Mtkandel, Home Buyer in

Can I buy a home that has had fire damage?

Asked by Mtkandel, Thu Sep 6, 2012

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Answers

7
You bet,,,,but the damage may become an issue for a lender and your insurance company, Paying cash makes this pretty much a non-issue.

Good luck,

Bill
0 votes Thank Flag Link Mon Sep 17, 2012
Can you? Absolutely, just be prepared to deal with the added expenses of repairs. Depending on the extent of the damage you may wish to consider having an engineer take a look to make sure it's structurally sound.
0 votes Thank Flag Link Mon Sep 17, 2012
Yes, no problem with that type of property but you will have to just consider the expenses to repair fire damaged home during buying home.
0 votes Thank Flag Link Sun Sep 16, 2012
Yes you can buy any property in any condition- for as long as you buying it with your own money - paying cash.

If you planning financing your real estate purchase - it is best to check with the lender and find out available programs as there could be some restriction in regards to financing.

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0 votes Thank Flag Link Thu Sep 6, 2012
Yes, with an FHA 203k loan you can if you need financing.

http://tiny.cc/203k


Best of luck
0 votes Thank Flag Link Thu Sep 6, 2012
Yes.. there are all kinds of programs for financing it... you may also be able negotiate to get the insurance proceeds (if any) and the claim rights assigned to you...

Contact me individually if you have further questions, I have worked deals like this before as a contractor and as a broker.

Ron

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0 votes Thank Flag Link Thu Sep 6, 2012
Yes, however, you may have a hard time getting financing and getting insurance until all repairs have been completed by a qualified professional. Obviously, you can buy all cash and insure and mortgage after repairs are done.
0 votes Thank Flag Link Thu Sep 6, 2012
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