Auction foreclosure purchase and renovation success!
This was my second 203k renovation, but first foreclosure purchased through a HUBZU auction. Won her for $93k. With the 203k renovations, the loan was about $107k. Lucked out by getting a new water heater for free when it fried out and had THREE days of warranty left! Wind storm came through and damaged the shingles, so my insurance company just put a new roof on her! I have not yet had an official updated appraisal, but the Realtor and bank preliminary assessment said that we should expect a final value between $160k and $180k! This is our owner occupied home, so we have been taking our time and are still finishing things. It has been a wonderful experience and I am ready to do it again! She was my "ugly duckling" turned into a swan!