Help with buying first house

[wayner123]

Originally Posted by darb85

also if I offer less than the asking, but get the loan for say 10-15 more to finish out the house is this a good idea?

Thanks

Just from the last statement above, I would proceed with caution. There aren't many loans left that will allow you to get more money than selling price to renovate with. And those that do, usually want you to have contractor's names, liscence numbers, quote's, etc all prepared before you go to close. So if you are planning to get a renovation loan be prepared for a lot of leg work on your end. I am not certain if they will allow you to do the work yourself without hard quotes on materials and what not.

Originally Posted by wayner123

Just from the last statement above, I would proceed with caution. There aren't many loans left that will allow you to get more money than selling price to renovate with. And those that do, usually want you to have contractor's names, liscence numbers, quote's, etc all prepared before you go to close. So if you are planning to get a renovation loan be prepared for a lot of leg work on your end. I am not certain if they will allow you to do the work yourself without hard quotes on materials and what not.

Good to know! it was just a thought, well see what I do.

[68TriShield]

Barring the unforeseen,it looks nice.Nice lot too.
A couple of those walls though...whew! Loud colors
I hope it all works out Brad.

[trader1974]

Looks like a good place for the money as long as the inspection checks out. Good Luck!