|
LOUISIANA REAL ESTATE INSPECTION INCORPORATED Licensed
Home Inspector #10012 938
LAFAYETTE STREET
. SUITE 432, NEW
ORLEANS, LA 70113 OFFICE
504-525-4398 FAX
504-525-4399 E-MAIL: apolmer@aol.com |
|||
|
|
FHA
203K A ONE TIME CLOSING REHAB LOAN WITH A 3% DOWN PAYMENT, WHICH ALLOWS
A HOMEBUYER TO BORROW FUNDS TO PURCHASE AND RENOVATE A HOME USUALLY THESE LOANS CAN BE CLOSED WITHIN 30-45 DAYS, LIKE ANY
OTHER LOAN PROVIDED CERTAIN DOCUMENTS HAVE BEEN SUBMITTED IN A TIMELY MANNER USE OF AN HUD APPROVED 203K CONSULTANT FACILITATES THIS
PROCESS CONSULTANT’S JOB: HELPS
THE LOAN CLOSE FASTER! 1. INSPECTS
THE PROPERTY FOR “HEALTH & SAFETY” DEFECTS (ELECTRICAL, PLUMBING,
HEATING, ROOF AND
STRUCTURE)
2. LISTENS
TO BORROWER REGARDING OTHER DESIRED IMPROVEMENTS (ADDITIONS, KITCHEN & BATHROOM UPGRADES, DECK,
FENCING ETC.) 3. HELPS
DEVELOP A CONSTRUCTION PLAN AND BUDGET 4. PREPARES
A “BALLPARK COST ESTIMATE” FOR THE BORROWER & LENDER 5. REVIEWS
CONTRACTORS PLAN & BID 6. PREPARES
A HUD “WORK WRITE-UP” (11 PAGE) DOCUMENT FOR APPRAISER BASED UPON
CONTRACTOR’S BID 7. PREPARES
HUD PLAN REVIEW & DRAW SCHEDULE WITH LINE ITEM COSTS 8. AFTER
CLOSING, DURING CONSTRUCTION CONSULTANT VERIFIES COMPLETED WORK FOR LENDER
RELEASE OF ESCROWED FUNDS |
|
|
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
