We’re moving soon, and interested in buying a particular house that was abandoned at the end of construction. It’s very close to being finished, and my husband and I are capable of doing the rest of the work ourselves (we have a lot of experience in renovating houses, and this would be a cinch). The bank is threatening foreclosure on this particular property.
The problem is getting financing. The house is not finished enough to have an occupancy permit. We’re talking to the owner about the possibility of him financing it for a few months so we can finish it and refinance, and also to the bank that’s foreclosing about working something out, but I was also wondering if there are other options out there. Does anyone know of banks or lending institutions that specialize in these sorts of things? We have excellent credit and can afford the house.