PLEASE READ ALL INFORMATION THOROUGHLY! We receive many inquiries about our homes, and most questions can be answered with the information below. If you LOVE this home, meet the listed financial requirements, and have more questions, feel free to contact us.
What is the purpose of a contract sale? A contract sale works the same as a traditional bank loan, except that our company, Buy Bedford Homes extends the loan financing, not a bank. We have a more lenient loan approval process than a traditional bank loan application. A contract sale is a great opportunity for a person or family that is not quite in a position to be able to obtain bank financing, to be able to still own their own home.
All of our homes come with a 30 day warranty for mechanical systems-- HVAC, plumbing, and electrical.
2003 I Street is a fully remodeled, 3 bedroom, 1.5 bath home on a larger city lot in Bedford. The home has a very good roof, and is in overall very good condition on the outside. The last thing to happen is 3 windows are being replaced. The home has off-street parking, a large back yard, and a small utility shed in back.
The inside of the house is where the magic is.. There are 2 full size bedrooms, a 3rd smaller bedroom, kitchen, back entry way area, large living room, large family room, a large master bathroom, and a good size half bath with laundry area.
There is more new stuff in the house than we will list here but the main items are: BRAND new HVAC, water heater, plumbing, kitchen was gutted and totally replaced, master bathroom was gutted and totally replaced except the vanity which is in good shape, half bath is all new, all new flooring, paint, switches and plugs.
There is nothing like this anywhere for sale on contract, period. Financial details are:
--Selling price: $95,000
--Down Payment required: $7,000
--Loan details: $88,000 principal balance, financed at 10%, 26 year term, $792.86/monthly payment, PLUS property taxes, PLUS home owner's insurance.
--Property taxes are currently $82/month.
--You get your own quote for home owner's insurance.
--TOTAL PAYMENT will be right around $1,000/month for mortgage, taxes, and insurance
Basic financial requirements:
--All applicants should have a stable and verifiable work record. This is by far the most important factor
--Payments cannot be made on the down payment. To take possession of the home, an approved applicant will need the down payment, first month's mortgage and property taxes, and home owner's insurance put into place
If you LOVE our home, and have more questions, feel free to email us. We normally respond within a business day or sooner, not including weekends. buybedfordhomes@gmail.com