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.

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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.
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Tags: 203 k loan, dwelling, FHA Loans, long time, losses, money, pissing, realtor, troubled economy,

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