When & How Is The FTHB Assistance Available?
The 4th in the series of the First-Time Homebuyers Program administered by the Neighborhood Resources Division - The City of Wichita Falls, Texas is information on what to do if your home needs repairs and how the program is available to you. If you are not familiar with the previous three series, please take a moment to read these to find out how you can benefit from this great opportunity.
What If The Home Needs Repairs Before It Passes Inspection?
After the inspection of the property, a report will be sent ot your REALTOR(R) and lender that describes the needed repairs. The seller usually performs this work up to the repair limits in the sales contract. However in some cases, the buy and seller may negotiate the completion of the required repairs. When repairs are complete, the house is re-inspected. Also the FTHB Program may possibly provide assistance to the buyer after the closing for a major item (e.g roof, electrical) now working properly but in the judgement of the City's inspector, is approaching the end of its useful life and needs replacement. These repairs are made after the closing.
When And How Is The FTHB Assistance Made Available To Me?
After you have met all program requirements and the home passes inspection, a check for $7,500 is issued to your title company for the day of closing.
After Closing, Then What?
After closing, your occupancy of the home may be periodically monitored by the Neighborhood Resources Division during the period of the lien.
Remember, you can contact me for more information on this great program and I can assist you in finding the home that meets your goals. I can even set you up to receive daily emails alerts on homes as the become available within your price range.
Take advantage of this program now and let's start building equity for you!
