The Caribell Group purchased this Ocwen home through the First Look program, and spent more than $76,000 on renovations, including adding a second bathroom to make it more desirable for a family.
The new owner-occupant is under 80% AMI, and had been renting the house next door. Unfortunately, he was on disability and had been unable to qualify for a loan. This Community Buyer sold him the home for below market value and also gave him a private loan to help him achieve his goal of homeownership. They will continue to work with him over the next few years to help him eventually move to a conventional loan. Also, when the new owner moved out of his rental home, his son and his family moved in, so now the family is reunited in one neighborhood.
Renovations to the home include a new roof, impact-resistant windows, fresh paint inside and out, new flooring, new landscaping, two fully renovated bathrooms, a fully renovated kitchen with new appliances, cabinets and countertops, and a new HVAC and tankless water heater. The home also features a separate guest or in-law quarters.