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Nesgroup address: misc.invest.real-estate - Date & Time for the message: Wed, 27 Apr 2005 19:28:38 GMT
/ Author of the message: "R.Weber" |
Title of the message: |
Re: Trying to buy Foreclosure
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Text of the message: |
The house needs a lot of work and I'm sure that a contractor would need to be involved. However, HUD and Fannie Mae both have loan packages for just this scenario. A portion of the loan proceeds are designated for repairs. Of course the lender needs to make sure that the house is livable and appraisable but I wouldn't think that this should make any difference to the seller. I've always been under the assumption that sellers of foreclosures want to move the property as quickly as possible with little additional expense. Thanks for your reply. Regards, Robin > > My wife and I have made two offers on a foreclosure to buy it as-is. > The > > listing agent handling the sale says that the seller wants to make > repairs > > before selling. The home is owned by FHLMC and being sold through > their > > Homesteps program. Estimates to repair are a minimum of $30k. We have |
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Estaplace.com is one the Ceglia Giovanni projects, started on 20 July 2005, and online since 20 August as a real estate platform for listings, mainly operating on the Italian and American/English market in the Internet, Estaplace would like to become the point of referiment for home sellers and home buyers, a site where private owners or real estate agencies can have the possibility to show their offers to the world. Estaplace.com is only one of the Giovanni Ceglia's sites. Everyday Giovanni Ceglia works to improve new Internet tools and services for online marketing and business. Estaplace.com will become the biggest portal for real estate business and investments online.