FHA Approved-Finding FHA approved condos & FHA approved homes Los Angeles
What a great Loan program FHA is, you can get into a home with as little as 3.5% down and have the seller pay your closing cost!
But of course, FHA is one of the most challenging loans when it comes to actually finding FHA Approved homes & FHA approved condos and then getting the seller to accept your offer.
Believe me I know the challenges of finding
properties that are FHA approved. Ninety percent of my current buyers are
utilizing FHA loans. But I will tell you this; they are typically in escrow
within 4 weeks, mostly within 2 weeks! The bottom line is, DON'T GIVE UP on
finding FHA approved homes and condos.
â€¢ Finding homes that
are FHA approved (not all are)
â€¢ Finding Sellers that will accept your FHA offer (many are unfamiliar and don't have savvy agents guiding them)
â€¢ Too many search sources (paralysis by analysis)
â€¢ Buyers agents not skilled or savvy with findingÂ FHA approved properties (or just lazy)
â€¢ Lack of focus on what you want!
â€¢ Have a clear Vision of what you want! Of
course it must fit within your budget and be obtainable but you and your agent
must be very clear of what will make you happy!
â€¢ In truth, finding out if the Home, Condo or Town Home is FHA approvedÂ is ultimately your agents job.
â€¢ Use ONE search tool that is direct access to
the local MLS. I give my buyers access to my MLS account so they are seeing what
I am seeing that is the most 100% accurate and updated. I give them this MLS search.
â€¢ The only solution to a "lazy or un-savvy" agent is to either let them know your concerns and get them to make a shift in their business practice towards you or find someone who understands the "ins and outs" of findind FHA approved properties, enjoys the challenge and NEVER GIVES UP!
â€¢ The fastest and most efficient way to identify sellers that are open to FHA offers is to be sure your agent is "Cherry Picking" listings on a daily basis and sending them to you as soon as they hit the market.
â€¢ If you've already been searching or have had your offers rejected several times, it's time for a new approach. It's time to "Zig while others Zag"! Sounds silly but it's true and it has worked beautifully for my FHA buyers.