The big three on the hot sheet for a home are location, condition and price...we all know or have heard that.
A) Price is dictated by Location and Condition.
B) Location - Where one wants to live or needs to live is a major part of the decision that must be made by you and your family and is important to everyone for different reasons ..... school districts for the kids, parish or designated area for your preferred house of worship, commute, shopping, recreational activities.... and so on.
C) If the house your looking at has good bones but it is aesthetically challenged or just doesn't quite meet your minimum standard of acceptability....have no fear...the 203K is here. Sure you can keep looking for that perfect home but in the long run you might just be paying someone else for work you can be in somewhat control of and end up with a product that suits your needs perfectly.
I have just assisted clients in contracting for a home that hit every item on their wish list but was a little lacking in eye appeal, didn't have any of the energy efficient appliances they wanted and had a number of issues that had to be repaired under FHA guidelines before the loan could fund to complete the contract. Considering they made a great offer and it was accepted, money spent fixing these things would not be excessive. Money could heal everything but ..... they didn't have it. Enter the experienced agent, I have a referral tree that allowed the clients to select a lender to assist in an FHA application for a special loan program wherein they could borrow the additional money needed to perform the work and then select trade professionals to provide estimates and perform the work under FHA guidelines. Batter up - Home Run!
This is possible under the FHA 203K Streamline loan program. For more information on the program, visit www.hud.gov or contact me roger@rogerasullivan.com
If you'd like to hit the same home run but with my referral teams players on base, let me assist you in making it a grand slam.
No comments:
Post a Comment