Homebuyers who buy an older home or Foreclosure often are frustrated by the difficulty of financing needed repairs and renovations. But a Federal Housing Administration home loan program offers some help. A FHA 203(k) loan allows borrowers to wrap the cost of repairs and improvements into their home financing.
With eight of experience in selling homes in Central Florida working for Luxury Realty, Bernardo’s knowledge and dedication has made him a leader in the local real estate market. He has developed a strong reputation of character, integrity, honesty and reliability. Using his focus and unique ability to set aside personal agenda, he is thought of as a trusted adviser to his clients and friends.
Thursday, October 24, 2013
How to Buy a house that includes home repairs?
Buying a new home can be exciting but even the most wonderful new homes come with issues that need to be fixed. What can you as the buyer reasonably ask or demand from the seller? When is the best time to discuss these issues? What is the proper etiquette when buying a house that needs work done to it? It is common for the buyers and sellers to delay getting work done? If you need to delay a repair until after closing, how can you make sure that the work gets done?
Subscribe to:
Post Comments (Atom)
If you have any other questions regarding FHA 203(K) Loan, give me a call today (407 920-4973
ReplyDeleteI am actually working on a deal now with my buyers in the Apopka area where the house that my buyers are trying to purchase, needs some repairs inside the house and need a new roof. I was able to get the bank to pay for half of the roof cost and the other half been added to my buyer's loan amount. Also, I was able to get a price reduction for my buyer because everything is negotiable in Real Estate.
ReplyDelete