Why Buyers Use Them
A home may be dated, damaged, missing functional components, or in a perfect location with the wrong interior.
Rather than buy the house, find cash, and remodel later, the loan may incorporate eligible improvements into the financing.
It Is More Complicated
Expect additional requirements involving a contractor, scope of work, bids, appraisal, draw process, inspections and completion timeline.
Not Every Improvement Is Eligible
Program rules determine permitted work.
Las Vegas Opportunity
Buyers often compete heavily for turnkey homes.
A property with an old kitchen, worn flooring or dated bathrooms may attract fewer buyers.
If financing works, buying ugly can sometimes be strategically smarter than competing for perfect.
Lisa's Role
Lisa can help identify properties where purchase price plus renovation may make sense relative to finished comparable homes.
A home that needs work does not necessarily need to be sold only to cash investors. Ask Lisa whether renovation financing could expand the buyer pool.
