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Updated 8 months ago on . Most recent reply

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Renee Jones
5
Votes |
21
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3mth Loan To Start Reno - Renovation Funds Held in Escrow (Reinbursment Only)

Renee Jones
Posted

I am doing a job in Shaker Heights OH for which I currently have 150% of budget in escrow with the town housing dpt.

I can only get the funds released once violations are rectified. Where can I go to borrow money to give the contractor in order to get the project started? 60 day turn around, I put 90 just to allow for the unexpected. 30 day reno timeline as per my contractor.

Help! Would love to get this started yesterday 

Most Popular Reply

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6,413
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Bob Stevens
  • Real Estate Consultant
  • Cleveland
3,682
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6,413
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Bob Stevens
  • Real Estate Consultant
  • Cleveland
Replied
Quote from @Renee Jones:

@Bob Stevens

My title guy stated as long as the town can see the funds are in escrow the funds would stay with the title company. That was inaccurate so I'm putting out feelers for options to start the project. Learning and making connections along the way... thanks for your response and any help or expertise you have to share...


 I just hope it goes well, and is worth it at the end of the day. If you need anything reach out. Also I have PM I can recommend. DO NOT try and go it alone. 

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