Orlando Real Estate

12 Common Renovation Financing Mistakes

July 11th, 2014 2:19 PM by David W. Welch

These loans take time. 
 1-Contract closing date less than 60 days.
 2-Appraisal due in less than 40 days.
 3-Loan commitment in 30 days.
 4-Appraisal before repair bids are complete.

Timing is everything.
 5-Utilities not on before inspections.
 6-WDO scheduled after cost consultant inspection.
 7-Not setting up inspections in a timely manner.
 8-Not setting up contractors in a timely manner.
 9-Not accepting bids in a timely manner.
10-Not getting your paperwork completed in a timely manner.

Work with the right team.
11-Not hiring an inspector that is a certified renovation cost consultant.
12-Not choosing a contractor who is already certified to work on renovation loan projects.

If you are considering purchasing a fixer upper, start with the right team. Contact me, and let me get you in touch with the right lender to guide you through this process. These common mistakes were provided by Kelly Taylor with FBC Mortgage, LLC.
Posted in:General
Posted by David W. Welch on July 11th, 2014 2:19 PM


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