203K HUD consulting & paperwork write-ups
If you decide to buy a home and it needs some updates, repairs or renovations, hire TG Project Management, certified 203(k) consultant
If you decide to buy a home and it needs some updates, repairs or renovations, TG Project Management, a 203(k) consultant, inspect the property and talk with you about both the repairs that will be required to meet HUD’s Minimum Property Standards and the optional renovations you would like to make beyond the required items.
As a 203K consultant, our service is also valuable after the loan closes and repairs begin. When your 203(k) loan closes, a Repair Escrow Account is set up. TG Project Management inspects repairs as they are completed and, provided the work is satisfactory, tells the lender that funds can be released from the Escrow Account to pay the contractor.
TG Project Management prepares the paperwork that the lender uses to determine the loan amount and underwrite the loan. This paperwork typically includes the feasibility report, architectural plans, and a work write-up that reflects specifications on all of the repairs that will be done, including:
- Cost of materials and cost of labor for each repair,
- A recommended “contingency funds” amount to be set aside in case there are cost overruns,
- A recommended inspection schedule, showing the times during construction when the Consultant will inspect the work performed and completed
If the lender needs additional paperwork – for example, a termite inspection report or certification that a roof is structurally sound – TG Project Management and the lender work together to coordinate ordering these reports and making any needed changes or adjustments to various documents, if additional repairs are needed.
As a 203K consultant, our service is also valuable after the loan closes and repairs begin. When your 203(k) loan closes, a Repair Escrow Account is set up. TG Project Management inspects repairs as they are completed and, provided the work is satisfactory, tells the lender that funds can be released from the Escrow Account to pay the contractor.
As a 203K consultant, our service is also valuable after the loan closes and repairs begin. When your 203(k) loan closes, a Repair Escrow Account is set up. TG Project Management inspects repairs as they are completed and, provided the work is satisfactory, tells the lender that funds can be released from the Escrow Account to pay the contractor.
TG Project Management, 203K consultant, can help you throughout your home renovation project, providing valuable insight and support when you are working with a general contractor.
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