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Remodel & Renovate in Jacksonville : Real Estate Advice

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  • Local Info164
  • Home Buying570
  • Home Selling81
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Activity 11
Sat Nov 22, 2014
Michael Cheng answered:
The decision depends on your current mortgage terms. You may not want to refinance if you've already got a really good rate, like 2.5% or something.
1 vote 1 answer Share Flag
Fri May 30, 2014
Purchase and Renovate your home with an FHA 203(k) loan ... do you need a HUD consultant or any other help ? Homepath Renovation, Homestyle and 203(k) - so many options now days. I specialize in renovation lending Kareem! I also teach a 3 Hour CE in the State of Florida on these programs for free. Find out more at ... more
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Fri Dec 20, 2013
Woody Sitterson answered:
We have several products depending on what is best for your situation. They would allow you to purchase the home and make needed repairs or upgrades.

Woody Sitterson
Real Estate Mortgage Network
Jacksonville Florida
... more
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Thu Dec 19, 2013
Woody Sitterson answered:
For more information on 203k loans cantact a local Jacksonville Florida Mortgage Loan Originator
Woody Sitteson
Remn Mortgage
0 votes 10 answers Share Flag
Thu Nov 10, 2011
Angie Simpson answered:

Have a local realtor look into it. They should be able to find out when the auction is supposed to happen - after probate is complete. If the house is not bought at auction it will go back to the bank and then the realtor can find out who owns it by checking the public records. I have had luck tracking down REO agents that work with particular lenders or servicing companies, and contacting them to ask that they notify me when the listing comes down the line. Perhaps you could find a realtor there that will have some inside info. or luck getting in touch with the REO agent to put you first in line.

I hope it works out.

Angie Simpson
Coldwell Banker
... more
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Thu Nov 10, 2011
Frances Girau answered:
Good morning Jeanette,

You should have a Realtor to assist with making an offer once the property becomes available. There may be some legalities that need to be finalized before the home is placed on the market. Let me know if I can be of further assistance.
Thank you,
... more
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Tue Oct 25, 2011
Myrna Gatenby answered:
I have read the question and the previous answers and I guess there are some things missing from the question that would help us answer correctly.
If you did renovations that did not require a permit, the biggest "penalty" would be on your taxes. If you did the renovations without a permit and one or more was required, I have seen where they require you to pay for a permit (even though it is after the fact),and inspect to be sure the work has been done correctly. If the work is not completed within the rules and safely done, they can have you deconstruct after the fact. (no joke). I am not sure about what kind of fines may be involved, but again, I would think that the worst scenario would be the removal of the addition if done against the rules and regulations. I am not sure about a fine, I would suggest you contact the county building and permit offices ( and ask someone in the permitting office to be sure that you are receiving the correct information. ... more
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Thu Oct 22, 2009
Michael Ofsanik answered:
As a Draw Inspector I can tell you that different lenders require different things. The one's I've worked for require an inspection, which you pay for, every time a Draw for more money is requested. There can be anywhere from 3-5 draws, I charge $100 each.

The inspection requires a walk-through of the property along with documentation (draw request form or equivilant) & 15+ photos showing percentages of work being completed at every draw. Before the final or closing draw is released all work must be 100% complete. Also, at each draw an estimation of the dollar amount of the repairs is given. If work was intended in the beginning but plans changed and the work wasn't done you don't get the money alotted for that project. Such as reusing cabinets instead of buying new ones. If unforseen work is needed a Work Change Order can be requested by the contractor. There is also a 10% hold back in case the project runs over budget.
... more
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Mon Oct 19, 2009
Anson Bowden answered:
Is there a reason that these funds are not available once the project is final? My loan officer is telling me that the contingency reserve could be 10, 15, or even 20% of the total renovation cost. I'm trying to keep the renovation costs as low as possible in order to keep my mortgage payment low. It would be great to be able to use these funds. I guess I could always leave some "unforeseen items" out of the cost estimate. ... more
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