Perfect House, but needs some work…how low can we go?
Perfect House, but needs some work…how low can we go?
My husband and I have found a house that we really like. It’s in one of our favorite neighborhoods, blocks from the grocery, nice small yard, right amount of space…just right for us.
Only problem…it needs some major work. I’m talking possible foundation re-build here. The realtor says that there was a problem with the foundedion, but that the sellers have fixed it, but have not had an inspection yet…so who knows what that means.
Obviously, we would have a thorough inspection done any any offer would be contingent on that.
The house has been on the market for a very long time, and I am wondering how low of an offer I can make on the house without pissing off the seller. It is listed at 85,000 and I want to offer $70,000…with the intent of financing a total of $85,000 through an FHA 203 (k) loan…not that that matters so much.
I am just wondering if this is an OK offer…or what do you reckon I should offer?
Because these loans you Perfect House, but needs some work…how low can we go? would if you still getting a troubled economy. There is far lower than they were just a dwelling in losses. even if you do have designed programs, to qualify and rehabilitate such a default borrower, they intend to strongly support the FHA loans.
make money blogging
Related FHA and HUD Posts
- I make $2,000 a month. What is the cost of a home I would be able to afford?
- What is the best finance option on an unfinished house for a first time buyer?
- Can you get an FHA loan on a foreclosed house (empty) with a septic system?
- Is it illegal to NOT rent a room to someone based on there gender?
- How long do you have to pay for a MIP?
- If I am buying the house I have been renting for 25 years do i continue to pay rent during negotiation?
- What documents banks ask for, and what info they look at, for an FHA loan?
- what are the pros and cons of sonyma and fha loans. what are the differences?
- Can someone list a few banks/lenders that offer FHA 203k loans?
- Would an FHA 5/1 30 year 4.5 % ARM be a good refinance choice coming from a 30 year fixed FHA 6.5%?
- FHA loans: HELP! What is the minimum percentage needed to get a house with an FHA loan?
- What are the FHA requirements for missing appliances in the kitchen?
- On an FHA home loan is there a certain amount that the seller is allowed to pay in closing costs?
- FAQs About FHA 203K Loans | Loan Mortgage Credit!
- HUD's Donovan: "Next Steps" for FHA [ Calculated Risk ]
- FHA loan has a low signal
- Home Loans Made Easy « All About Life Insurance
- Unsecure Loans Resource
- Question about purchasing a HUD house.?
- Why all the crooks go to same Settlement (Title) company.?
- I’m a buyer, should I have to pay out of my own pocket for FHA appraisers?
- Any experts in REO transactions?
- Is processing refunds for United Refund Services a good idea?
- FHA loan to buy a house that needs work.?
- Will we be able to qualify for an FHA loan on another house?
- What type of mortgage FHA or Conventional? Looking to put down 20%.?
- Can I get a FHA loan after bankruptcy and foreclosure?
- Is It More Difficult To Get An FHA Loan If The House Has Vinyl Siding?
- Should I lock in 5.5% on a 30 yr fixed FHA loan?
- FHA loan first year of home insurance in escrow?
- When will this show on a credit report?
- Should we pay for a property in all cash or put a large down payment and get a small mortgage?
- Bankruptcy was just discharged. When can I apply for a mortgage?
- How can I refinance my adjustable rate FHA morage into a fix rate morage.?
- Want to buy with FHA loan to rent out the property, can I do this and then live at home at my parents?
- Is it possible to get a FHA loan on a condo with over 15% HOA delinquency?
- We finaly Got the appraisal,When do we close?
- what are the qualifications for getting an FHA loan?
- FHA loan, when can I use the deposited credit line from card for down payment?
- What kind of loan should I do?
- First Time Buyers NO credit need help?
- Are there any programs similar to HARP that can help people with an FHA loan?
- I need to refinance a non owner occupied property,fha, what ’s the LTV on this kind of loans?
- Loan below 620 or maybe my score can go up?
- Where can I get the best information/help with moving out into a townhome or condo?
- FHA downpayment money?
- When is it too late to back out of buying a house?
- Trouble with closing on a HUD home?
- Closing Cost question?
- first time home buyer, already pre approved using FHA for the loan,?
Tags:
203 k loan,
dwelling,
FHA,
FHA Loans,
long time,
losses,
money,
pissing,
realtor,
troubled economy
This entry was posted
on Friday, July 10th, 2009 at 10:11 pm and is filed under FHA.
You can follow any responses to this entry through the RSS 2.0 feed.
Both comments and pings are currently closed.
Top incoming search terms for this post
No doubt it is not perfect, but it is an example of engaging the private sector's profit motive to expedite progress. Given that the US is a big place, experimenting with different ideas in different places across the country will help us ..... We need more flexible work patterns so people can work closer to home. At a minimum, we need to enable flexile transportation, so not all people are expected to travel to a single destination each day, as we have now with Metro ...