Our development company, Nvision Development Management Services, LLC, is an approved developer with the Osceola County Human Services Department. The program is administered through the Federal Department of Urban Development (HUD). HUD has provided Community Development Block Grant funding (CDBG) funded the Florida Department of Community Affairs (FDCA), who in turn provides funding to Osceola County, who in turn provides funding for developers to purchase distressed properties in areas of greatest needs. Sounds complicated, but we make the process easy! Homes are renovated with a focus on energy efficiency and overall cost of home ownership, to become move in ready. The houses are then sold to income qualified purchasers. Down payment assistance is available from the County.
What it provides for the purchaser:
- down-payment assistance of up to 20% of the price of the house. These funds do not have to be paid back! (restrictions apply)
- Purchase of a home at distressed sale prices, without the hassle of negotiating with the bank on an REO, or waiting for a response on a short sale offer!
- Competition of cash buyers is eliminated! We have already competed with the cash buyers and won! Are houses are sold first come first serve to a qualified buyer. There is no waiting, the offer becomes a contract immediately!
- Bank sales are purchased as is. We have done this, then upgraded the home at the Counties expense!
- A 1 year warranty is provided on the items that the developer repairs during the time of ownership. This is much better than purely buying “AS-IS”.
- The house is sold to the Buyer at the lesser of the appraised value of the house at the completion of the renovation or the total investment into the house by the County. For most of these houses, the appraisal is much less than the cost to purchase and repair, and thus this is at a LOSS to the county.
Sound to good to be true – yes… but this is our tax dollars at work. To find out more information about this program, qualifications, available properties, and what you need to do to apply go to http://www.wesellnsp.com/
If you qualify, this is a once in a lifetime opportunity!