If i buy house that is on the verge of being condemned what are the options?

what kind of improvement loan options are thereIf i buy house that is on the verge of being condemned what are the options?
why would you buy a house on the verge of being condemned?If i buy house that is on the verge of being condemned what are the options?
I seriously doubt you can even get a loan on a property ready for condemnation. I would steer clear you might have all kinds of title issues too.
i have been wrong before.........





but......





there is a huge difference between condemned and needing


lots of work. Condemn.......means structurally the


house is ready to fall down.........it is a dead house!





if you want a fix up house, there are lots of them





maybe.,,,,,,you should see the movie, THE MONEY PIT


with Tom Hanks





[in 95% of all circumstances today.......you can buy


for 1/2 to 1/3rd of what you can build for.
VERY difficult if not impossible to buy a home on verge of being condemned, unless a cash deal. Lenders will shy away from lending on such property.
The home improvement loan provides many benefits. For example, when one takes a home improvement loan to upgrade a home and to get it in the shape, one can take a tax deduction. Additionally, renovation will increase not only the quality but also the value of the house allowing the home improvement loan to compensate for itself.
I highly doubt that a loan officer would even approve of a loan in a situation like this. If its nearly condemned, unless you have an incredible track record of house-flipping and restoration, and good credit, it is unlikely that they will give you any options at all. especially with the crappy economy.