People have many reasons for selling their homes and after you decide to move forward, I'd like to encourage you to interview Realtors.

While your friends and neighbors liked their Realtor, that does not always mean that you will like them. So shop around. There is nothing wrong with interviewing a few Realtors.

A word to the wise - tell the Realtors that you are interviewing them and that only one person is going to help you ultimately. Most will be willing to give you their opinion (on the home), as well as a complementary current market analysis (CMA). From all of this information you can make an informed decision before choosing one. Of course one plug for me and my Company, please include us! 

All our best, CC & Company LLC

Many properties in the current market, especially distressed ones or those that have been vacant for an extended period of time; can be great buys.

But they can also come with challenges. 

The challenges could be significant damage: water or mold, missing essentials like furnaces, hot water heaters, etc.

Traditional mortgage programs, such as those offered by Fannie Mae and Freddie Mac, shy away from properties in need of major repairs or replacements. But there are other options, such as the increasingly popular FHA 203(k) rehab program.

This program can roll the purchase price and estimated repair costs into one loan. Let's say you're looking at a home with a purchase price of $100,000, and it needs $15,000 worth of work.

You would go to an FHA lender that handles 203(k) loans and then get a loan for $115,000. The first $100,000 would be disbursed at closing, with the remainder provided for the project as it progresses.

An independent FHA consultant is hired by the buyer, on behalf of the lender, to oversee the process and to protect the interests of you and the lender.

The general contractor is then selected.

The general contractor must be used, instead of doing it yourself or hiring someone you know to do it, unless he or she is a licensed general contractor. The contractor must have references and a line of credit that will allow him or her to pay for materials and services until he or she is reimbursed from loan proceeds throughout the course of the project.

The work must generally start within 30 days of closing and must be completed within 90 days of the start date. For more up to date information on programs like this please call me - 303.905.2881