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Updated over 5 years ago on . Most recent reply

Karima McKenzie's profile image
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Karima McKenzie
  • Investor
  • from Jersey City, New Jersey
  • Member since Sep 5, 2015
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Karima McKenzie's profile image
Karima McKenzie's profile image
Karima McKenzie
  • Investor
  • from Jersey City, New Jersey
  • Member since Sep 5, 2015
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Karima McKenzie
  • Investor
  • Jersey City, NJ
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Buying & Selling Real Estate

203k Loan - Sell Property

Karima McKenzie
  • Investor
  • Jersey City, NJ
Posted

Can you sell a 203k loan structured house before the construction is completed? As is? Can the bank apply the renovation funds to the Principal?

We closed on the house Oct 31, 2018. Had very bad experiences with contractors and would rather sell and start fresh at this point. What are our options?

The bank is not being cooperative with giving us a payoff amount minus the construction? Can they do this?

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