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New Member
Posts: 5
Registered: ‎04-02-2012
0

USDA Rural Housing Loans Foreclosures & Fixer Uppers?

Just curious how this works?  The home we are most interested in for our family, is a foreclosure at a great price, but a bit of a fixer upper.  The broker had mentioned no fixer uppers but I am not sure what is considered a "Fixer Upper" technically.  This house will need new paint & carpet, but the basement was sectioned off into a daycare previously & not very well.  The walls are here and there & we would definitely want to knock down walls and drywall the basement the right way.  Would this be a problem since we are going through USDA?  TY! :smileyhappy:

Established Member
Posts: 50
Registered: ‎04-05-2012
0

Re: USDA Rural Housing Loans Foreclosures & Fixer Uppers?

USDA has set requirements that you must meet.

 

For instance I signed a contract with a house that has no heat and no water heater. This is a NO NO for USDA which I am going with. You will need to make some sort of agreement with the seller to get this to work out in your favor. At least that is what I am trying to do. Ill keep you updated as I only have 4 1/2 more weeks before I close.

 

 

New Member
Posts: 5
Registered: ‎04-02-2012
0

Re: USDA Rural Housing Loans Foreclosures & Fixer Uppers?

Ty for your response.  Please keep me updated.  The problem with this home it's a foreclosure...  So, if there is a repair Im sure we'll just be out of luck on this house.

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