Found the Home of your dreams? Not quite but close? This is a common dilemma for many buyers, the location is perfect, the size is perfect, the price is perfect, but the home is not. It needs WORK! Well you can get this work done and include it in your new mortgage so that when you move in it is in fact the House of YOUR DREAMS. Here are a few bits of advice to help you get this done;
- Allow a couple of extra days for Financing Approval, you will have to get Quotes for the work and materials and this kind of running around takes some time.
- Be Business Like! Maybe your Brother in law's best friend is a bricklayer but without a Quotation and an Invoice lenders are not going to take your word for it, get paper to prove his skill and his work.
- Keep Your Eyes on the Prize! Don't try and save $25 and risk your new home, do what you say you ae going to do and do it promptly. Everyone will be happier.
- You get the work first and the money after. Lenders are giving you money secured by the value in your new home; if you are improving value they will wait until the work is done and the value is there before they will release funds.
Your Mortgage professional can advise and guide you in the best way to get improvements included in your purchase, for more information look at the Centum website and conatct one of our mortgage professionals.