Can I use more than one contractor on my 203k project?

By
Home Inspector with 203kOnLine.com, covering the USA S0289

Recently had a call from a consultant regarding the following scenario... The borrower wanted to do self-help and manage two contractors on the project. ON the surface it seemed doable. Then the lender said, "we don't do self-help". How can we still get the 203k accomplished? Let's hear from you on this if you have run into this issue in the past and share how you handled it?

 

We have completed a few with multiple contractors on the same job and they were all nightmares. We don't recommend that you do this.

 

The big thing is that no contractor wants to be on the job with another contractor due to the liability issue. What if Contractor A is insured and Contractor B isn't but has an accident on the job, it becomes unclear as to who is responsible and whose insurance should cover the accident. It isn't unclear to us, but it might be to a judge and a jury. 

 

 

 

 

 

 

downtown 3-4-2019

Posted by

Mike Young, 203k Team Leader    Mike ready for your 203k order

To learn more about the FHA 203k loan program go to www.203kOnLine.comWhat is your fee? 

Got a 203k project giving you "fits" contact www.203k911.comIf you are looking for quality 203k software for consultants to speed up the underwriting process..

Skype name: the203kconsultant

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Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have had clients use many contractors as most specialize in the type of work they do

Mar 14, 2019 06:29 PM #1
Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Mike Young very valuable educational report for using more than one contractor on 203K project.

Mar 15, 2019 06:15 PM #2
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Mike Young

FHA 203k Consultant 916-758-1809
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