NACA Repair List and Cost Estimates Sample Clauses

NACA Repair List and Cost Estimates. If the Member decides to purchase a property that requires repairs that the seller does not agree to perform, NACA requires that the Member address all repair issues determined by the HAND department necessary for repair and/or replacement. The HAND department will identify the scope and projected cost of work necessary to make the property meet NACA guidelines and submit this as the Repair List to the Member. The Member may include additional upgrade renovations if the funds are within their approved loan amount and meet appraised value. The Member understands that the cost estimate are not exact, and that the process of construction often involves uncertainty, unexpected costs and problems. HAND does not promise or guarantee that the Repair List includes all the work that may be required or that the cost of the work will not exceed the estimate. The Member is responsible for and accepts all the risk if the Repair List is incomplete or inaccurate, or if the ultimate cost exceeds the estimate. NACA and its HAND department make no representations, promises or warranties to the Member of any kind concerning the property, the repair/rehabilitation, or the scope, timing, completeness, quality or cost of work to be performed. If the Member wants such promises or warranties, HAND encourages them to retain a construction manager or insist upon such promises or warranties from the Contractor who the Member has retained to perform such work. Although NACA will provide the Member with assistance, the Member is not entitled to rely upon such assistance or any documentation produced by HAND, or to substitute this work for their obligation to be solely responsible for the rehabilitation and to ensure its quality and completeness. It is the Member’s choice to purchase a property through the NACA program, and as they have chosen to purchase a property that requires rehabilitation, the Member may not sue or file any claim against NACA if something goes wrong before, during or after construction.
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Related to NACA Repair List and Cost Estimates

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