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Lenders

Your consultant should be an integral or central player of the 5 member team:

1. Consultant
2. Lender
3. Client
4. Agent
5. Contractor

 

Your consultant should organize and facilitate clear communication between the team members. They should help diffuse the complexity of the 203k program by offering one if not all of the following:

1. Homeowners Wish List – A blank document that’s sent to the client at the first meeting (if not before).
2. Comprehensive Website – An easy to navigate website with support information is a must.
3. Explain the 35 categories needed to produce a complete bid. – Eventually the cost data used to produce the bid will be sent to underwriting. Help the client understand where the cost of each item might be placed.
4. Offer clients a description of the 203(k) in a time line. – Staying on schedule is as important as staying on budget. A well informed client will better understand when the project seems to be taking too long.

Eight attributes of the Consultant. Here’s my plain talk “must have” Attributes to look for in a your 203K Consultant:

1. Experience in construction estimating
2. Internet “savvy”
3. Keep current software
4. “Hands-on” field experience
5. Home Inspector background
6. Ability to write reports
7. Knowledgeable in energy and building science
8. Versed on Code Requirements
9. Knowledge of Hazardous Building Materials and Regulations ( ie: Lead Paint, Asbestos) EPA RRP Rules
10. Is available – Manages time well and most of all does not waste your time or your client

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