McLennan CAD Property ID:xxxLegal Description (partial):xxx Block 3 Lot 4B 5 Acres 0.2083 ADDRESS: 2222 xxxx Ave.Waco, Texas 76706-2906DWELLING: The house and outbuilding(s) located at the above addressSELLER:Maria S xxxBUYER:Waco House BUYER, LLCTERMS:$xxx CashTerms and ConditionsSELLER warrants there are no outstanding “fix-it” letters or letters of demand for repairs, code violations, hazardous conditions or red tags from the city, county, or any other government agency.Offer is contingent upon BUYER being able to obtain a standard fire insurance policy.BUYER agrees to waive standard lead-based paint and asbestos tests required for older properties—years built from 1938 to 1952.SELLER warrants DWELLING is “hooked up” and serviced by city/county water and sewer providers.BUYER has observed marginal condition of roof on the DWELLING.

Here's the official description: Section 203(k) insurance enables homebuyers and homeowners to finance both the purchase (or refinancing) of a house and the cost of its rehabilitation through a single mortgage or to finance the rehabilitation of their existing home."

The appraiser had not been inside the property had to use the selling agents description on the condition.  

I was just surfing the MLS as I sometimes do and came across a listing with this description "Nice income potential.

The public records show the Engineering Executive Summary Report of recommendations and also the foundation consultant company that performed the repairs NOC.While the engineering company has a good descriptive summary and many references to the Florida Statutes, the NOC just lists "foundation repair" with no other description of work that would be done.I called both companies to get a copy of the actual final report and neither would relinquish a copy because I'm not the "owner".

In an auction environment you can exceed 10, 15 nor maybe 20% of a reasonable estimated market value, but that market is also different, it's not like dealing one on one.Predatory waters is my description for acts or attitudes that expose you to much higher risks of violating applicable laws, it's not a law itself (but can be specifically in certain aspects).

Photos, descriptions, availability, etc., are all updated real time from your dashboard.I have a contact at Kigo if you're interested and I could dig it up.  

You should check your plan's Summary Plan Description" (SPD) before proceeding and if it's not allowed it would be deemed to be a loan which will have to be paid back before you retire or leave the plan.

If I were you, I'd step back from this one...it should definitely not be completed this way...not based on your description of your original scenario.

And include the legal description and parcel number of the lot as well.