Mortgage Financing city required repair escrow

Don’t allow minimal property condition challenges stop you from utilizing traditional non rehab 203ks FHA financing.
Often times you will see a property listing stating cash/conventional only with minimal derogatory property conditions.
As a small bank we are able to escrow for city required repairs that the city mandates to be made prior to closing and or FHA required work orders called on an appraisal.
Often times on bank owned REO the seller will not perform or allow work to be done to the home prohibiting a successful closing. If the work orders are minimal I will escrow for the work to be completed after close providing you as the buyer sign an escrow agreement of 1.5x a reputable contractors bid. You have 7 days to finalize the repairs as your funds will remain at our bank until final inspection has cleared.