I see lots of homes each year and you would be surprised at that ways the FHA 203k can help fulfill your dream home plan.
What can we say about this home? It was in a fire some time ago, there is no reason for it to still be in this condition. Buyers walk for whatever their reasons may be.
The home had a CO or Certificate of Occupancy at least a year ago, and we have the foundation, then it is a 203k potential sale or refinance. The buyer in this case likely received their insurance money and walked to find another home... that is okay. Lets say the kept the money and stayed... it could have been a total renovation for somewhere below 5% interest in most cases and possibly under 4% where it was last week.
The owners could have put it on the market as a 203k special property and marketed that way for a new buyer would be able to put all new everything except the foundation which qualifies it for the 203k loan program. This could be a 203k or HomeStyle home, as is.
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