A new roof may not be a glamorous home renovation but it can really pay off and save a homeowner cash when it comes to homeowners insurance. The majority of home insurance losses happen to the roof due to snow, wind, hail and rain damage.
It’s important to get documentation from the contractor to show that the work was done to code. Waterproofing and higher quality roofing materials can also make a difference in the amount of discount available. Discounts will vary from company to company and state to state so it's important to check for available discounts prior to engaging the contractor.
A new roof is on our list of top renovations that pay off and add value to a home. ick here to edit.
Contractor Approval is one of the key components to closing a renovation loan quickly. A contractor who can get a clear initial bid and is willing to quickly provide updates needed for the loan is essential. The contractor is also required to have licensing, insurance and certifications required by local laws for loan approval. If the contractor doesn't carry insurance or is not licensed in the jurisdiction where the work is to be done then they are not qualified to work on the project ...and the borrower will be scrambling to find another contractor.
What can you do to make sure your client's contractor is acceptable and qualified to do the work?.... Get the contractor approved as soon as possible. Below are the four items that must be provided to your Renovation Specialist as soon as possible for contractor approval.