This home is a foreclosure with Fannie Mae and has already been approved for HomePath financing and HomePath renovation financing. That basically means you can finance not only the purchase price but a specific amount for any rehab work. There are specific guidelines for this that are too length to discuss here, but I can put you in touch with a lender who has experience with these types of loans who can answer your questions.
As you know it is a buyers' market, but you have to be very careful with these types of homes. Foreclosures and/or homes sitting vacant for long periods of time have unique repair and maintenance issues that you will deal with long after you purchase home. The more info you up front, will reduce the number of surprises you may have later.
As you Realtor, I am your source for any information you may need as you go through the home buyer process. My job is to guide you through the process, give you the information you need so you can make the best decision for you and your family. I would be delighted to assist you any way I can. Call me or email me.
This property is Faniie Mae owned and qualifies for a Homepath Mortgage & Renovation loan with as littlle as 3% down. It is listed for $77,900 which brings it to $42.31 a square foot before negotiating
My reccommendation is, if you are interested, is to have a proper inspection and have your offer contingent upon the inspection. This will put YOU in the driver's seat!
If I can be of any further help or if you wish to see other properties within this price category, please do not hesitate to contact me.
Keller Williams; Peace River Partners
Please let me know if I can assist you further in your search.
Re/Max Anchor Realty