Conventional loan on house w/o central AC sale price 45k

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Hi I’m about to sign into escrow on a bank owned foreclosure with my first private lender partner who will fund the purchase price @ $15.2k. We plan to rehab and sell looking nice for $45k or more. I don’t want to go to the expense to add central A/C or a furnace. If I were to put a window AC or two in and a couple wall propane heaters on the walls, would a bank do a conventional loan for a regular buyer on something below $50,000 that doesn’t have central heating and cooling? Any help is appreciated.
@Jonathan Greer why not a mini-split system? That would be a much more attractive addition for buyers and much cheaper than a central system

@Account Closed - Granted, I'm from an area where I've never seen a house without a furnace (or steam system for radiators or gravity heater or such) but I can't see why a lender would care if a buyer does? I don't even think it matters for government loans, honestly, and those are usually the most red tape around.

If needed, go to (or call) a local lender (to the area where you are flipping this house, like everyone else, I doubt it's actually SD?) and ask if that will be an issue and what options you have if it is an issue for lending. Offering a credit? A few window units?  

That seems the smartest move to me. People can have different answers but why listen and then find out later that it's still an issue when it's under contract and the price is set? Figure it out now and if needed, price it to compensate for the additions needed, not when it's too late. Also, rules in lending change like the wind, so best to call a few of the biggest ones and ask.

Thanks @Aaron K. , I’ll have to call some lenders and maybe even ask the seller’s agent if he knows anything. You are 100% correct, haha the house isn’t even close to San Diego. It’s in the mountains of Virginia. We’re moving to East Tennessee, so I’m starting to invest in low risk house flips or rentals. It sits on 1.75 acres though..
Wow @Jason D. , I just got a lesson on mini split systems from YouTube. Thank you. Those are really cool and I’ll have to look into pricing. Another guy on here, pretty sure his name is Mark Fries, hires guys to put in used A/c units. That sounds like something to consider. I’m starting to like the idea of doing the HVAC system myself and maybe hiring out a refrigerant certified guy to prime the mini split etc. Very cool idea and I like the simplicity. Thanks for the tip.
@Melissa Kirchhoff ok, sounds good. You’re right this is in VA not CA. I’ll have to check with the local lenders for the low down on this and maybe a couple big banks also. Great tips, thanks.

@Account Closed - Great idea in the move and investing out that way now! Also, having that land I always think is a good idea and seems like an amazing price for that. Be cautious of asking seller's agent, remember what their job is ...

Also, do you have a buyer's agent? They are usually seller paid, so you should probably get one if you don't, and that's the sort of questions they should know or know lenders to be able to talk to to get you those answers. Also, for other due diligence issues since you aren't familiar with the area, I think it would be an excellent move, they might have some inside knowledge that might save you from buying a pig.

Good point on buyer’s agent @Melissa Kirchhoff . The last bank owned little deal I closed I used a buyer’s agent. She bailed on me over the holidays and didn’t rep me well. The commission on bank owned is weird on these small pieces. They get like $1000 straight out if your not the sellers agent. I think the sellers agent might get $2000 straight out if they close t all, so I’ve found pretty good communications from him and quick responses on my lower offers. He may represent them, but I don’t have to be forced to their terms if I don’t get desperate in those circumstances. They may be hungry to get this thing off their hands. If not, I’ll move on. We’re negotiating the prices now over extra expenses. Thanks and I still need to talk with bank lenders on criteria for potential buyers of these once flipped.

@Account Closed - I'm sorry your last agent did that, that's really ******! But yes, that's how they work around here as well (actually the 1k is decent compared to many other properties around here) but I never think that should be an excuse to bail. And I have no issue with dual agency, especially on REO. I just thought you weren't really be represented! Good luck, those bank-owned can really be great and around here they are drying up big time. So get on them while you can!

A heating source is required for financing a home (conventional, VA, FHA). An a/c unit is not. Thus your looking at the next buyer's source of money to finance you need the heater. At your price range is a cooling unit even a necessity to sell?

@Thom MacFarlane ok thanks for that info. Very interesting for just a heater and not A/C. I think I should probably put some more work into the place and shoot for a higher ARV that appeals to lenders. The area has high end homes and old low end, so I might as well risk a little more time and $ to shoot for a home a bank might want to be a part of. Now I’m curious where those margins start.