What is BIMQuote and how do I place material orders?BIMQuote is a Building Information Model (BIM) tech-enabled company that allows for the creation of 3D models from 2-dimensional building plans. The 3D model allows for precise quantity takeoffs to be created that can be handed off to material providers to create takeoffs and purchase orders. To place a material order, all you need to do is sign into the portal, upload plans, and wait for quotes to be returned from the generated takeoffs. If you are ready to accept and move forward with a quote, you can select to create and sign a Purchase Order.
When will the material orders credits be applied to my loan amount? Credits will be paid against the origination fee portion of your loan as eligible material orders are placed and paid for.
I have an exclusive contract arrangement with an existing supplier for certain materials. Can I still order other material categories through BIMQuoteto earn credits to offset or eliminate the origination fee? Absolutely! You can order all of your materials through BIMQuote, or only select specific categories if you have an existing contract or relationship. Credits will be earned on all eligible orders fulfilled through BIMQuote.
What if the material quotes from BIMQuote are higher than other quotes I have received?Quotes from BIMQuote generally include significant savings due to national relationships. In the rare occurrence our national pricing is not competitive with regional quotes, we will work with our material providers to try to match or beat an “apples-to-apples” quote from another supplier. Keep in mind that beyond competitive pricing and the opportunity to earn credits to offset your origination fee, BIMQuote also streamlines reimbursements for materials ordered with a simplified draw process, and project coordinators also assist to ensure timely deliveries of goods.
Do I need to have build plans already? Plans are necessary in order to create a 3D model and related quantity takeoffs within BIMQuote. If you do not have detailed build plans yet, plans can be purchased at customhome.ai and may be eligible for reimbursement when materials are ordered through BIMQuote. Note that plans purchased through Customhome.ai may also be eligible for credit toward your origination fee.
How is the rebate calculated? The amount of the rebate is determined based on items ordered and delivered, and is confirmed at the time a purchase order is submitted through the platform. Estimated rebates are not binding and may vary from the actual rebate earned at the time of order.
What happens if I change my mind and choose not to order through BIMQuote? No problem. You are not obligated to purchase items included in your initial rebate estimate. The rebate you receive will be based on items actually ordered and delivered, and is confirmed at the time a purchase order is submitted through the platform. Your rebate may vary from the estimate originally provided based on a number of factors, including whether you actually order items.
How are you able to discount materials this much? Our national relationships provide bulk purchasing power. Also, we can streamline the materials orders intake process, adding value for our suppliers, manufacturers, and borrowers. Larger purchase volumes and improved processes result in preferred pricing options.
If I’m building more than one house, do I have to order for all houses in the project or can I pick and choose to try this out?It's up to you. You can choose the materials you would like to purchase through our program--there's no obligation. The rebate you receive will be based on items actually ordered and delivered, and is confirmed at the time a purchase order is submitted through the platform. Your rebate may vary from the estimate originally provided based on a number of factors, including whether you actually order items.
Is this only for single-family homes or is the origination fee rebate available for condos and multifamily as well? The origination fee rebate is available for all sorts of projects, based on the materials you choose to order.
What’s the timeline on receiving actual material bids? Material bids will be collected shortly after your loan has closed. Some material categories take longer than others, but generally all bids can be received within 5 business days. There is also an option to review bids and develop a 3D model before your loan closes for a nominal fee. Note that pricing reflected in bids obtained may be subject to change, based on our suppliers pricing programs.