About 203K Consulting Experts

Houses

203K Consultant Fee Schedule

(As Established By HUD)

The 203(k) Consultant insures all HUD minimum standards are met. The Consultant will walk-thru the property, with the Buyer, to incorporate any client desired improvements, make suggestions which the Consultant believes will enhance the home, as well as the HUD required improvements.

The Draw Request Inspections, a maximum of five are allowed, insure all repairs are made, pursuant to current building codes and that the finished structure is substantially the same as that upon which the loan commitment is based.

There will also be additional inspection fees, for each Draw Request Inspection, which will be included in the rehab cost and will be billed to and paid by the lender’s Draw Request Funder.

Currently, I’ve noticed, the average fee, for REOs, has been $600 to $700.

The below fees are paid COD, by the buyer at the time of the initial inspection.

Consulting Fee	Repair Cost

$200.00	Feasibility Study*
$400.00	$5,000 to $7,500
$500.00	$7,501 to $15,000
$600.00	$15,001 to $30,000
$700.00	$30,001 to $50,000
$800.00	$50,001 to $75,000
$900.00	$75,001 to $100,000
$1000.000 .	Over $100,000
48.5 cents per mile	Over 30 miles roundtrip
$25.00	Each Additional Unit

* A feasibility study is a quick inspection of the property, with a rough estimate of work that will be necessary to comply with HUD's Requirements. The cost of the feasibility study is $200.00.

For more information on the 203k Rehab Program please