Farmington NH Home For Sale 3% Rebate New Price $172,000
HUD homes are government owned by the US Dept. of Housing and Urban Development. Equal Housing Opportunity. HUD will pay up to 3% of the purchase price towards a buyer’s closing costs. This Farmington NH home for sale is in need of some repairs. It will only be sold to a cash buyer or a buyer who qualifies for an FHA 203K loan. Just give me a call, txt, or email and I can recommend lenders who work with HUD.
293 Charles St. Farmington, NH
The house sits an a nice knoll and looks pretty good on the outside. Even though inside is where you’ll notice there is some pet damage, missing or damaged flooring, some missing finish trim, drywall repairs, but otherwise a solid home and looks promising for some fast equity.
HUD Homes Gain Equity Fast
Get money added to the purchase price for repairs and pay only 3.5% down payment with an FHA 203K rehab loan. Downpayment is calculated on the purchase price plus the cost of repairs. I can say from my experience as a Realtor and a contractor, my clients who have purchased HUD homes and utilized the FHA 203K have realized at least 10% equity growth in less than six months using and FHA 203K. The equity growth is based on the purchase price plus repairs verses the final appraisal. These types of projects are approved by HUD and the lender based on a “paper appraisal”. This basically estimates what the home will be worth once repairs are completed and usaully is quite close to the acquisition cost. There is another appraisal performed at the completion of the project. Again, in my client’s experiences, they have all achieved at least 10% equity at the end of the project when comparing the “paper appraisal” to the final actual appraisal. In an extreme case, one of my clients even gained 33% on their project in less than six months. Want to build equity fast? Give me a call.
This Report Brought To You By Marty Patrizi
My company, The Bean Group, is HUD registered and I gladly assist buyers with these propertunities. Feel free to contact me anytime for a personal tour on this HUD home or more information. Bean Group 1150 Sagamore Ave. Portsmouth, NH 03801 603-766-1980 office or 603-781-4099 cell. Email email@example.com.