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Updated 4 months ago on . Most recent reply

User Stats

32
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5
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Tekoa Glover
5
Votes |
32
Posts

Is it possible to get lending

Tekoa Glover
Posted

Is it possible to get funding for fix and flip on a D title mobile home that has been secured to the foundation with a Bric on pending is considered real estate in the state of South Carolina?

  • Tekoa Glover
  • Most Popular Reply

    User Stats

    65
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    15
    Votes
    Alexis Sostre
    • Lender
    • Los Angeles, CA
    15
    Votes |
    65
    Posts
    Alexis Sostre
    • Lender
    • Los Angeles, CA
    Replied

    Many lenders will treat it as real property, which opens the door to fix-and-flip or renovation financing. However, "Bric on pending" suggests the brick underpinning is in progress. Most lenders will require that work and the detitling paperwork to be fully complete before closing on the loan. Appraisers will also check HUD tags and compliance with manufactured housing standards. If the detitling hasn't been fully recorded yet, you'll likely need to Finish the permanent foundation work on which you said has a foundation already, Get the final inspection/certification, Record the detitling with the county, Then apply for funding. Hope this helps!

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