Let us help you achieve your goals and new home vision

203kOnLine.com
203kOnLine.com
  • Home
  • 203k911
  • 203k Training & Software
  • Gallery
  • More
    • Home
    • 203k911
    • 203k Training & Software
    • Gallery
  • Sign In

  • My Account
  • Signed in as:

  • filler@godaddy.com


  • My Account
  • Sign out


Signed in as:

filler@godaddy.com

  • Home
  • 203k911
  • 203k Training & Software
  • Gallery

Account


  • My Account
  • Sign out


  • Sign In
  • My Account

How can we be of assistance?

Do you have a construction issue?

Do you have a construction issue?

Do you have a construction issue?

We have seen it all, tell us about it?

Trouble with your contractor?

Do you have a construction issue?

Do you have a construction issue?

Are you at odds with yourc contractor? We may be able to point you in the right direction.

Initial call is totally FREE

Do you have a construction issue?

Initial call is totally FREE

877-207-6565 or fill out the "contact form" below and let us know a bit about your issue. You might say we wrote the book on it.

203k911 - Resolve your construction issues

FAQ

We have professionals that know the 203k program inside and out. Someone who is on YOUR SIDE .

the Most commonly asked questions

These are the most often asked customer questions and answers

Q: 203k911 - How do I fire my contractor?

As a Real Estate Consultant we help you resolve your construction issues. 

A: Are you absolutely sure this is your only recourse? If so then there is a process that most lenders will require that includes:

To start the process for firing a contractor we need a letter directly from the homeowner to the contractor with the following points answered in the letter. It must be hand signed by the homeowner.

  • Letter from the homeowner to the contractor 
  • Informs contractor of their removal from the project
  • Details the reasons for their removal - be specific
  • Subject property address
  • Date of termination 
  • Signed/dated by the homeowner

After that, the file is typically reassigned to another Draw Specialist that will work with the homeowner(s) to validate another contractor. That package will be sent to the homeowner once we have the letter as described above.

Q: I have tried to save money and do the least amount of work possible... why did it take forever ?

 A: I hear this all too often. You just created "construction issues" any time you change the scope of work. The buyer thinks they are doing themselves a service by keeping the 203k construction cost as low as possible then putting their own money into the project.

The problem with that is that the additional work they want to do with their own money gets in the way of the  contractor finishing his work most of the time. This causes a rift between the borrower and the remodeling contractor because the contractor can't get his hold back till all of the work is completed. The other, and sometimes greater issue is that had they put that additional money down they might have been able to get a better, less costly loan.  FHA loans have PMI (Private Mortgage Insurance) that stays with the loan for the term of the loan. A $600,000 loan amount would have an insurance premium of about $510 per month... had you used the FNMA product you would be saving that expense. As a real estate consultant, we help you resolve your construction issues. Contact 203k911

Q: Can I change the scope of work after the loan closes or is this considered an appraisal issue?

A: The appraisal was completed based on the work being completed so you cannot just arbitrarily change that "scope of work". That doesn't pertain to upgrades or additional work above the original "scope of work". Those must be handled via the "Change Order" process but can be modifications or additions to the scope of work. We are happy to help you with our construction service and your remodeling contractor. 203k911 was the bran child of a real estate consultant, with experience as a HUD 203k consultant and an FHA appraiser and we help you resolve your construction issues. 

Q: Why didn't any of my contractors provide a bid on my project?

 A: No one wants to bid against the world on any project. Most contractors don't even want to bid against more than one other contractor. Keep your mouth closed, don't let anyone think you are getting more than two bids or you may find that you don't get anyone to bid on your project 

Q: what is the proper flow of my fha 203k project?

 A: This is actually a very good question. So many lenders and other instructors want you to go out and get a contractor's bid 1st. This isn't done for your benefit but may be to your detriment. The program was originally designed for the consultant to come out and work out the scope of work details with the client. The client is the borrower in this case. Once they get that determined the consultant should provide a bid for the client. This is very empowering for the client. Then the bid is sent out to a contracotr or up to three. When those bids come in the client and consultant are to review and the client should make a decision as to which contractor to award the bid. 

Caution: Each bid is as a whole. While you can negotiate a price you cannot take the lowest items from each contractor and have them both work on the project. That will not happen. They both may walk away from your project. 

Contact Us

203k911 - tell us about your construction issue(s)

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We love our customers, so feel free to visit call during normal business hours. 203k911. real estate consultant, we help you resolve your construction issues. 

FHA 203k Consultants, HomeStyle® Consultants, VA Renovation Consultants

877-207-6565

Hours

Mon

10:00 am – 03:00 am

Tue

10:00 am – 03:00 pm

Wed

10:00 am – 03:00 pm

Thu

10:00 am – 03:30 pm

Fri

10:00 am – 03:00 pm

Sat

Closed

Sun

Closed

Copyright © 1998-2023 203konline.com - All Rights Reserved.

Powered by 203kOnLine.com

  • Home
  • Become a 203k Consultant
  • 203k911
  • my203kteamsacramento
  • My203kTeamBaltimore
  • 203k Training & Software
  • 203k Consultant Florida
  • 203k Team McCallen TX

Cookie Policy

This website uses cookies. By continuing to use this site, you accept our use of cookies.

Accept & Close