Here's another great HUD home for sale in Elk Grove!
This Elk Grove HUD home is ready for a buyer! This four bedroom, two and one half bathroom HUD home could be the one for you. Property is in need of lots of work. Take a good look at the work that needs to be done... Sheetrock, stove/oven, fireplace, kitchen counter and sink, HVAC, plumbing & water heater are in need of replacing and/or repairing. This is just a partial list of repairs for the property so take a good look.
16 Sharlo Court, Elk Grove, Ca 95758 4 bedrooms 2 bathrooms 2157 Sqft $275,000
This HUD home in Elk Grove is a true fixer. There is a laundry list of repairs that need to be made. For this particular HUD home, the repair list will prevent the buyer from getting traditional financing. Make sure you work with a HUD Registered Real Estate Agent who understands this. If you tried to get traditional financing on this one the appraiser is going to pick the place a part. He or she will come up with a list of repairs that need to be made prior to closing. Unless specified in the beginning, HUD is NOT going to make repairs to the home.
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Some buyers who are looking to live in the home are going to see these pictures and freak out! Now take a breath and look for the opportunity. I would think about it in a different way. Where is the opportunity to get a deal when other buyers are running away from this home?
Although you may not be able to get traditional financing on a home like this there is a loan program that would be perfect for it. If you are looking to live in the home, there are a couple things you needs to know. Due to the condition of the Sacramento HUD home, you will not be able to get typical financing. Most lenders would take one look at this home and deny your loan due to the issues with the condition. There is a loan called a 203k that would be perfect for this home. It will allow you to roll the cost of the repairs and upgrades into the home. Read more about how to use a 203k loan to buy a HUD Home >>
Make sure you are working with an Elk Grove HUD Approved Agent. I see HUD homes go off the market one day and 2 days later they are back on the market. Most likely this is because the real estate agent who represents the buyer has no idea how to navigate through the HUD home buying process. HUD is particular and they have their own way of processing these closings with their required deadlines. It's hard enough to get your offer accepted right now for a home in Sacramento. Don't loose out on your accepted offer because you agent can't navigate through the process. If you don't meet your deadlines during a HUD transaction, your deal gets kicked out and the next buyer in line gets the home. Don't miss out on this great Elk Grove HUD home. Bids are being reviewed on this home every day until a bid is accepted! Call me at (916) 585-3858. I am here to help you buy this HUD home in Elk Grove.
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