Re/Max Advantage Plus Shakopee Homes For Sale

1935 Boulder Point, Shakopee, MN MLS #4066531

I  Love this area! Single level townhome for $175,000 that is also a handicap accessible one level townhome. Close to walking paths in a great community. 2 bedrooms and 2 baths, a 12×12 sun roomthree sided gas fireplace and more. Association dues are low! Click the address for more information and photos.

1053 Ramsey Street S, Shakopee, MN MLS#4065953

A well-maintained split-entry home, with one previous owner. Located in a quiet neighborhood, it has a great backyard and is close to shopping, schools, and parks. 3 bedrooms and 1 bath, with potential to finish out the remainder of lower level. Listed at $174,900.

523 Barrington Drive E, Shakopee, MN MLS #4066121

Listed by This custom rambler has 4,000+ square feet, a sunroom, vaulted ceilings, and granite counters. Situated on just over an acre sized lot
with views of a private pond and patio. There are 4 bedrooms and 4 bathrooms and a 3-car garage. Listed at $475,000, this home has a great layout with a lower level theater room and bar. Click the address for more information and photos.

1492 Hartley Boulevard S, Shakopee, MN MLS #4065015

Shakopee two-story in Southbridge development with lots of space for $329,850. The  Southbridge Neighborhood is very community oriented and holds many functions throughout the years includeing an easter egg hunt in the spring and neighborhood nights out. This Shakopee home is move in ready with 5 bedrooms and 4 bathrooms. The main level has a custom office and a large kitchen and don’t forget the deck leading to spacious backyard.

825 4thAvenue West, Shakopee, MN MLS #4064014

Great Shakopee foreclosure price of only $60,000!  This rambler has 3 bedrooms, 1 bathroom and a walk out lower level. It also
has a large eat-in kitchen and a large lower level family room. At this price will sell fast. Great opportunity for an FHA 203k rehab loan program.

1353 Wood Duck Trail, Shakopee, MN MLS # 4062248

I have shown this home multiple time. Great house and with some new floor could show like new. This home is situated on a beautiful nearly one acre lot with mature trees and a huge yard. 3 bedrooms on one level and 3 bathrooms while being listed at only $264,850. The lower level is impressive with an amusement room, entertaining spaces, custom built in bar, and game room! Youi coudl easily put in a fouth bedroom in the lower level. Within in walking distance to the lake and Stonebrooke golf course.

9042 Horizon Drive,Shakopee, MN MLS #4062821

This Shakopee home is stunning with 3,400+ square feet. Come see all the great features of this 4 bedroom, 4 bathroom home. Custom cabinets,
maple floors, Silestone counters, 2 home theater systems, all for $537,900.

If you would like to set up a showing on any of these Shakopee homes for sale email me at TomScott@Remax.net or call me at 612-384-2178

You can also search all Shakopee homes for sale on our website.

Shakopee Foreclosures? Use the FHA 203k loan program

Like many other MN Homes, Shakopee foreclosures are just as prevelant. To  purchase some of those detressed foreclosure properties you need a LOT of $$$$ to repair the MN homes to bring them up to par, because the banks won’t lend the money to buy the house until the repairs are complete. I recenlty had a client use a great program for Shakopee foreclosures. The program is called the FHA 203k loan program and I used Wells Fargo in Shakopee to do the MN FHA 203k loan program we just closed on. There are a few other companies that do the MN FHA 203k loan program, but not all loan officers do, so make sure to check if you are looking in a price range that may need repairs.

More MN FHA 203k Loan Program Information

  •  The downpayment requirement for an owner-occupant (or a nonprofit organization or government agency) is only 3.5% of the purchase price and repair costs of the property.

The MN FHA 203k loan includes the following steps:
A potential homebuyer locates a fixer-upper and executes a sales contract after doing a feasibility analysis of the property with their real estate professional. The contract should state that the buyer is seeking a 203(k) loan and that the contract is contingent on loan approval based on additional required repairs by the FHA or the lender.

Find an approved MN FHA 203k loan officer

-Submit repair bids from A LICENSED CONTRACTOR, if you are not licensed, you CAN NOT do the work.

The appraisal is performed to determine the value of the property after all repairs are completed, they don’t need to be completed prior to closing, but they do the appraisal as if those repairs were completed.

If the borrower is approved through the loan officers underwriting , the loan closes for an amount that will cover the purchase or refinance cost of the property, the remodeling costs and the allowable closing costs. The amount of the loan will also include a reserve of 10% to 20% of the total remodeling costs and is used to cover any extra work not included in the original proposal.

At closing, the seller of the property is paid off and the remaining funds are put in an escrow account to pay for the repairs and improvements during the rehabilitation period.

The remodeling can begin after closing.

Escrowed funds with the title company on MN homes are released to the contractor during construction through a series of draw requests for completed work. To ensure completion of the job, 10% of each draw is held back; this money is paid after the lender determines their will be no liens on the property.

If you would like more information about the FHA 203k loan program, a good loan officer familiar with the process or Shakopee foreclosure list make sure to contact me.

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