REHAB LOANS-
Bank owned properties which have areas in need of repair or are 'fixer uppers' can be just about impossible for the average person seeking to get a loan. The lender won't loan until repairs are completed; the bank won't make repairs or allow repairs to be made. This closes the doors for most buyers unless they are paying cash! Beware when looking for a deal...if the house has issues, your lender will require they are taken care of prior to loan approval. And if it's bank owned or a foreclosed property or even a short sale, chances are no one is going to make repairs. Looking for an option? See about getting a rehab loan. For more info, ask your lender. http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm.
From your professional Outer Banks REALTOR,
Wende Pritchard, Owner
All About OBX Real Estate
wende@allaboutobx.com
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