The process begins with ordering a Preliminary Work Write Up (Feasibility Study). A Preliminary Work Write Up begins with an inspection of the property, with a "rough estimate" of work that will be necessary to comply with HUD's minimum property standards (MPS), in addition to the borrower's desired improvements. A scope of work document is created by the Consultant for contractor's bid specifications. This document describes the entire project in a clear and unambiguous detail so all contractor's bids the same list of required repair and remodel items. The Contractor will use the Scope of Work Contractor Bid Package to provide the homebuyer with a detailed bid that reflects the total cost of improvements, including labor and materials. If needed, PPT Inspections will negotiate with contractors, thereby helping the borrower get the most out of the repair budget. Once the bid specs are complete and a cost projection is calculated by the Consultant, the specs are reviewed by the borrower for corrections, deletions, or additions.
The Preliminary Work Write Up fee is due and payable at the time of the inspection. If after reviewing the Preliminary Work Write Up, and if the project is deemed to be Non-Feasible, then no additional fees are due. If it is deemed to be feasible and you want to move forward, then the "Work Write Up fee" of your project will follow and payment will be due upon delivery of that report once contractor bid is received and agreed upon and the Final Workup is completed.
Preliminary Work Write Up includes...
-Initial contact with your lender, to get their lending requirements
-Contact with the City’s Building office to get their permitting, plans and specification requirements
-35-point property "Check List" approved by HUD
- Borrower’s wish list items and review
-Cost estimate for the construction project.
All Fees are "allowable closing costs" and are factored into your HUD minimum out of pocket expenses toward buying a home and may be credited back to you at time of closing if you choose to add these fees to your loan amount.
Preliminary Work Write Up Fees are non-refundable.