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When is a Feasibility report warranted for the FHA 203k program?
When is a Feasibility report warranted for the FHA 203k program?
A buyerI hired a consultant out of state and for one of our lender clients. We (the borrowers) provided a contractor's bid as their "wish list" with the entire project laid out and ordered a full consultation.
The consultant they hired become invisible, no communication, none whatsoever, they tried to find out if the inspection had been set up... finally the consultant called to say he had completed the inspection, A week or two later the "consultant" turned in what he called a Feasibility Study, which they didn't ask for. [It is just another way some of the consultants will try to get deeper into your pocket.] 
[If you are going to run a business like a business it really is a good idea to communicate with the one that brought you to the dance.]
Here is the issue... the Feasibility report was non responsive, it ignored the contractor's bid items and contained what the "consultant" thought should be done. Had this been completed properly as a consultation rather than a feasibility report it would have included the contractor's wish list items as well as other items that the "consultant" may have elected ... more

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