Contact Ed Naworol for PreQualification and counseling

1. Have a predetermined idea of work you feel will need to be done and “guestimated”  cost

2. Determine “After-Improved” value

3. If a purchase transaction, write contract with 203(k) contingency

4. Obtain Termite, well and septic certifications

5. Schedule feasibility visit with HUD consultant

6. Consultant performs full work write-up or contractor completes work write-up   form for plan review

7. “Order Permits ensuring there will be no problems with county zoning/ordinance requirements”

8.  Appraiser inspects property and determines  “After-Completed” value based on work write-up

9. Loan is approved and closed

10. Renovation begins

11.  Draws are made from escrow account as work  progresses

12. Work is completed. Final inspection is made, title is cleared, and remaining draw less any holdbacks are released to homeowner.