This property has been appraised at the lender’s request, with the FHA appraisal valuing it at $700,000. The bank is firm on this price, as the FHA reverse mortgage follows stricter guidelines than typical short sales. The recent appraisal is the basis for the price adjustment. Located in the highly sought-after Howard University area, this vacant property offers substantial space, making it ideal for a complete renovation project. However, due to its current condition, it does not qualify for standard financing and is best suited for acquisition and construction loans. This is both a short sale and probate transaction, and the property is being sold strictly "AS IS." All offers must include proof of funds or a pre-approval letter from a reliable lender. Please note that the seller will not accommodate extended feasibility or inspection periods, and earnest money deposits must be submitted within 48 hours of contract ratification.