203k Streamline Process

The 203k Process is approached from the FULL PROCESS or STREAMLINE PROCESS perspective.

Streamline Process

1. Feasibility Study is an overview of repairs as it relates to FHA/local building department/homeowner requests.
   1. Ensure project falls within budget
   2. Study provided by a 203k consultant
2. Prior to Close
   1. Contractor to provide detailed bid
   2. Approve and sign all documents
3. Property Close
   1. Contact contractor 1-2 weeks prior to close
   2. Establish construction schedule
   3. 50% draw from bank (No consultant)
4. Construction Process
   1. Finalize finishes/product selection.
   2. Permitting.
   3. Renovation/non-structural.
5. Completion/Closeout
   1. Provide all warranties.
   2. Final draw from bank (No consultant).
   3. Retention payment 4-6 weeks after close.