How 203(k) Can Aid Foreclosed Homes Outlook
Posted by Bill Mann on
One of the key factors serious buyers eye when appraising foreclosed homes for sale in the Rehoboth Beach real estate market is condition – the shape those properties have been left in. The Federal Housing Administration has weighed in with a program that can materially affect how that condition – good or bad – will finally affect the bottom line: it’s known as the FHA 203 (k).
If you are among those currently looking at Rehoboth Beach foreclosed homes for sale, the 203(k) can make a big difference. Here are some points that might influence your decision:
First in line is whether the program is applicable. HUD tells us that for a local property to be eligible, it must be a one- to four-family dwelling that has been completed for at least one year.…
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