Renovation Consulting & Initial Property Assessment Inspectors for Residential Housing

Renovation Consulting

If the residential property being considered for purchase by the buyer is in need of repairs and the scope of the work to be done exceeds beyond the 203(k) streamline guidelines, then the involvement of a 203(k) HUD Consultant is needed.

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Consultant's Role

  • To help the borrower/homebuyer make an informed decision before purchasing the property and provide an idea of ptential rehab costs and FHA requirements
Initial Site Visit/Consultation

  • Consultant will perform a thorough examination of the property (it is not a Home Inspection)
  • Consultant will perform a Initial Property Assessment (IPA) to determine FHA required repairs, and will also input the buyer's list of requested additional repair or remodel items
  • Consultant determines the estimated cost of the Scope of Work, does not make a decision about which repairs should or should not be made
  • The Homebuyer pays a retainer fee, and the exact fee to be paid depends on the cost of the proposed repair work (the HUD stipulated fee amounts)
FHA 203(k) Lender Work Write-up

  1. Once the bid specs are complete and a cost projection is calculated by the Consultant, the specs are reviewed by the borrower for corrections, deletions, or additions
  2. The Work Write-up will include the borrower's desired grades, as well as what will be required by FHA and building code compliance
  3. The Contractor usused the Scope of Work Contractor Bid package to provide the homebuyer/borrower with a detailed bid that reflects the total cost of improvements, including labor and materials
  4. A Scope of Work document is created by the Consultant for contractor's bid specifications.  This document describes the entire project in clear, unambiguous detail so all contractors bid the same list of required repair and remodel items
  5. Consultant will also prepare the lender packages and contractor bid packages
    • Review of Contractor bid (BOR)
    • Review of architectural documents (mold, well, septic, drawings)
    • Review of lender requests
    • Review of revisions to the Specifications of Repairs (SOR) and BOR
    • Submits all required documents and completionn of detailed work write-up to the lender, contractor, and borrower

Homeowner's Role

Homeowner’s Role
  • Communicate with your Contractor throughout the Renovation Process until the project is completed
  • Any concerns and/or issues during the renovation project needs to be resolved between homeowner and his/her Contractor
  • Bill Evans Home Team are not mediators and cannot resolve any disputes between homeowner and contractor during the renovation process
  • Homeowner can contact Bill Evans Home Team Front Office to schedule the First Draw Inspection, and thereafter
  • CANCELLATIONS – CALL the front office the day before the confirmed appointment and reschedule with the front office and notify the Contractor also

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FHA 203k/Homestyle

203k Consulting

Two types of 203k's

Limited (formally Streamline)

Use of a 203k consultant is optional but may be required by the lender. Discuss with your lender who will provide the guidelines needd for this type of loan.

Standard 203k

Use of a 203k consultant is mandatory for a Standard 203k loan.

How does it work?

Two major phases of the program includes developmental phase to settlement and construction phase to completion.

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Our Commitment

We Do 4 Things 1 Way
  1. Provide Great Service
  2. At a Fair Price
  3. Accurately Performed
  4. Promptly Delivered

The 1 way: 

With Honor to Our Customers and to Their Customers