Denver Homes Online

Don's 'Bank Owned - Fixer Upper' Qualifies For FHA Financing

The Bank Wanted To Sell 'As-Is'
But Don Convinced Them Otherwise

His previous real estate agent "treated him poorly", according to Don.  From what he described, the agent expected this buyer to purchase ;any old house "quickly", and be happy with it.  So, Don found a different real estate agent.  

When Don came to me, he wanted to start from scratch.  I convinced him that it made sense to expand the neighborhood search to other areas he hadn't considered.  Soon, Don was looking at houses, and the expanded search areas gave him many more options than he had previously considered. 

Don really desired a house that was out of the ordinary, too.  He wanted to find something that was unique, and not like houses that looked like every other house on the block.  One neighborhood really grabbed his attention.  The only problem was, very few of the homes in that neighborhood ever came for sale in his price range, except for the occasional fixer-upper. 

We saw one house that needed a lot of work.  It was 'bank owned' and offered in "as-is" condition.  The bank also said it wouldn't qualify for an FHA loan, and that was another huge problem.  Don needed to qualify for FHA financing, due to his income limits.  

It sure would have been easy to give-up on that house and move on, but Don really liked the potential.  I worked on getting the bank to bend on the "as-is" position, and got them to reconsider doing some repairs.  In exchange for their cooperation, Don offered them a more competitive price for the house. 
Since the bank didn't have any other buyers at the moment, we had their full attention.  The accepted Don's offer, and we took the next big step.

Don hired an inspector who thoroughly evaluated the house from top to bottom.  Next, I convinced the bank to complete all of the repairs, which was even surprising to me.  They fixed plumbing, electrical, heating, and repainted the house, too. Eventually Don's patience paid off, and he was able to close on his unique home just in time for the holidays.  The bank even paid his closing costs, too.  He's a very happy camper these days in his unique house and the neighborhood that he fell in love with at first sight.  Things couldn't have worked out any better.

If you know someone like Don - who could use my help, I’d be happy to visit with him or her.  I always prefer to invest my time with people you know, and who could use my help, rather than with someone I don't know.  Your referrals are always appreciated!

Michael Dagner is an expert in Denver-Area home sales.
Call today, (303) 514-4000, for help with your home sale or purchase.

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