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Updated 11 months ago on . Most recent reply

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Sam Booth
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Can I get conventional lending...

Sam Booth
Posted

Can I get a conventional loan on a foreclosure home without an oven and oven hood? 

seller won't do any repairs. If conventional is not an option,any other types of loans that might work?

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User Stats

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Sam Booth
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Sam Booth
Replied
Quote from @Jacob Sherman:
Quote from @Sam Booth:
Quote from @Jacob Sherman:

Is this for an investment property ? 


 Investment 


Id go to scratch and dent and get a stove installed . Hows the overall condition of the property > If the appraisal is marked subject to it won't be able to go conventional or DSCR

It needs flooring (bad carpet) painting and there is a hole in the side of a fiberglass tub. Should work for conventional except the oven situation. Looks like my lender can do a escrow withhold and get the oven and hood after closing. Still negotiating with the bank who is asking ARV value. I am trying to get it for around 75% of ARV and waiting for seller to accept offer. 

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