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Home for sale with some damage, bank is looking for cash offer. Can I take out a loan for this?

Found a house that is being sold "as is".  I contacted the realator and they said it's b eing sold as is, bank is looking for cash offers.  She then asked what type of loan I am approved for.  Should I be getting a pre-approval to buy in cash?
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June 18 - US
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Answers (2)

By "CASH" that means you have a whole pile of real money already in the bank to pay for the entire purchase and the closing costs.   Fom here it sounds like the house is in rough shape and like someone said it has to be livable.  Also most lenders have a minimum amount they will loan for any house under normal circumstances.
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June 18
If the home is not habitable you can't get a loan.  Some sellers will allow for a 203k FHA Rehab loan but they are complicated and take time.

Ask of the seller will consider that type of loan otherwise unless you have the cash, it's unlikely you will be able to purchase this home.
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June 18
 
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