found 5.62 A in CA w/ 3 2 1600SF home. $399K. Agent says qual.for HUD203K program. He won't get us title report. Own research =over $350 debt

Asked by Katie, Ventura, CA Wed Jan 11, 2012

. Help the 3 2 home is not 1600SF. It's unpermitted, no foundation, aprox 750SF. Probate agent involved but unwilling to help. on mkt for 2 years. W/ over $350K debt, w/whom can we deal as agents are unwilling to help.

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Thu Aug 22, 2013
I do not do 203K loans I would check with a lender that does them. From what I know it may be a problem. The end result most likely will be to tear down all the non permitted parts of the structure. On probate deals, the court makes an appeal for additional offers.
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Barry Shapiro, Agent, Camarillo, CA
Wed Jan 11, 2012
Hi Katie,
I have visited this parcel on several occasions over the years, showing it to prospective Buyers. At one point there was a plethora of trailers on the property on your right as you entered, which were rented out by maybe nearby farm workers. The property borders the Sespe Creek, and it's in an extreme flood plain (do your due-diligence to confirm). The property is not hooked up to the local sewer, as it's still on septic. The property line is just shy of 1550 feet long, and follows the outline of the main adjacent street. I had a listing nearby at 1936 Goodenough Rd. The property has been listed and expired over many many years. The mortgages apparently are much lower than what your research has determined. I can verify a lot of this information for you and even order a title report from my local representative. I hope this helps.
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Ted Mackel, Agent, Simi Valley, CA
Wed Jan 11, 2012

You need representation in several ways.

First a buyer's agent. If the property is listed in the MLS then the buyer's agent can be paid according to what the Listing broker has agree to split with the Buyer's agent as per the MLS. Your interest will be represented and you do not have to agree to the pay the Buyer's agent any additional commissions for their work.

Second, If you can find a buyer's agent who has construction, rehab, remodel experience, that is even better.

Third, If you can find buyer's agent who has investment property experience, that is even better.

Fourth, be prepared to pay for additional qualified inspectors/contractors to evaluate the property. A typical Home inspection company for a property as you describe is only a start, but should probably not be your only opinion as to the condition of the property.

Last, if you are able to use 203K financing, it would be helpful to have people who know how to review contractor bids and make sure you are paying a fair price for the work and that all the work necessary is covered.

On another note, the listing agent and the Seller are under no obligation to give title reports or any due diligence information prior to you showing your willingness to buy the property. i.e. make a written offer with some earnest money. If you make a written offer, there will be a contingency period for you to do your due diligence and you will have the opportunity to back out if you need to and not loose your deposit.

What most buyers are never coached on is that, if you are serious about buying a property, plan on having up to $1200 of non-refundable risk money. A typical home inspection runs $350 to $450. An appraisal runs approximately $400-$500. If you need to bring other contractors out, there can be a service call with HVAC, Plumbing/sewer inspection or an inspection fee from a foundation contractor for example. You might pay for termite or mold inspections. The point of the non refundable risk money is so you can assure yourself that you are comfortable buying the property in it's present condition and any foreseeable conditions that may come up as a result of your due diligence.

I have references for foundation specialists, Licensed contractors. I have construction experience both in residential and commercial - if you have any questions please call (805) 432-7705

Ted Mackel
CA DRE #01228452

P.S. I have done pretty extensive remodels on a few homes I have owned and I am pretty tight with the money and know where to pick up the savings on these projects.
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Michelle Car…, Agent, Coppertino, AL
Wed Jan 11, 2012
Sounds like you should carefully review this with a buyer agent. Are you working with only listing agent now? If so ask to set up appt. with the broker as well.
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Heidi Golff, Agent, Ventura, CA
Wed Jan 11, 2012
I can help you with this; however, it's my understanding that a streamline 203K (up to $30,000 for repairs), will not work for a house with foundation issues. What you need is probably a non-streamline 203K which takes more time and more work, but can be worth it. Give me the address; email it to me at and let me see what I can do.
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Ron Thomas, Agent, Fresno, CA
Wed Jan 11, 2012
I think there are a whole of RED FLAGS here!
Are you sure you want to pursue this?
It also sounds like you do have your own Agent representing you; that is the first thing you should do.
Normally, you won't see a Pre-Title until you are in Escrow; so that is not unreasonable.
If you made an offer with Inspection and Appraisal Contingencies, you would be protected and could walk away: Have your Agent write them for 20-30 days so that you have time to inspect thoroughly.
Plan on asking the County for an inspection so that you will be clear with them.

Good luck and may God bless
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