What happens if we can't get our renovation project finished on time?
By Mike Young, FHA 203k Consultant 916-758-1809
(203kOnLine.com, covering the USA)
What happens if we can't get our project completed within the time frame set by the consultant?You may need an extension of time to complete the project.Each construction project has an estimated date of completion set by the consultant or the lender and based on the amount of construction. Variables exist that include the current schedule of the contractor at the time of the closing. If the contractor is notified the loan closed and they can start working asap, does't mean they have to drop everything and begin your project.1) What really happens is that the contractor is notified of the closing,2) The contractor checks their schedule and decides that they have a project completing in a week or two and that crew will be sent to the new project at that time.3) Materials procurement then...
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