For Homebuyers and Realtors

• Find a property that needs renovations, or, repairs
• Have a contractor draw up a cost estimate for the renovations, or, repairs that are needed
• Make an offer on the property based on what you feel the home is worth in it's current condition
• Once the offer is accepted an appraisal will be done to give an estimate of the value of the home.  The appraisal will be based on the assumption that all the repairs to be made on the property are complete.  This will give the client and the lender the "after improved estimate of value"
• The loan is funded, the purchase is completed and the funds for the repairs, or, renovations are put into an escrow account to be dispersed in accordance with the completed work on the home