*reminder if you are uncomfortable with anything up to this point you can back out and get your money back (most of it)(21-30days out)Step8: at This point you need to get back in touch with your lender and make sure they still have everything they need from you. don’t make any large purchases or open any new accounts or you could lose the home. (14-21 days out)Step 9: appraisal... not a lot will happen between the day inspections end & the appraisal.

Although that money would be tax free it puts you in a tougher position down the road and you may even have to do a cash in refinance depending what your property appraises for.

This means you must be the title owner of the property for 12 months until you can use the appraised value of the property.  

The location of the lender doesn't necessarily impact your chances of getting a mortgage or the efficiency of the process however, local lenders have a better understanding of the local real estate market and regulations as they are more familiar with appraisers and other closing professionals in the area which can expedite the process and you will get a more personal touch and easier communication.

People are only paying appraised price for properties so sellers are simply finding someone off market to pay appraisal price and not have to show the properties at open houses and disturb the tenants. 

But the value that can be added in high value markets is greater than in low cost markets.My last value add (purchased Dec 2021) was purchased off market at $2.25M and was appraised at purchase at $2.5M for the loan (so on purchase I "made" $250K). 

The biggest danger I see in using these 0% interest cards is if the home does not re-appraise for what you think it will.

Open to developing the land myself, but in most cases that would require finding a partner, so I'm prioritizing zero-to-low cost options.Recent fee appraisal puts value around $140k.

Appraisal is 105k. 

Appraisal for the Heloc came in over that at 220K last month.