Bill Medlin

Yes this is a repo, which may create some hurdles in financing. If you have to get a mortgage to purchase this home, you will probably have to get a rehab loan. Being a repo, the bank is selling the property, "as is". They are not usually willing to fix anything. The tax value of the property is $97,740, and by tax records it previously sold for approx. $115,000. So the asking price is good, meaning you will have equity available for the rehab. If you can do a cash purchase or are strong enough to do a rehab mortgage this home could work for you. There are several incentives out there for first time home buyers buying repos, tax incentives for first time home buyers, buyers that have not owned a home for at least 3 years and for buyers that have owned there present home for at least 5 years. Give me a call and we'll can go over the possibilities. I know we can find the perfect home for you, and I can also help you get prequalified and that will make you a much stronger buyer when we make an offer on a home. (704) 562-7375
, - Thu Nov 19 2009, 05:56