Home Buying in 33315>Question Details

Jerry Willia…, Home Buyer in Fort Lauderdale, FL

How can I find a FHA approved single family home in zip 33315 for 100K?

Asked by Jerry Williams, Fort Lauderdale, FL Sun Dec 8, 2013

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7
Go to FHA website and find good FHA lenders first. Almost any house will qualify. You can also go to HUD.gov and look for homes there. Get pre-approved first so you'll know what to bid... and comp the neighborhood. Don't assume HUD homes are good prices. I've seen them listed way over the market, fall off the listing for whatever reason, and pop up again at tens of thousands less. Remember, it's what you are willing to pay... listing figures drive up prices so realtors can make more money. Buyers offer lower prices so they can keep some $$$ in their pocket and keep prices realistic. Remember that bubble? Don't let anyone get you emotionally attached to a deal. Always be prepared to walk.
0 votes Thank Flag Link Tue Dec 10, 2013
Check Trulia, Zillow, realtor.com. Do your own digging. Remember, the listing price is only the asking price. In true economics, something is only worth what someone is willing to pay. Don't get brainwashed by realtors. Offer what you think it's worth. Comps are easy. Go to Broward County Appraiser Office website and check area there and by foot... talk to neighbors. Your lender can be your best friend. No buyers agent needed if you have a little time to study. It's really easy but realtors use smoke & mirrors to make it seem difficult.
0 votes Thank Flag Link Tue Dec 10, 2013
Any home can close under FHA. If the property can't pass inspection, you can easily transition and finance the repairs using FHA 203K...a program I have specialized in for 21 years. It can be used for needed or cosmetic repairs, the home closes as-is (the roof could literally be caving in), 3.5% down of total cost (price + repairs), and all the work is completed after closing.

The first step would be to get a pre-approval for a loan amount and then you can split it up any way you see fit (ex. $50K house with $50K of repairs, or $75K house with $25K in repairs). Minimum loan amount is $60K.

Please feel free to give me a call if you would like any assistance. My website has more information on the program if you would like to look into it http://www.titanhl.com. It's a great program for homes that are priced low because they are a little beat up. We walk folks into equity everyday!

Best of luck to you,

Andy Wood
727-410-9663
awood@titanhl.com
http://www.titanhl.com
0 votes Thank Flag Link Tue Dec 10, 2013
Good morning Jerry, at this point there are 2 homes available under $100,000. Take a look at the link I have provided:

http://www.fortlauderdalerealestatedeals.com/listings/areas/…

Sometimes it is the seller who doesn't want accept offers with FHA financing since sellers don't want to deal with the FHA requirements. Be prepared for a longer search since it can take a while until you find what you are looking for.

Annett T. Block
(954) 543-1794
0 votes Thank Flag Link Mon Dec 9, 2013
Neither of these two is likely to qualify for FHA.
Flag Mon Dec 9, 2013
You need at least $150,000.00
0 votes Thank Flag Link Sun Dec 8, 2013
How do you find something that does not exist? Find a realtor who might give you some guidance, suggestions, or point you in the right direction.
0 votes Thank Flag Link Sun Dec 8, 2013
For starters have a look at my website please then give me a call if you have any questions 954-383-0090
http://www.buysellhomesinbroward.com/

Regards
0 votes Thank Flag Link Sun Dec 8, 2013
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