Initial inspections by the HUD consultant can sometimes be overwhelming...   "Seems like a lot more work than we expected!"...  This may be the case... but not always.

 

Remember, this estimate is just that ..  AN ESTIMATE!  If you find a contractor that has given you a price, OR you take the Consultants Work Write-up and start shopping for a contractor, here is the million dollar savings key...

 

YOU DON"T HAVE TO SHOW THEM YOUR HUD CONSULTANT'S NUMBERS!!

 

Have the Consultant give you a copy, sans el numbres (sp.????).  If they don't do that, just white out the numbers and utilize that write up for handing out to prospective contractors... this will allow a contractor to bid on his own.

 

ALSO... when possible, LET the contractor know you are getting bids from other contractors... You usually get them to put their best foot forward first. :)

 

At the end of the day, the HUD Consultant's Write-Up is just a roadmap to getting your numbers worked out with your contractor.  By and large, the contractor's numbers will be closer to the final numbers you go with on the project. Utilize your consultant to "consult" on how fair his prices are and if he believes this contractor is capable for the job.  Consultants can wear many hats, break out the hatrack ;)

 

Any further questions, just shoot me and email... I would be glad to help :)>

 

Enjoy life, buy houses, build equity! 

 

La Vida es Corta. ;)

 

Kluge Out!

 

Brent Kluge

 

Cell: 410.591.8300

Fax: 888.557.5271

info@203kworld.com

www.203kworld.com

 
This post has been included in Maryland Real Estate News
Post is included in group: Mortgages

1 Comments on FHA 203k - What to do with the initial HUD inspection...

SEP
02
2010

Brent is right on here...

As a 203K consultant I provide a report that's specifically designed to allow for attaining more than one bid. The report details all items I've spelled out as mandatory by HUD, wish items of the client and/or recommendations by a particular professional (foundation, etc).

I email this report in PDF format to the client (usually within 48 hours of the initial inspection date).

I invite you to join this free 203K forum and share your thoughts and experienances with the 203K Loan.

http://www.203kforum.com

Gary Smith
Gary Smith
8:04am • #1


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