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Updated over 5 years ago,

User Stats

46
Posts
9
Votes
Ramon Mota
  • Investor
  • Northern California
9
Votes |
46
Posts

Getting loan on distressed property

Ramon Mota
  • Investor
  • Northern California
Posted

Hi I put in an offer on a house in my area site unseen yesterday. Today we are going to see the home for the first time and the sellers agent said it may not qualify for conventional lending. The first house we bought 8 years ago was a foreclosed home. We almost lost the deal because there was no refrigerator. We talked to our agent and placed a refrigerator in the house to close the deal. 

My question is what is needed as far a fixtures and working amenities to close? 

We will be using the home as a rental and wanted to us our personal money to rehab. But we wanted a easy 30 year fixed loan.

I would love to hear some ideas on this subject or to be pointed to a good post about it. 

Thank you.