Updated over 5 years ago on . Most recent reply
Buying a GUTTED HOME
We found a home in a very desirable location in California. It is completely gutted as the seller was a hoarder and ordered to move out. There are zero cabinets, zero sinks. All showers, tubs, and toilets have been removed.
We, unfortunately, need financing to make an offer on this house. The current offers are up to $80k above asking. We would like to make an offer but we are not a cash option.
Any tips on finding a lender that will finance this?
Any other way to make our offer stand out?
Thank you!
It has so much potential but the house is in ruins. All flooring removed and the seller has owned it since 89.
Most Popular Reply
If it is listed on MLS and already $80k over ask price, it is likely not going to end up being a deal for you, especially since you are not all cash like the other offers. To finance a deal like this, you need hard money or private money, the home will not qualify for conventional financing due to its condition.