In our MLS active means the listing is still active. If it's listed as CCS or CTS it means there is an offer but they are continuing to show or contingent continue to show and will accept back up offers in case something happens with the current accepted offer.
Karen Paytas, GRI, CMS
Real Living Kee Realty
I was unable to locate any homes currently for sale in the Saline area, offering Land Contract terms. Most mortgages have a due on sale clause in the event there is a transfer of ownership. There are few homes that are owned free and clear which would be necessary to offer land contract terms. Depending on your circumstances you may want to consider rent with an option to buy if you are unable to qualify for conventional financing at this time.... more
No, Rural Development loans cannot be used for improvement. The home needs to be inhabitable and free of health and safety hazards prior to moving in.
203k is really all there is out there for a low down payment on a home needing repairs.
If you are concerned about down payment and you are using FHA 203k then you should be aware that after Jan 1st the required down payment is getting bumped up to 3.5%. This means you would need to have an offer accepted, a loan locked in, and an FHA case number assigned prior to Jan 1.
If you're doing 203k then you dont have a lot of time left since you'll probably need to get all your builder estimates and everything early in the process