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By Stephen Munson | Agent in Pasadena, CA

FHA Approved-Finding FHA approved condos & FHA approved homes LA

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.

So what's the challenge with FHA?

• Finding homes that are FHA approved (not all are)
• Finding Sellers that will accept your FHA offer (many are unfamiliar and don't have savvy agents guiding them)
• Too many search sources (paralysis by analysis)
• Buyers agents not skilled or savvy with finding  FHA approved properties (or just lazy)
• Lack of focus on what you want!

What the solutions in finding FHA approved homes and condos?

• 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!
• In truth, finding out if the Home, Condo or Town Home is FHA approved  is ultimately your agents job.

• 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.
• 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!
• 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.
• 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.


Copyright © 2011 By Stephen Munson-Munson Realty Southern California Real Estate|FHA Approved-Finding FHA approved condos & FHA approved homes LA*FHA approved, Fha approved condos,FHA approved homes*


By Jack Gillis, CRS, M.B.A., J.D.,  Sat Aug 27 2011, 07:55
Interesting; thanks for the post.
By Nestor Gasset, Katerina Gasset,  Mon Sep 19 2011, 23:28
Hi Stephen. Its true that FHA is one of the most challenging loans to get... Which is why it is vital that buyers don't just call any agent but an expert in the area or experienced Pasadena Short Sale Agents like Stephen. Thanks for sharing this.
By Bob Hertzog,  Tue Sep 20 2011, 00:03
This is a very informative post Stephen. Finding a home that is FHA approved is not easy but consulting an expert like Stephen, who is also an experienced Pasadena Short Sale Agents, will certainly make the process less complicated.

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