Bank Owned Foreclosures, Brooklyn Park, MN 55445 and 55444,FHA 203k rehab and fixup financing

SHORT ON CASH?  DON'T LET THAT STOP YOU.

Take advantage of todays market. Foreclosed and bank owned homes are being sold at warehouse prices. Financing your repairs is easy and cost effective with FHA 203(k) financing.

                    $99,900                                                                          $132,900

            Brooklyn Park, MN 55444                                           Brooklyn Park, MN 55445

   4 bedroom, 2 bathroom, 2 car garage                    4 bedroom, 2 bathroom, 2 car garage

Bank owned foreclosure properties can now be purchased at wholesale prices. Turn these properties into "CASH FLOWING PROPERTIES" with minimal cash out of pocket.

FHA 203(k) Financing Eligible Improvements

The homeowner can use the 203(k) program to finance items like painting, room additions, anddecks, even if the home does not require any other improvements. Health, safety and energy conservation items must be addressed before completing general home improvements.

Required Improvements

(as noted from US Deparment of Housing & Urban Development)

All rehabilitation construction and/or additions financed with Section 203(k) mortgage proceeds must comply with the following:

A. Cost Effective Energy Conservation Standards

Rehabilitation of Existing Structure. To improve the thermal efficiency of the dwelling, the following are required:

a) Weatherstrip all doors and windows when existing weatherstripping is inadequate or nonexistent.

b) Caulk or seal all openings, cracks or joints in the building envelope to reduce air infiltration. 

c) Insulate all openings in exterior walls where the cavity has been exposed as a result of the rehabilitation. Insulate ceiling areas where necessary

d) Adequately ventilate attic and crawl space areas. For additional information and requirements, refer to 24 CFR Part 39.

Replacement Systems

a) Heating, ventilating, and air conditioning system supply and return pipes and ducts must be insulated whenever they run through unconditioned spaces.

b) Heating systems, burners, and air conditioning systems must be carefully sized to be no greater than 15 percent oversized for the critical design, heating or cooling, except to satisfy the manufacturer's next closest nominal size.

        Smoke Detectors

Each sleeping area must be provided with a minimum of one (1) approved, listed and labeled smoke detector installed adjacent to the sleeping area. Carbon Monoxide Detectors may now be required, check with your local city/county authorities.

FIRST TIME HOME BUYERS NOW QUALIFY FOR A TAX CREDIT UP TO $7,500 in addition to: 

                                                                National Real Estate Stimulus Program                                                        

The National Real Estate Stimulus Program is now available to all buyers of real estate in Minnesota and Wisconsin. Now all buyers purchasing any property qualify to receive a cash bonus of one point seven percent of the sales price, up to a maximum of ten thousand dollars. A tax-free cashier’s check is mailed to the buyer after closing and upon receipt of proof of purchase and verification of identity. All buyers qualify for this stimulus program regardless of price range, income, type of real estate or financing. If you are thinking of purchasing a real estate property, you qualify for this real estate stimulus program. For more information on how you can receive your real estate stimulus program bonus, contact Renee Johnson of Exit Realty Executives. Renee Johnson may be contacted at 763-548-1408