Updated over 8 years ago on . Most recent reply
Buying a house when demo has started
Hello all,
I'd like to know what type of options are available in this situation.
Home is owned by an investor who just completed demo.
Buyer has enough to complete entire renovation + 20-25% down payment.
Basically buyer needs some bridge financing so they can do conventional financing at a later point. Buyer plans to live in home. Buyer wants the ability to pay the Reno on their own - worst case draws can come out of escrow but should be able to use whoever they want to complete work.
The changes that need to be done are cosmetic - bath, floors, kitchen.
What can be done?