Description
This property has been appraised at the lenders request, with the FHA appraisal valuing it at $700,000. The bank is firm on this price, as the FHA reverse mortgage follows stricter guidelines than typical short sales. The recent appraisal is the basis for the price adjustment.Located in the highly sought-after Howard University area, this vacant property offers substantial space, making it ideal for a complete renovation project. However, due to its current condition, it does not qualify for standard financing and is best suited for acquisition and construction loans.This is both a short sale and probate transaction, and the property is being sold strictly "AS IS." All offers must include proof of funds or a pre-approval letter from a reliable lender. Please note that the seller will not accommodate extended feasibility or inspection periods, and earnest money deposits must be submitted within 48 hours of contract ratification.
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3BEDS
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0.04ACRES
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2BATHS
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01/2 BATHS
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2,021SQFT
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$346$/SQFT
Description
This property has been appraised at the lenders request, with the FHA appraisal valuing it at $700,000. The bank is firm on this price, as the FHA reverse mortgage follows stricter guidelines than typical short sales. The recent appraisal is the basis for the price adjustment.Located in the highly sought-after Howard University area, this vacant property offers substantial space, making it ideal for a complete renovation project. However, due to its current condition, it does not qualify for standard financing and is best suited for acquisition and construction loans.This is both a short sale and probate transaction, and the property is being sold strictly "AS IS." All offers must include proof of funds or a pre-approval letter from a reliable lender. Please note that the seller will not accommodate extended feasibility or inspection periods, and earnest money deposits must be submitted within 48 hours of contract ratification.
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©2024 Bright MLS, All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale may no longer be available because they are for instance, under contract, sold, or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Crews Real Estate | EXP Realty. Some real estate firms do not participate in IDX and their listings do not appear on this website. Some properties listed with participating firms do not appear on this website at the request of the seller. Data last updated: 2024-11-07T06:54:35.153.