Ever been in a situation where your buyer has finally found that perfect home, only to learn that it won't pass inspection? Maybe the furnace doesn't work properly, or a couple windows are broken or cracked? To add to your frustration, the bank is selling "as-is" and refuses to make the needed upgrades to make it possible to secure your buyers FHA financing.
If this is your situation, the simpliest solution may be The Energy Effficient Program. This program allows FHA borrowers to roll in the cost of certain energy related upgrades into their home loan.
This makes it a win-win for everyone: the lender knows the funds are already set-aside for the needed upgrades, buyer closes with the fundsreadily available to upgrade their home, the seller can make the sale without coming out of the pocket the pocket to do additional upgrades.
Here's a video short I did on the subject.
Be the way, I did not mention it in this clip, but this a great program for REO listing agents to get well versed on. You can find more detailed info on this program at http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/eem/energy-r .
To Your Success!