hud fha 203k consultant san francisco: Who prepares the scope of work for an FHA 203k project?
- 04/02/14 01:20 AM
That is actually a very good question... the answer can cause you delays in closing if you choose wrongly.
The consultant is typically the first one on the job. The consultant and client create the scope of work and includes the "FHA Must Do List" and add the clients "Wish List". Together these will make the "scope of work". This scope of work is then sent out to bid. The contractor bids the list and they all bid the same list this way.
What we are seeing of late is that some lenders or loan officers are having the contractors come … (4 comments)
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hud fha 203k consultant san francisco: The renovation scope of work was changed from the consultant's scope
- 04/24/13 02:59 PM
What happens if the consultant visits the property and the entire scope of work isn't what was agreed to? What are the options? Yike's and Holy Crap as the father on "Everyone Likes Raymond" show used to say.
The consultant works with the borrower to determine a "scope of work" and that "scope of work" is what the appraisal is based on therefore it MUST be completed. Some time ago I got a call from NJ from a consultant who told me that he was called to perform Draw 1 on one of his projects with the contractor called him and … (0 comments)
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hud fha 203k consultant san francisco: What happens if we can't get our renovation project finished on time?
- 04/22/13 04:05 PM
What happens if we can't get our project completed within the time frame set by the consultant?You may need an extension of time to complete the project.
Each construction project has an estimated date of completion set by the consultant or the lender and based on the amount of construction. Variables exist that include the current schedule of the contractor at the time of the closing. If the contractor is notified the loan closed and they can start working asap, does't mean they have to drop everything and begin your project.
1) What really happens is that the contractor is notified of the … (8 comments)
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That is actually a very good question... the answer can cause you delays in closing if you choose wrongly. 
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