Asked by B Smith, Michigan • Fri Feb 13, 2009
We are looking to buy a foreclosed home. It will be an FHA loan but the home we are interested in needs carpet, dead tree removal, water damage repairs and the cabinets have been torn out of the kitchen. While we are interested in making an offer we are not sure if we can afford to giving all of the closing costs along with the addional repairs. Is it likely that the bank would do any repairs prior to close? Also wondering whether or not they may make additional concessions on closing costs.
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