u/Backwhenwe

Looking to purchase a property for $1.1M and make about $100k in improvements. Banks and brokers are recommending purchase plus improvements which will likely cover up to 100k but will need to submit quote with mortgage approval.

Any best practices anyone can share on ensuring the quote is as accurate as possible but also not going to hurt me down the line if it’s too specific or not specific enough? My contractor can happily generate a detailed quote. But, for example, I may purchase some items from that quote directly to save on costs - could I think still get reimbursed as long as it’s tied to a line item on the quote?

Any insights and experiences greatly appreciated.