Do you want a Partner that ADDS to your business? If so, and you are a REALTOR in California – We need to talk!
Out of my nearly 2 decades of doing mortgage loans, I have been dedicated to renovation lending since 2008. My first year or two was my “experiment” period on learning how to perfect the process in a way that the loan can close in the same time period as a “traditional” loan. Fortunately for your clients, I was able to accomplish as such my partners can feel confident in accepting or presenting an offer using a renovation loan.
I truly love what I do. I love teaching Buyers Agents how to create a vision with their clients and I love helping Listing Agents sell distressed or outdated properties while still getting a high net for the Seller. I have a passion for marketing properties using renovation loans that can truly transform a property into whatever makes it “perfect” for the interested buyer or just simply market it to meet minimum financing requirements.
When working with a Listing Agent to market a property, I typically provide the following:
- 25-50 co-branded print flyers which I customize with yours and the property information and overnight to you or drop off at the listing – Sample attached below
- A co-branded customized online open house financing flyer that can be sent out to all of the social media sites with multiple scenarios
- Sign riders or yard signs that I keep on hand that can be placed on your listings – Sample attached below
- For REALLY hairy properties that can ONLY go cash or renovation – a Feasibility Inspection can be done prior to LIST date to determine ALL required repairs and associated estimated costs which will be billed to escrow to be covered by the Buyer that utilized renovation financing or by the Seller if an all cash offer is accepted – This allows for appropriate renovation marketing to ensure estimated budgets will cover minimum costs.
When working with a Buyers Agent:
- I will educate and provide a renovation financing pre-approval after a complete credit, income, and asset analysis. This will include comparing FHA 203k & Conventional HomeStyle options if qualified. My Pre-Approval is good for 120 days.
- I will follow up with the Listing Agent / Asset Manager if applicable on any and all offers presented to ensure the financing is clear and they understand the purchase is As-Is with all renovations needed to be included in the loan.
- I will advise the MINIMUM After Improved Value needed on each renovation purchase scenario to ensure the renovation project is supported by comparable sales in the market place. (Conventional loan amount is determined by 100% by the After Improved Value vs. FHA loan is based on 110% of the After Improved Value)
If you like my vision – Let’s Partner! I would love to expand your Buyer and Seller pool!
Call me today to discuss your Renovation Loan Options at 916-235-3989 – I have been helping clients with mortgage loan needs since 1999 and I specialize in FHA 203K & HomeStyle Renovation Loans in California! (Read More about Sheri here)