Zillow Advice: Selling Process - Realtor says "no bank will provide a loan to buy your property" http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ Zillow Advice | Zillow Real Estate We have no idea, because ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ We have no idea, because we don't know the lenders in your area and we don't know the property, and we also don't know if your agent meant "no way at all in the world," or, "not by FHA or conventional financing."<br/><br/>All the best, Thu, 17 Oct 2013 01:59:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-17T01:59:00Z I know of a handful of banks ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ I know of a handful of banks here that will loan on vacant land. they are few and far between and it depends heavily on the buyer's credit as well.<br/><br/>but...it is a possibility so do check on it by calling around.<br/><br/>What is your city/state? Wed, 16 Oct 2013 21:13:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T21:13:00Z banks will not typically ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ banks will not typically make a mortgage loan on such a property but there are buyers that can get other types of bank loans to purchase it.&nbsp; this still essentially means it is a cash deal with a limited pool of buyers.<br/><br/>you might want to call around to local banks yourself and find a lender that does land loans and see if they want to co-advertise with your agent if this is allowed in your state.&nbsp; Generally a locally owned bank is your most likely option on that.&nbsp;&nbsp; call and visit with a lender that has been around a long time if you know of one, chances are if their bank doesn't do it they might know who does and this may help you sell it because you can offer or suggest a resource to a buyer that doesn't have cash but might be able to make that loan deal happen.<br/> Wed, 16 Oct 2013 21:11:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T21:11:00Z When you priced the property ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ <p>When you priced the property for the sale, did you take into consideration the cost of tearing down the propety?<br/>If it is attractively priced a builder may buy it and pay cash.Otherwise I do not think that an FHA203K may work out, because they do have a cap on the cost of repair which may not be sufficient to bring the property up to code.&nbsp; &nbsp;&nbsp;&nbsp;</p> Wed, 16 Oct 2013 20:45:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T20:45:00Z &nbsp;A bank will not loan ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ &nbsp;A bank will not loan on a vacant lot.&nbsp; Since the home is in such disrepair it is unlikely it would even qualify for rehab financing.<br/> Wed, 16 Oct 2013 20:18:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T20:18:00Z Your realtor is correct. ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ Your realtor is correct. Bank will not finance the property. Does it have any city or county liens on it?&nbsp; Wed, 16 Oct 2013 18:50:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T18:50:00Z If the home has the basic ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ <p>If the home has the basic essentials, roof, walls, water, sewer, heating, electricity, and its not a seasonal camp a lender will allow you to get a loan on it. The loan will have to be a FHA203k which allows you to take out a % of money above the asking price to do repairs.</p> Wed, 16 Oct 2013 18:46:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T18:46:00Z Your agent is right. It's ... http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ Your agent is right. It's hard to put a value on the intangible. And, most lenders have a minimum amount they would loan on. And with the value being so low, I don't think any bank would want to loan on it.&nbsp; Wed, 16 Oct 2013 18:44:00 GMT http://www.zillow.com/advice-thread/Realtor-says-no-bank-will-provide-a-loan-to-buy-your-property/515537/ 2013-10-16T18:44:00Z