Just Listed: 2805 Fridinger Mill Road, Manchester, MD — $250,000 Fixer-Upper

Just Listed: 2805 Fridinger Mill Road, Manchester, MD — $250,000 Fixer-Upper

Looking for a fixer-upper, investment property, or affordable detached home in Carroll County, Maryland? A new opportunity has hit the market at 2805 Fridinger Mill Road, Manchester, MD 21102. Offered at $250,000, this 3-bedroom, 2-full-bath rancher is an estate-owned reverse mortgage short sale with renovation potential.

Whether you're an investor looking for your next project or a homebuyer willing to put in some work, this property may be worth exploring.

VIEW ALL PROPERTY PHOTOS & DETAILS — $250,000 MANCHESTER RANCHER

A Manchester Rancher With Plenty of Possibilities

Located in the established Whispering Valley community, this detached rancher offers approximately 1,120 square feet of above-grade living space, plus a partially finished basement with additional living space and a second full bathroom.

Property highlights include:

• 3 bedrooms and 2 full bathrooms

• Convenient ranch-style living

• Partially finished basement

• Approximately quarter-acre lot

• Rear deck and backyard

• Off-street parking

• Public water and sewer

The asking price is $250,000.

The property requires significant repairs, updating, and cleanout. It's being sold strictly AS-IS, with no repairs being made by the estate. Utilities are currently disconnected.

For investors, this may be an opportunity to renovate and resell or explore the property's potential as a rental. For homebuyers willing to take on a renovation project, it offers the chance to purchase a detached home and make it their own.

Buyers should carefully evaluate the property's condition, repair expenses, and financing options before submitting an offer.

Why Is This Property a Reverse Mortgage Short Sale?

This is where the situation becomes different from a traditional real estate transaction.

The property is being sold as part of an estate following the homeowner's passing. The home has an FHA-insured reverse mortgage, and the outstanding mortgage balance exceeds the property's estimated current market value.

When a homeowner with a reverse mortgage passes away, the loan generally becomes due, subject to certain protections for eligible surviving spouses. If the home's value is less than the mortgage balance, the estate may be able to sell it through a short sale.

For qualifying FHA-insured reverse mortgages, the mortgage servicer may approve a sale for less than the outstanding loan balance under applicable HUD guidelines.

Importantly, the $250,000 asking price has not been approved by the mortgage servicer. Any contract and final sales terms are subject to third-party approval.

If you've inherited a home with a reverse mortgage, our Reverse Mortgage Help in Maryland resource explains the options available to heirs, executors, and families.

You can also learn more through the Consumer Financial Protection Bureau's guidance on reverse mortgages and heirs.

Can Investors and Traditional Homebuyers Purchase a Short Sale?

Absolutely. Short sales aren't exclusively for cash investors.

Buyers planning to occupy the property may also be able to purchase a short sale, provided they understand the home's condition, have suitable financing, and can accommodate the lender approval process.

For this property, cash offers, conventional financing subject to property-condition requirements, and potentially FHA 203(k) renovation financing will be considered. Traditional FHA and VA financing are not being considered due to the home's current condition.

Buyers should also understand that short sales can take longer than traditional transactions because the mortgage servicer must review and approve the sale.

Capital Short Sale Group is coordinating negotiations. Additional buyer documentation and a buyer-paid short sale negotiation fee apply; details are available in the Bright MLS documents.

For more information about how these transactions work, visit our Maryland Short Sale Solutions resource.

Interested in 2805 Fridinger Mill Road?

If you've been searching for a Manchester, Maryland fixer-upper, an investment property in Carroll County, or a detached home with renovation potential, this property deserves a closer look.

2805 Fridinger Mill Road, Manchester, MD 21102

$250,000 | 3 Bedrooms | 2 Full Bathrooms | Estate Sale | AS-IS

VIEW ALL PHOTOS, PROPERTY DETAILS & SHOWING INFORMATION

For questions about the property or to schedule a showing, contact:

 

About Dan McDevitt

Dan McDevitt is a Baltimore-area Realtor with Cummings & Company Realtors and President of RealVolution Homes Group, licensed in Maryland and Delaware. With more than 20 years of real estate experience, Dan specializes in helping homeowners and families navigate complicated real estate situations brought on by major life events.

His experience includes probate and estate property sales, selling inherited homes, selling a parent's home using a power of attorney (POA), divorce-related property sales, foreclosure and pre-foreclosure situations, short sales, reverse mortgage properties, bankruptcy-related sales, and as-is home sales.

Dan serves Baltimore City, Baltimore County, Harford County, Anne Arundel County, Howard County, and Cecil County, while assisting clients throughout Maryland and Delaware.

Educational information only. This article is not legal, tax, financial, lending, or mortgage servicing advice. FHA HECM rules differ from those for proprietary reverse mortgages, and eligibility, deadlines, and payoff requirements must be confirmed with the servicer and appropriate professionals.

Disclaimer: This article is for general educational purposes and does not constitute legal, financial, tax, lending, or mortgage servicing advice. Reverse mortgage requirements vary by loan type and individual circumstances. Consult your loan servicer, a HUD-approved housing counselor, and a qualified Maryland attorney for guidance about your specific situation.