bought the house. This usually includes damage repairs that are above $35,000. The consultant visits the site and inspects the damaged areas that qualify for repair. However, the lender requires a little more than you telling him/her about the damages. He/She usually requires a detailed report and analysis that outlines the problems and the amount of money needed to repair them.
At Beryl Engineering and Inspection, the 203K consultant service follows the following steps:
- The home inspector visits the house to see if the repairs are possible
- A comprehensive report is made that states the recommended, desired, and mandatory repairs
- Project specifications are outlined
- Cost analysis is made for the entire project
- Lender and contractor bid packages are made
- Packages are sent to the lender, borrower and contractor
- Funds are transferred to an escrow account
- Permits are issued
- Remodeling begins
- Inspections as work progresses
- Punch list is created
- Lien releases and warranties are collected after completion of project
Our 203K consultant makes sure that the work is done according to these steps. So, this is why you need to hire a 203K consultant if you are trying to get a home repair loan. This 203K loan covers all the major damages and repairs, which are hard to cover through a normal loan.
Beryl Engineering and Inspection is an independent company so rest assured there will be no FHA or HUD problems. Call us now at (813) 358-0405 to schedule an inspection from one of our qualified 203K consultants to fix your dream house.