10 Questions You Need to Ask Your Contractor Before You Hire Them

Hiring the right contractor can mean the difference between a successful remodeling project and a nightmare. The contractor is responsible for hiring the best tradesmen, budgeting, ordering raw materials, timing, and much more.

Before you meet with a contractor, it’s important to prepare. Not only should you be clear about the scope and goals for the project, but you also need to have questions about their business and these 10 questions can help you ensure you are hiring the best person for your needs.

1. Are you licensed and bonded? Can you provide information about your insurance coverages and exclusions?

2. What kind of project management system do you use? What is your communication cadence with your team and with me?

3. What is your policy regarding the cleanliness of the job site? How do you ensure employee safety on the job site?

4. Do you have a portfolio of similar projects and recent work with photos and/or videos?

5. Will you give me some references of recent past clients?

6. Can you provide me with a sample contract in advance for review?

7. How are selections and allowances handled?

8. How are payments handled? Will you provide a payment schedule?

9. What is the estimated time frame for planning, start date, and completion?

10.What penalties will you pay for delays caused by your team? How is fault defined for delays? Is this in the contract?

Remember, a home remodel can cause a great deal of upheaval, weeks or months of workers, delays, and adjustments. While you can’t plan for all contingencies, you can hire the best possible contractor. This puts you in the best position for a successful project.

FICO Shock? Your Lender Can Help with a Rapid Rescore

If you’re ready to buy a new home, you know that a good FICO score is critical to the process. Your FICO affects not just your ability to buy a new home, but the interest rate and fees you’ll pay for the new loan. Often, buyers are shocked to realize their credit score is not as high as they thought. Even borrowers who always pay their bills on time can be surprised by a lower FICO score when they apply for a loan. Fortunately, your lender can help with a rapid rescore process.

A rapid rescore is initiated by your lender to boost your FICO in days. Most lenders offer this service and will start by reviewing your credit report with you. Lenders use what’s known as the “middle score,” in determining risk. There are three credit bureaus – Transunion, Equifax, and Experian – and they each calculate your score a little differently. The middle score is used for most home loans as your FICO.

Your lender has a program which can estimate your rescore based on removing false reporting or lowering the balance on a credit card. Even paying off one card can raise your score by 20+ points, enough to make a huge difference in your mortgage interest rate. Once the steps are determined and taken, they then request the credit bureaus to verify the report. This takes a few days. Then the new score will be available to the lender to use for your loan.

If you are considering a new home loan, it’s important to know your credit score ahead of time, when you can still correct mistakes. But, if you are already in the process, your lender may be able to use the rapid rescore process to quickly increase your score and offer you a better loan.

New Home. New Adventures. New Memories.

I love this family! And I love that my jobs allows me to be a small part of something so big and special as helping friends find a home where memories will be made for years to come. Congratulations to the Parker family!

To hear the Parkers experience working with The OC Nest please visit: http://www.theocnest.com/testimonials/