7 Stages to a Real Estate Rehab: Step 4 – Organize the Documents

Once you’ve evaluated and picked the contractor that best suits your rehabbing project, you can move on to signing the contracts. Keep in mind, no project should start before all parties involved have agreed and signed the contracts. (This is a must.)

Be sure your paperwork has the following:

• Independent Contractor Agreement: Details everything about a project, including the price.
• Scope of Work: Details the extent and limitations of the project, including every single material to be used.
• Payment Details: When payment will be delivered.
• Insurance Indemnification Form: Insurance requirements of the contractor for their workers and any liability throughout the duration of the project.
• W-9 Tax Form: This is a form required by the IRS for independent contractors.
• Final Lien Waiver: This is for the end of the project, but it’s best you show the contractor the stipulations at the beginning.

Once forms are prepared, schedule a meeting and walk through with all parties involved (contractors, subcontractors). This will give you the peace of mind that everyone involved is on the same page, especially with project details, time frame, and the budget. Entertain suggestions and address disputes immediately.

Lava Integrity Group, LLC is a San Francisco East Bay Area residential redevelopment company.  We focus primarily in Oakland, CA and Concord, CA. Our team is highly motivated, knowledgeable, ethical, and resourceful. Qualified to handle any real estate transaction, our dedicated staff is committed to helping people with their real estate needs and making successful deals happen. Our team of professionals has the integrity to follow up on our promises, and the expertise to navigate any transaction to ensure you’re fully informed for making the best decision possible. 

When we work directly with a home seller, what we provide can not only make for a smooth transaction, but it can also add up to thousands upon thousands of dollars in savings as compared to selling a home through traditional means. With the ability to directly purchase homes and make cash offers, we can create extremely fast and hassle-free transactions.

There are many creative ways to help you out of any situation. We pride ourselves on our reputation for working one-on-one with each customer to handle each individual situation; and it’s our goal to make each client feel like we achieved a WIN-WIN scenario.

We’d love to learn about your situation and see how we can help.  Call (510) 900-4090 or email ([email protected]) us to get a no-obligation offer on your home! 

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— see article here: https://www.fortunebuilders.com/real-estate-rehab/