When our Community Buyers purchase homes through our portal, REOMatch, they must always take into account the current condition of a home. Some homes have been vacant for months or years, others have not been well-maintained by the previous mortgagor. To prepare a home for a new owner, a Buyer may spend $20,000 - $40,000 or more in repairs and rehabilitation.
It is important these affordable homes are move-in ready so the new owners can begin their dream of homeownership without having to worry about making immediate home repairs. Below are a few examples of the extensive, fantastic work that our Community Buyers perform.
Hamilton, OH | Community Buyer: Pro Foundation
Pro Foundation completed more than $45,000 in repairs and rehabilitation on this home, which includes mold remediation, replacing the roof, windows, exterior doors, garage door, furnace, AC, and hot water heater. They refinished the hardwood floors, repaired the back patio, freshly painted the interior and exterior, patched and replaced drywall, updated the bathroom and kitchen, and replaced the kitchen appliances. In addition they sealed the basement, renovated the landscaping, repaired minor electric and plumbing issues, and added new light fixtures.
Lake Worth, FL | Community Buyer: Guardian American Properties
More than $40,000 in repairs and rehabilitation were completed by Guardian American Properties to ensure this home was move-in ready. They replaced kitchen cabinets and bathroom vanities, added new tile, carpet and/or wood flooring, and included a new appliance packge. They also added fresh paint, drywall, stucco, and completed roof repairs. The driveway received a new coat of blacktop, windows and screens were repaired, closet shelving was updated, plus baseboards and moldings and interior and exterior doors were repaired/replaced.
Westland MI | Southwest Housing Solutions Corp.
Southwest Housing Solutions finished more than $30,000 in repairs and rehabilitation to this Michigan home. On the exterior, they renovated the landscape, cleaned up the yard, and performed misc. exterior repairs - all items which improved the home and benefit the overall neighborhood. They also added a new entry door, made drywall and carpentry repairs, placed new ceramic tile, cabinets and granite tops in the kitchen, replaced the carpeting throughout the home, painted the basement, walls and ceilings, and made important electrical repairs. In addition, the bathroom was refreshed with new ceramic tile, the tub/shower was freshly glazed, and all drains were cleaned.
Marietta, GA | D&E Group Georgia
This 1,200 square ft. condo received more than $28,000 in repairs and rehabilitation, including fresh interior paint, drywall repairs, new window blinds, roof and gutter repairs, kitchen updates including new granite countertops, a new appliance package, refinished hardwood floors and new carpeting, new ceiling fans and foundation repairs.
Hogar Hispano, Inc. purchased this Maryland single-family home and transformed it with more than $21,000 in rehabilitation to a family-ready home for a buyer who was at 67% of AMI. The family wanted to have their own place with a yard to call home for their children.