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* JOIN ME FOR NEXT WINE'D DOWN NOW ON WEDNESDAYS - MAR 3RD e 4 PM email Asheteamnakanishi.com for an Invitation FACTS ABOUT FIXERS A HAWAI'I LIFE EAL ESTATERROKEES It's fairly common REALTORSO to a fixer involves much more than just the possible to have some repairs done prior to receive calis from buyers looking tor willingness to do repairs. Remember, the recordation. Because lending rules change REO (real estate owned) or fixer-upper two components of a loan are buyer strength almost daily, be sure ask your lender how to Licensed Vacation Home hawaiianrealty.com 800-667-5028 ext. 8122 Denise S. Nakanishi Properties. REU are foreciosed properties and collateral (the property). Loans with little structure both your purchase contract and RB-17031, ABR, CRS, GRI, SRS ow owned by a lender. Most fall into the or no money down are highty scrutinized by contractor payments. It may be possible to fixer-upper category. Buyers generally feel underwriters who much cautiously assess find a contractor who will agree to be paid out that accepting a fixer-upper might provide the lender's exposure. Lenders don't want of the seller's proceeds if the lender allows a much-needed price break while others to be stuck with a property that will bring it. Most don't these days. An appraiser is are looking for something they far less than owed at a foreclosure sale. This normally required to verify completion of any can improve and resell for a quick is exactly what happens to homes needing repairs that must be done prior to closing. "Major Mom is a Major Difference" BEST Hawaii profit. Keep in mind that trying major repairs. With a healthy down payment Those short on patience and weak in the to buy a "fixer" using OPM some lenders will accept these properties if pocket are well advised to consider other (Other People's Money) is not repairs are made by a licensed contractor. options. Remember, get started any way you TrikunPiera a simple process. Fact is, buying A construction loan may be required it can. Adjust expectations of location, house such a property with little or no extensive repairs are required. A FHA or land size but not necessarily property money down is virtually impossible. Just Section 235 loan (3.5% down) allows buyers condition. Today's buyers no longer consider like an auto lender who wants to be sure a with verifiable experience to make repairs their home a forever commitment. Start car runs before they loan on it, home lenders themselves. It's not an easy process and small and work your way up. Until then, 2020 East 3 bedroom, 2 bath, 1600sf, lush gardens, lanai decks, chefs kitchen, soaring ceilings, owned PV. cell 936-5100 majormom@ilhawaii.net want to be sure a house can, house. Buying one requiring a very patient seller. It is also remember to "Keep the Faith"! MLS #646557 $310K FIND MY COLUMN EVERY SUNDAY OF THE M ONTH. Watch "HAWAII LIFE" on HGTV! * hawaiianrealty.com hawaiianrealty.com hawalianrealty.com. hawaiianrealty.com * * JOIN ME FOR NEXT WINE'D DOWN NOW ON WEDNESDAYS - MAR 3RD e 4 PM email Asheteamnakanishi.com for an Invitation FACTS ABOUT FIXERS A HAWAI'I LIFE EAL ESTATERROKEES It's fairly common REALTORSO to a fixer involves much more than just the possible to have some repairs done prior to receive calis from buyers looking tor willingness to do repairs. Remember, the recordation. Because lending rules change REO (real estate owned) or fixer-upper two components of a loan are buyer strength almost daily, be sure ask your lender how to Licensed Vacation Home hawaiianrealty.com 800-667-5028 ext. 8122 Denise S. Nakanishi Properties. REU are foreciosed properties and collateral (the property). Loans with little structure both your purchase contract and RB-17031, ABR, CRS, GRI, SRS ow owned by a lender. Most fall into the or no money down are highty scrutinized by contractor payments. It may be possible to fixer-upper category. Buyers generally feel underwriters who much cautiously assess find a contractor who will agree to be paid out that accepting a fixer-upper might provide the lender's exposure. Lenders don't want of the seller's proceeds if the lender allows a much-needed price break while others to be stuck with a property that will bring it. Most don't these days. An appraiser is are looking for something they far less than owed at a foreclosure sale. This normally required to verify completion of any can improve and resell for a quick is exactly what happens to homes needing repairs that must be done prior to closing. "Major Mom is a Major Difference" BEST Hawaii profit. Keep in mind that trying major repairs. With a healthy down payment Those short on patience and weak in the to buy a "fixer" using OPM some lenders will accept these properties if pocket are well advised to consider other (Other People's Money) is not repairs are made by a licensed contractor. options. Remember, get started any way you TrikunPiera a simple process. Fact is, buying A construction loan may be required it can. Adjust expectations of location, house such a property with little or no extensive repairs are required. A FHA or land size but not necessarily property money down is virtually impossible. Just Section 235 loan (3.5% down) allows buyers condition. Today's buyers no longer consider like an auto lender who wants to be sure a with verifiable experience to make repairs their home a forever commitment. Start car runs before they loan on it, home lenders themselves. It's not an easy process and small and work your way up. Until then, 2020 East 3 bedroom, 2 bath, 1600sf, lush gardens, lanai decks, chefs kitchen, soaring ceilings, owned PV. cell 936-5100 majormom@ilhawaii.net want to be sure a house can, house. Buying one requiring a very patient seller. It is also remember to "Keep the Faith"! MLS #646557 $310K FIND MY COLUMN EVERY SUNDAY OF THE M ONTH. Watch "HAWAII LIFE" on HGTV! * hawaiianrealty.com hawaiianrealty.com hawalianrealty.com. hawaiianrealty.com *