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How do I purchase an house "under construction" (construction has stopped) without 20% down?

My wife and I are looking to purchase a home where a builder has run out of money and cannot finish the house.  We are hoping to purchase the house and also have money to finish the construction.  The house is about 80% complete.  We do not have 20% down.  
  • February 22 2012 - New Canaan
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Answers (2)

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Thanks,
Candace
Zillow Customer Support
  • February 23 2012
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Profile picture for shapiroamg
Talk to a local bank that might have some sort of renovation program. Other that that speak to an attorney. If the builder ran out of money, there may be a bad title associatied with the property.
  • February 22 2012
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