Most rehab loans offer 85 to 90 percent of the purchase price and 100 percent of the renovation costs.

The Sampling Method is typically used for properties with nearly identical blueprints such as fast food chains or nursing facilities.EXPERIENCE OR “RULE OF THUMB” APPROACHThis approach is based upon the specialist’s experience in the industry and their ability to estimate the costs.

It’s been pretty competitive here (partly bc we’ve gotten some BP nods over the last year) but I’ve definitely noticed a drop in offers and competition.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

We offer their Customer insurance and follow the state Lien/Auction laws.d.

Can you dig into a little more on the novation, why did the seller pick that strategy say over a cash offer?

Offering a refundable fee would have to come out of your pocket.

-> Besides doing your market research, i strongly advise that before any purchase or offer, that you hire professionals to help you in the process.

Here is a list of lenders offering such financing: https://www.biggerpockets.com/member-blogs/2810/50272-list-o...

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!