Turnaround time is usually 5 business days unless it’s over the weekend which could take up to 7 days.
Inspector will call you and set up a time to come out to the rehab. Make sure that someone is there or that the inspector can get into the home. I highly recommend that you have a piece of paper with your name, the rehab address and all the work that you feel is completed and hand that paper to the inspector so they know what they should be looking for. Point out things that are completed and make sure they are taking photos of those items.
First question that you should ask yourself is….. did I receive a confirmation email? If you did not, the email might not have been seen. Resend the email and call the draw department. (800) 202-4211
If you did, call the draw department, and ask if they can request the inspector’s information from NVMS. The draw dept. will get the inspectors information and send you an email with the inspector’s information so that you can contact the inspector.
Upon the Borrower’s request for an inspection, the Inspector will contact the Borrower and/or their designee to set an appointment for a site visit. Failure to meet the Inspector at the set time will result in a $55 – $105 travel fee charged to the Borrower. No excuses.
Once the inspector sends the report to the draw department with the evaluation the draw department will determine if they agree with the inspector’s evaluation or not. They will put together an excel spreadsheet which is called a draw and the draw department will send that along with the inspection report to you of how much they are able to release at that time
You must have an inspection within the first 90 days after closing then one within every 90 days thereafter. If it goes to day 91 you will be charged a force place inspection of $100.00 and you are now in default of your loan.
You must have an inspection within the first 90 days after closing then one within every 90 days thereafter. If it goes to day 91 you will be charged a force place inspection of $100.00 and you are now in default of your loan.
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