Why bother?
A consultant is trained to help with the 203k loan process. And yes you must pay for this service, but…………………………………………………………., the consultant can help you determine construction costs most likely to be incurred when you decide to buy a home that needs work, a home you will finance with a 203k loan.
Feasibility Study
For $200 you can get accurate costs from a 203k consultant, that’s half the cost of a home inspection and covers much of the same things. Its not as detailed but a feasibility study is fast because you get the construction cost numbers when you meet at the property.
This means that right now you canĀ decide whether to move forward or not, you can decide if this property is worth buying.
Experience has shown that an FHA 203k consultant will save you time and money.
If looking at REO proerties or any property that will need work call a 203k consultant and ask about the quick and accurate feasibility study.