Hold the phone here, *you* may be eligible to purchase a home but is the house eligible for financing? Below are links to a series I am working on so you can do your own research about homes that are not eligible for financing due to condition.
Here is a series that is for Las Vegas area home buyers that are using financing. DISCLOSURE: I am not a lender, title company, home inspector, contractor or appraiser. I am only speaking from personal experience by working with financed Las Vegas area home buyers. Hopefully you have hired a Las Vegas area real estate agent who will be able to spot things that can *potentially* cause problems with your financing (mostly FHA/VA) before your contract to purchase a Las Vegas area home.
Much of Las Vegas is currently priced in fire sale status. Many times when you see unusually inexpensive homes there is a reason – they are not eligible for financing and the seller does not wish to rehabilitate the home to make it eligible for financing.
There are options to finance a home purchase even if it is not eligible for financing such as the FHA 203K rehabilitation loan. Keep in mind, many of these items are subjective and subject to lender underwriter approval. Sometimes sellers will correct defects, sometimes they will not. Sometimes the defect cannot be corrected at all (such as the case of condominium certifications.)
Newest Las Vegas Listings:
We're sorry, but there’s nothing to display here; MLS data service is not activated for this account.
Latest posts by Renee Burrows (see all)
- Home Is Possible – Nevada Home Buyer Grant Zero Down! - December 9, 2016
- Home Inspection Repair Response – Dos & Don’ts - September 17, 2015
- 2 Simple Ways to Save Money NOW On Your Electric Bill - October 7, 2014
- Ikea’s Famous Cinnamon Rolls, Swedish Meatballs, Gadgets and Furniture Coming to Las Vegas - July 17, 2014
- Homes Still Appreciating in Las Vegas June 2014 - July 17, 2014