Your Southern Maine
When getting a 203K loan, you will need
the assistance of a 203K consultant.
We are your Southern Maine 203K specialists.
Your Southern Maine
When getting a 203K loan, you will need the assistance
of a 203K consultant. We are your Southern Maine
For all of Your 203k Loan Needs
203k LOAN CONSULTANTS
If you are buying a home with a 203K Loan, then you will need the assistance of a qualified 203K loan consultant, such as us.
203K loans are a great way to get into a home, and to make it the home of your dreams. But navigating all of the steps and getting the proper inspections requires the assistance of qualified 203K consultants.
We here at Blue Lobster Home Inspection are here to provide you with the guidance you need, the inspections you require, and the help that gets you into the home you have always dreamed of.
When it comes to 203K loans, we are your best choice in 203K specialists.
About your 203k Inspection/Consultation
Initial Site Visit
Upon visiting the site, the consultant will perform a thorough examination of the property and provide an assessment about the project’s feasibility under the 203k loan requirements. If the consultant determines that the project is indeed feasible, a formal agreement is signed and the buyer pays a retainer fee. The exact fee to be paid depends on the cost of the proposed repair work.
Architectural Exhibits, Detailed Work Write-up and Cost Estimates
Based on the initial site visit and inputs from buyer regarding their renovation plans, the 203k consultant will prepare a concise document regarding the project’s scope and specifications. Architectural exhibits along with a detailed cost breakdown for each of the repair tasks will also be included. Additionally, the 203k consultant will also prepare lender packages and contractor bid packages that contain everything mentioned above. Finally, draw request forms based on the work plan to be followed will be prepared. Once the detailed work write-up is completed, a copy of the complete package with all the required documents is submitted to the lender, contractor and the borrower.
Draw Request Inspections
The 1st draw will processed once the consultant determines that all the necessary permits have been issued from the local authorities. Depending on the completion of the work identified in write-up as per determined schedule, the consultant will make subsequent inspection visits and issues the 2nd and 3rd draw amounts.
After the 4th draw request, a punch list containing any unfinished, outstanding tasks is handed down by the 203k consultant to the contractor. The 5th draw, held as a retainage is issued after the final inspection. At this point, the project will be successfully completed with no unfinished tasks.
Your Premier Southern Maine 203K Specialists
With over 16 years of construction and inspection experience, a deep knowledge of the homes in Maine, and the best training in the industry, why choose anyone else? Contact us and see why so many continue to choose us as THEIR 203K Consultants!