Home Inspection| Do you plan to buy a home that is in a poor state? A 203k consultant can help you to apply for an FHA 203k rehabilitation loan as the perfect way to renovate the building you intend to purchase. First, you need an FHA home inspector to establish the required repairs as well as the financial estimates of the renovations.
For home buyers, a home inspection report is an essential part of the real estate property price negotiations. The report provides people intending to apply for 203k mortgage loans insight into the cost of renovating either single-family or multi-family residential houses.
203k Consultants Home Inspection Analysis
Once the FHA home inspector provides a detailed structural condition assessment, the 203k consultant will do a feasibility analysis that helps to quantify the cost of renovating the residential property to adhere to HUD property standards. The structural condition assessments look into the 203k repair issues below:
• Electrical installations, HVAC, and plumbing.
• Physically challenged and elder citizens access improvements.
• Paint stabilization, mold remediation, and termite repairs.
• Asbestos removal.
• Basement remodeling.
• Sewer renovations.
• Flooring, bathroom, and kitchen remodeling.
How 203k Consultants help after Home Inspection
203k consultants document the planned rehabilitation. The appraiser also advises if the repairs match the quoted home value. Analysis reports include the tie-down inspection or manufactured home assessments. Tie-down reviews must involve consultants not holding expired permits to meet the HUD/FHA manufactured homes basement and foundation specifications. For instance, tie-down loan programs may require the anchoring of mobiles homes on a hurricane, hailstorms, and windstorms defense features.
Following the inspection, the 203k consultant helps you to find out the exact amount required for repairs. The assessment may also guide on home purchase price negotiations. Typically, 203k consultant report is the basis of price adjustments.
At Beryl Project Engineering, we can provide you with our expert home inspectors. Proudly serving the Greater Tampa Bay Area to include Hillsborough, Pinellas, Pasco Counties, Tampa, St. Petersburg, Clearwater, Brandon, Plant City, Palm Harbor and Lakeland. Contact us at: 813-358-0445 to book today.