You know, that listing of yours that is really not so bad but is so outdated or the kitchen or any part just kills all maybe might have some interest.
If some one could just see all that potential you will have a happy seller and we know the seller doesn't have the money to fix it up or they "don't want to make a decision on what the buyer might want"
So what is a smart Realtor to do?
Call your local professional mortgage professional and ask if they can do a Streamline 203K. Then get a few bids from contractors detailing the work and then add in a nice artist rendering of what it would look like.
WHAT? How does this work?
The 203K Streamline will allow for up to $35,000 of repairs or updates if you will. The home really should be "livable" after all it is the intention of this program that the new homeowner is able to live there and not have to pay rent and update or fix the place.
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The home is appraised as the work is already completed
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The loan is for the purchase price plus the improvements less the 3.5% down payment
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At closing the seller gets their money and the new owner has the improvement money left in escrow and as the work is completed brings in the bill and it gets paid.
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All work should be able to be completed in a timely manner (90 days)
Ok so it isn't as easy as having the perfect listing BUT with the amount of homes for sale some good some bad and some just ugly, being able to give your seller and your listing just a little something to make them stand out from the crowd is all you are really after
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