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  • #67814
    kjenkins79
    Participant

    Do anyone have experience with purchasing a home via homepath. My realtor said the process is slightly different. I am more interested in learning if anyone has purchased this route and been able to have the bank contribute to closing/buy down funds

    #67815
    Nelsont
    Member

    I’ve not purchased through homepath but, I did buy a foreclosure through FHA about 10 years ago. It’s been my experience that foreclosures, short sales and bank owned properties are strictly as is with no negotiating.

    If you do your research you can certainly find a great deal on a property in good shape and get instant equity but, I would plan on paying asking price and taking care of all repairs yourself using the HAND rehab loan.

    Quite often the asking price is close to what is owed on the property so the bank wants all that money.

    #67816
    kjenkins79
    Participant

    Thanks @nelsont. Thats what I was afraid of. Hopefully she will have more information on this property as it did not mention it was a Homepath home. We didnt come across that until she started pulling comps

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