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Demystifying Renovation Loans Educating Buyers and Agents for a StressFree Process
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Don Thompson Associate 413.221.9981 Broker NextHome Elite Realty
Melissa O'Strander 413.977.8155 Total Mortgage
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When you really educate and explain the process understand what needs to happen during these procedures when you're going through an underwriting with these renovation loans it really makes the process a lot more stress free and smoother And everyone then really kind of gets the grasp of how the process is You simplified it there You need to educate everybody in the process Yes On how it works And I think that that's the key to it is under Number one as an agent we need to understand how it works Which I don't think a lot of agents really understand how it works So I think that by educating so if I'm working with a buyer that is getting a 203K I need to educate that listing agent that it's really once the house closes all that stuff is the buyer's problem It's not the seller's I mean when I work with my clients and they're looking at putting renovation loan offers out I'm making sure that my call is going out to the listing agent with that offer just to explain instead of just seeing a letter and an offer that could be you know you have someone that has never done a renovation loan that could be very daunting to them And you could even just do if a house is being sold as is and the Title V is up to the buyer's discretion to do and you know that SeptuTink's not going to pass you could even do as little as just getting a whole new septic system with your renovation loan too So it could be very that simple Well what's the minimum they have to spend $5,000 Mm-hmm Right Sort of type of loan products Right There are different type of renovation loans Oh okay So I mean it's not hard to spend $5,000 on a house No it's not a lot $5,000's not a lot to spend on a house today
#NextHomeEliteRealty #FHA203k #springfieldmass #springfieldma #hartford #Reaktor #realtorlife #hartfordct #realestatenews #realestateagentgrowth #NextHome
Melissa O'Strander 413.977.8155 Total Mortgage
Check you home value
When you really educate and explain the process understand what needs to happen during these procedures when you're going through an underwriting with these renovation loans it really makes the process a lot more stress free and smoother And everyone then really kind of gets the grasp of how the process is You simplified it there You need to educate everybody in the process Yes On how it works And I think that that's the key to it is under Number one as an agent we need to understand how it works Which I don't think a lot of agents really understand how it works So I think that by educating so if I'm working with a buyer that is getting a 203K I need to educate that listing agent that it's really once the house closes all that stuff is the buyer's problem It's not the seller's I mean when I work with my clients and they're looking at putting renovation loan offers out I'm making sure that my call is going out to the listing agent with that offer just to explain instead of just seeing a letter and an offer that could be you know you have someone that has never done a renovation loan that could be very daunting to them And you could even just do if a house is being sold as is and the Title V is up to the buyer's discretion to do and you know that SeptuTink's not going to pass you could even do as little as just getting a whole new septic system with your renovation loan too So it could be very that simple Well what's the minimum they have to spend $5,000 Mm-hmm Right Sort of type of loan products Right There are different type of renovation loans Oh okay So I mean it's not hard to spend $5,000 on a house No it's not a lot $5,000's not a lot to spend on a house today
#NextHomeEliteRealty #FHA203k #springfieldmass #springfieldma #hartford #Reaktor #realtorlife #hartfordct #realestatenews #realestateagentgrowth #NextHome
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