Loan amount
$138,000
Loan type
Purchase
{Fix&Flip}
After Repair Value
$205,000
{PP:$115,000}
ARV
67%
{ARV}
Property type
Single Family
Borrower Details
Credit score
580
Deal experience
None
This loan scenario was submitted by a Broker
No
Property Details
City
Tazewell
State
Tennessee
Loan Details
Purchase price
$115,000
Down payment
$1,000
Cost of improvements
$24,000
Estimated property value after repairs
$205,000
Additional Loan Information
I’ve been looking into this property and after a few hours of assessing this home I believe with the correct renovation this home could sell for $200-205K easily as nearby homes are selling for $235K. Home is a nice brick house with clean and nice interior just outdated but very well taken care of.
Lot size: 14,810 sqft.
Floor size: 1,036 sqft.
If loan is approved I will submit offer to cust. (going to shoot for $110K but max $115K), if accepted then get a few bids from local contractors (should be cheaper than what’s asked for as that is the max amount) and then finish everything up and hopefully have home listed within 3 months with a completion time of 5 months from purchased to sold. Current asking price is $139,900.
Lot size: 14,810 sqft.
Floor size: 1,036 sqft.
If loan is approved I will submit offer to cust. (going to shoot for $110K but max $115K), if accepted then get a few bids from local contractors (should be cheaper than what’s asked for as that is the max amount) and then finish everything up and hopefully have home listed within 3 months with a completion time of 5 months from purchased to sold. Current asking price is $139,900.
Status
Closed
Created
July 6, 2024 - 1:37am
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