Has anywhere here done a rehab loan? Was it difficult to get approved Would you do it again? Why or why not? (WA)

I’m looking at buying my first home soon.

There is a house sitting on 2.26 acres of land that was recently updated and looks great. It was going for over 600k.

Recently it was vandalized: kitchen cabinets and appliances stolen, water heater stolen and pipe cut, so water pouring out over night. Water damaged floors and drywall. Wires cut at the electric panel etc…

The price dropped by like 160k.

This is a LOT to deal with as a first time home buyer but its close to family and friends and has so much room to work with.

Should I just steer clear from this or could this be a good opportunity for me to get a fixer upper and a good deal as well?

submitted by /u/Thementalistt
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I’m looking at buying my first home soon. There is a house sitting on 2.26 acres of land that was recently updated and looks great. It was going for over 600k. Recently it was vandalized: kitchen cabinets and appliances stolen, water heater stolen and pipe cut, so water pouring out over night. Water damaged floors and drywall. Wires cut at the electric panel etc… The price dropped by like 160k. This is a LOT to deal with as a first time home buyer but its close to family and friends and has so much room to work with. Should I just steer clear from this or could this be a good opportunity for me to get a fixer upper and a good deal as well? submitted by /u/Thementalistt [link] [comments]

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