Have a hard time finding 203K approved contractors for a home remodel. I’ve reached out to a few 2 contractors said they do them but immediately heard the complaints of all the paper work and inspections that go into it. (I knew this from my research that there’s a lot of paper work). I got a list from my loan officer, I’ve must of called 7–10 contractors only 2 picked up and one called back. But the list is long for my area that I know of.
I found a local meet up for real estate via meetup.com coming next Wednesday so I’m hoping to find some contractors or network with enough people to find qualified, professional contractors.
Anyone in the area with some tools for finding one or know of any please message me or let me know.
Don’t ask them if they do 203k loans, you’re going to confuse them.
Did you create your scope of work yet with your 203k consultant?
Once you do that, call a bunch of contractors to come in and do the estimate. Use Angie’s list/home advisor , and only look for qualified and professional contractors.
Give them the scope of work and tell them to estimate what it will cost to do each line item. Compare it to what the 203k consultant says it’ll cost and go from there
You may have to do the contractors paperwork for them. Take the guesswork out of it for them. Fill out the forms just make them sign and send you the important stuff (insurance, license, etc)
There are currently no contractors who have earned the accreditation as a Certified 203k Contractor in the MIddletown, NY area. This accreditation is not required by FHA but it helps contractors to become familiar with the 203k.
So, it will be very, very difficult to find contractors who competently understand the 203k. Even if you do find a contractor willing to do a 203k, they won't know the federal government guidelines, timelines, paperwork, and processes for the 203k and will be 'winging it.'
You are going to confuse any contractor who doesn't competently know the 203k by asking them if they do 203k's. The reason is because they don't know the 203k and the last thing you want is to work with a contractor who doesn't know the federal government guidelines on the 203k or one who will wing it or use your 203k as their learning experience.
But if this is your only option, good luck.