What are the biggest 203k mistakes a buyer can make?
By Mike Young, FHA 203k Consultant 916-758-1809 cell direct
(203kOnLine.com, covering the USA)
What are the biggest 203k mistakes a buyer can make?Lets start with the biggest mistake. Trying to get into the project on a shoestring... keep pushing to get the renovation costs down... 1) I'll do the painting and you can therefore take it off the scope of work.The appraiser can't see anything as completed that isn't in our scope of work. YOU are not a painter. Not even close.2) My step father is going to help me, he lives two doors from my new house, he works for a contractor and knows how to build a house.You forgot to count on your mother divorcing him and kicking him out of her house... never to be heard from again.3) I'm an electrician but the contractor is in charge. I'll work for him.Interesting but... why is the electrical section $28,000.00, I can't see more than $12,000 base...
Comments
0