Wilmington, NC Real Estate Blog

As I was sitting here, I started thinking about the many clients who would buy the

home I showed them, except that it was missing something or needing updates. So often,

I have heard, "it's missing a bedroom or bath that we want,"  "the kitchen needs

remodeling and I don't have the money to do that," or "it's perfect, but I really want

a pool." 

While the home may not be the ideal that can be changed by considering the "renovation

loan."   The steps are simple.  First we determine if the program will work for a

particular home and in most cases it probably will and we get you preapproved as a

Priority Buyer with Wells Fargo.   Next, we can execute an offer to purchase

containing the appropriate renovation verbiage.  The inspection process then begins

and you select a contractor who will complete the contractor's packet.  The scope of

the work is reviewed and accepted by all parties. The appraiser will inspect the

property and determine the "after improved value."  Once final loan approval is issued

and you obtain homeowner's insurance, we move to closing. Renovation must begin within

30 days of closing and must be completed within a designated time fram.  As the work

is completed, inspections are made by the lender's inspector and funds are disbursed

for said renovations.  

Our lenders have a very nice packet to guide you through the process....so don't let

the work "IDEAL" get in  your way when looking for your home.  You have the power to

make it IDEAL.

Call us today to start looking for your home and we can partner you up with

"Wilmington's #1 Experts" and our partners at Wells Fargo.

Day 128    and a roller coaster weekend ahead.............Head on down to Carolina Beach tonight  December 2 at 7:30pm for the Island of Lights  Christmas parade. 

 There will be floats, bands and of course Santa Claus.   Free. 

Line up from Atlanta Avenue down Lake Park Boulevard to the Federal Point Plaza.   More information at www.islandoflights.org.    See you there!!!!!!