HUD has introduced enhancements to the streamlined 203(k)
program to facilitate the purchase of property that needs only
minor rehab work, including raising the ceiling for repair costs
to $35,000.
This allows a buyer or investor to purchase a property that needs repair and build in the anticipated costs to the loan. It's a good way to purchase a property, improve it, and have equity or sell it. Everyone wins as long as you purchase the property up-front at a fair price. The buyer makes some equity, and the neighborhood is improved as the property is improved.
Feel free to call us at 239-489-4042 to take advantage of this program in Lee County, Southwest Florida. Visit our website Topagent.com To search for listings in Fort Myers and Cape Coral Florida go to LeeCountyOnline.com
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