I am writing an offer on a foreclosed home this weekend. It is bank owned and there are obvious repairs needed. We are planning to go FHA 203 K and the loan originator is aware. My question when making our initial offer do we make it on the base price, then get our estimates or do we need to factor in the repairs to cover in the nut. I’ve not written a 203 k usually have buyer’s who could qualify for a construction loan to make necessary repairs but I am not aware of any lenders in our area that are doing that right now. - Fri Feb 20 2009, 17:40