Sunday, May 20, 2012
203(k) Inspections
We know that purchasing a home is one of the most stressful things you'll ever do.  Purchasing a home with an FHA 203(k) loan can make it all the more stressful.  That is why you need a consultant.  We maintain on our staff four of Florida's best HUD Certified 203(k) consultants and have quickly become one of Florida's premier 203(k) consulting company.  Over the past two years we have consulted on over 125 of Florida's 203(k) loans and we work closely with some of the primary 203(k) lenders in Florida, such as Wells Fargo, Freedom Mortgage, Bank of America, Towne  Mortgage, and Prospect Mortgage, to name a few.
 
If you have just embarked on your first 203(k) journey, we know you have questions.  Feel free to call our office and speak to our owner, Andy Shirley who will help walk you through the process.
 
We can answer one question right off the bat for you.  How much is this going to cost?  HUD dictates the fee schedule for 203(k) consultants and we strictly follow it.  We use the HUD-published fee schedule for 203(K) consultants as printed below.
 
If the rehab is:                                                       The fee will be:
                Less than $7,500.....................................................$400.00
                Between $7,501 and $15,000....................................$500.00
                Between $15,001 and $30,000..................................$600.00
                Between $30,001 and $50,000..................................$700.00
                Between $50,001 and $75,000..................................$800.00
                Between $75,001 and $100,000................................$900.00
                Over $100,000.00....................................................$1,000.00
 
Any applicable mileage will be added to the appropriate fee.
 
Draw inspections are $150 each (plus applicable mileage).
 

Terms
When the approximate rehabilitation costs are known prior to the consultation visit the initial consultation fee is based upon those costs.  Otherwise, the minimum fee of $400.00 will be assessed.  The initial fee must be paid in advance prior to the consultation visit (or at the time of the visit). Any additional fees due as a result of the final cost-to-repair report known as a Work Write-Up (WWU) or Summary of Repairs (SOR) will be billed for payment at closing.
 
Ready to order?  Go to the top of the page and click "Request an Inspection" and then choose the link for the 203(k) Inspection Request.  Fill out the form and submit it and your consultant will contact you within 24 hours.  We look forward to serving you soon!
When the approximate rehabilitation costs are known prior to the consultation visit the initial consultation fee is based upon those costs.  Otherwise, the minimum fee of $400.00 will be assessed.  The initial fee must be paid in advance prior to the consultation visit (or at the time of the visit). Any additional fees due as a result of the final cost-to-repair report known as a Work Write-Up (WWU) or Summary of Repairs (SOR) will be billed for payment at closing.
 
Ready to order?  Go to the top of the page and click "Request an Inspection" and then choose the link for the 203(k) Inspection Request.  Fill out the form and submit it and your consultant will contact you within 24 hours.  We look forward to serving you soon!