Scope of Work (SOW) is the line-item rehab budget submitted with a fix-and-flip or ground-up application: contractor name, line categories (kitchen, bath, flooring, paint, mechanicals), dollar amount per category, contingency line. The lender''s appraiser values the property at After Repair Value (ARV) assuming the SOW executes. Median SOW per square foot ranges from $36 (SC) to $75 (PA) across the network; significant deviation flags either an aggressive ARV or a misclassified rehab tier.
Construction & Rehab