Found my first home to purchase, got approved yesterday for the FHA streamline 203k, and now here’s the rub: The home, built in 1920 - Atl. GA, is investor owned and half way renovated. The owner added 20ft onto the back, replaced the roof/doors/windows, gutted the interior, replaced old P & E, framed out the new rooms, and finished about 70% of the drywall. It’s sealed up and FSBO. I see the good in the property, but getting to close has (and is) not easy. I have done tons research on loans, grants, and first time HB programs. I need help finding an attorney for closing and contract drafting, and am trying to steer clear of an agent. I am also looking for a contractor(s) that have worked with 203k before. The streamline 203k guidelines are tight in some areas that I may need to work on (i.e. finish the drywall, relocate some plumbing lines, finish bathrooms, and add a doorway/seal up another). Really I just need your tips, tricks, and advice on how to get what I need. Thanks.
FHA 203k Streamline resources for Atlanta
I really have nothing against agents. I have done most of the leg work already, and it seemed silly to hire an agent at a percentage for the home stretch. I was hoping that for the sake of the market, and for anyone that may stumble on this post (agent, broker, or joe shmo), that agents would be willing to share some knowledge for the greater good, and not the almighty dollar. Times are tough; I tend bar and go to school full time to earn this reward. This whole process has been very interesting, and being a senior working toward a finance undergrad, it illustrates a whole different side of finance not really discussed much in school. So I'm sorry if I offended any agents out there, I was just trying to find some legitimate advice on things that can be a little complicated.
From the sound of the condition of the house you are describing, you may need the FHA 203K Consultant program rather than the Streamline. The Streamline K does not allow for Structural renovations like moving interior walls. I am a certified 203K specialist in the Atlanta area and would be glad to discuss your options on the project as well as refer some contractors.
Sam.E.Thompson@WellsFargo.com
770-301-0527
"trying to steer clear of an agent."
Why are you posting in a consumer - agent forum? On the one hand, you write as if you know about the process, but then you have all of these questions. Actually, you could have saved yourself an incredible amount of time and "research" by working with your own agent who has likely already taken the blows to understand the whole process so that we can provide value for our clients. Further, your agent would not have cost you a single dime because the seller pays their commission. Going it alone will cost more time, money and cause significant frustration.
Either hire an agent or don't, but please don't waste our time asking for free advice here. I've already spent too much time on this.
. But I can't imagine anyone here understanding what it is you need from us AGENTS.
First Time Streamline I do not work in Ga but when in your post you say you are trying to stear clear of an agent realize that agents are normally the people to respond to your questions.
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