Updated over 2 years ago on . Most recent reply
Not sure what to do
Looking into purchasing a duplex for 175k. However, closing cost are exactly what I have in cash 20k. I was planing on doing renovation to the first floor as the second floor is ready to go. This will be all done through an fha loan. The seller is not offering seller credit but is willing to do the repairs to meet the fha requirements.
Should I proceed and buy the property?
And take out a loan for the renovations?
Any tips or suggestions would help.
Thank you
Most Popular Reply
Closing costs are $20k on a $175k deal?? That doesn't add up. Should be no more than $5k.