Foreclosure in 33415>Question Details

Bob Brubaker, Real Estate Pro in Lake Worth, FL

Which Banks consider NSP funded offers?

Asked by Bob Brubaker, Lake Worth, FL Tue Nov 1, 2011

What Banks will give serious consideration to NSP funded offers and allow for the time-frames

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Alma Kee’s answer
Probably difficult if you cannot close within 45 days. On REOs you're usually competing with mutliple offers and they'll select the highest and best. A closing date beyond 45 days is tough. The ones that don't sell quickly are in ugly or functionally bad condition so probably not eligible for NSP money anyway.

Of course Short Sales are out... a buyer must be able to close within 45 days... and the NSP money usually requires a property to be in good condition and depending on the county may even require a full size refrigerator. Many short sale owners strip the house of appliances of light fixtures.

It will make your search fairly easy... only regular sales.

All the best,
0 votes Thank Flag Link Wed Nov 2, 2011
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