Sunday, July 28, 2013

Buying a Fixer Property

We have seen in the last 12 months a reduction in the number of properties for sale in Denver.  We have also seen a decrease in the number of Bank Owned and/or Distressed properties too. However there are still many properties out there which would appeal to you if you want to fix up a property.  If you are planning to live in the property, you have to careful about how you finance these type of properties.  The regular FHA program is probably out, you can do an FHA 203K where the loan includes money to do the repairs.  Conventional is an option where you have separate funds to do the repairs.  You should speak to a Lender to find out the best options for you
We have no idea what is in the 'shadow inventory' but it is good to be on the alert of new properties coming on the market.
If you would like to receive alerts of these types of properties, CLICK HERE
If you would like to see some examples, CLICK HERE