When a HUD home goes through it’s list of inspections, an FHA appraiser is one on them to determine the AS-IS value. One of my HUD Home Buying Secret’s is that if you buy a HUD you can “reuse” the appraisal most of the time saving you time and $350. In July of 09 this 3-4 bedroom 2 bath raised ranch appraised for $95,000. It is currently tax assessed for $115,000. HUD’s new asking price is $85,500 but the inside info is even better than what I’ll share with you here.
There is a .31 (1/3) acre lot, finished basement, aluminum siding ocer 2,000 sqft., a stove, frig and dishwasher. You can either finance this FHA and remodel as you go after the closing out of pocket or you can use the 203K rehab loan and polish it up right after closing, essencially financing the fix up costs. And yes HUD can pay for some of your closing costs about $2,400. Call me for more info and make sure you get qualified by a bank, HUD insists. Call John 315-952-2671 DIRECTIONS 517 Valley Drive. West, Chittenango Available immediately.
