Clients need to engage a Contractor upfront. As soon as possible the client needs to start shopping for a contractor.
Having a detailed contractor bid is important. We have provided two different samples of contractor bids. We do not require a specific format but we do require specific information and that the bid be detailed. All permits, taxes, and inspections should be included in the total price of each line item and Labor and Materials should be broken out per line item.
Brokers and Loan Officers - Fill out and turn in the Early Submission Sheet to your Renovation Specialist before you send initial disclosures. With all of the new rules for disclosing we strongly recommend having Universal Lending disclose renovation loans.