In a previous blog post I talked about the 4 Benefits of the FHA 203k for Local Communities. Here in this post I would like to shed some light on why it is beneficial to realtors to know be educated on this renovation program.
- Sell more homes – The first reason is simple. Adding additional financing options for prospective home buyers will lead to more homes purchased and increased income for realtors.
- Sell any residential property in any condition to any owner occupant – Many times deals fall apart because the property is not a dream property or is not in the right condition for purchase. With the FHA 203k that is no longer a problem. Upgrades, fixes, and renovations can be made to create dream homes!
- Increase real estate values – By utilizing the FHA 203k to raise property values, the entire neighborhood’s prices will rise as well leading to future higher commissions.
- Help clients gain equity – What better reason to utilize this program but to assist your clients with gaining instant equity in their home
- Help buyers who previously could not buy homes – For those people looking for homes but are having trouble qualifying or finding a home this loan can solve both of their problems
- List more properties previously thought of as “unsellable” due to property condition – The FHA 203k can bring properties back to life. It is there to refurbish houses and sell the unsellable.
- Spend less time – Everyone wants to be more efficient with their time. With the 203k, you would need to get the purchase contract signed and then just let your 203k team take care of the rest.
If you know of any other reason the FHA 203k is great for realtors, you can add to the conversation by commenting below!