Government first time home buyer's list

Government first time home buyer's list

Real Estate Agent · Miami, FL · Member since 2015 · 21 posts · 7 votes

I am working on a buyer's list and I was just talking with someone who mentioned a friend that buys homes that need some rehabbing. He just does some basic things and then sells partially rehabbed property to people who qualify for a government type of program that allows them to purchase these type of homes.  He says there is a list and that the list of buyers, that qualify for this particular program, is long because there aren't enough homes like this for sell. BUT, he couldn't recall the name of the program and I was wondering if anyone might know about this.  

0Reply
10 views

1 Reply

Jump to latestLatest
  • Real Estate Broker · Orange, CT · Member since 2013 · 951 posts · 218 votes
    10y

    No legitimate mortgage company or government entity is going to post names of qualified buyers. Why can't you just list the house on the MLS as 'FHA Approved' when your done with your basic repairs?

    You need to be a little careful with this strategy.  If buyer's reject the property due to the condition, you may be forced to full rehab the property or significantly reduce the price.  If rehabbing wasn't in the budget, your in trouble.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.