Home Buying in San Pablo>Question Details

Kevin Tran, Home Buyer in San Pablo, CA

First time home buyer

Asked by Kevin Tran, San Pablo, CA Wed Apr 9, 2014

I have been preapproved for a FHA loan amount of $260K. I am looking for a single family home in the san pablo/richmond area. are their any good area that has properties in my price range?

when making an offer on a Property should i Bid atleast 20K more than the asking price? or bid the asking the price the sellers is asking for?

i was advised that since im going with a FHA loan when i make an offer it has to be a big offer so that way i can stand a chance with other offers such as cash or conv. any info would help, thanks!

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2
Cindy Davis’ answer
Congrats on getting approved. Yes, FHA buyers so have a hard time competing in this strong seller's market. My recommendation would be to go after properties that have been sitting on the market a little while - perhaps less pleasing cosmetically...but less competition.

I got an fha buyer a deal last year just by calling agents with homes sitting on the market...and asking if the seller would be open to an fha offer....saved a lot of offer writing.

As far as price, each situation is different...use your buyer's agent as a guide...
0 votes Thank Flag Link Wed Apr 9, 2014
I would be more than happy to help you and advise you. I am guessing that you do not have a real estate agent. Just send me an email if you have any further questions.

Alex Greer
Loan Officer
NMLS #1056079

http://www.TheMortgageOutlet.com
408-352-5147
AGreer@TheMortgageOutlet.com
0 votes Thank Flag Link Wed Apr 9, 2014
every answer you give Alex is a solicitation
Flag Wed Apr 9, 2014
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