Home Buying in Hollywood>Question Details

Elaine, Home Buyer in Hollywood, FL

where can i find listing for fha houses and condos for sale in hollywood fl?

Asked by Elaine, Hollywood, FL Thu Mar 11, 2010

Help the community by answering this question:

Answers

4
Hi Elaine,

Unfortunately there's no one place to go to see only FHA-approved properties.

When it comes to condos, a previous answer mentioned that you need to contact the association for that building. A realtor who is familiar with a given area will also be able to point you in the right direction.

As for single family homes, you can typically use an FHA loan when the property is in good shape. As a condition of the sale, the FHA requires an inspection to verify that the property is move-in ready and safe. This means the plumbing and electrical systems must be in good working order, and the roof must be okay as well. Any home with issues in these areas will not qualify for a regular FHA loan.

Another reply did mention FHA 203k loans. They are definitely a great option if you are interested in a home that needs repairs. These loans allow you to take out a minimum of $5,000 above the purchase price of the home in order to make repairs and do upgrades. I won't get into all the details here, but if you want to know more, feel free to contact me.

So in my opinion your best bet is to find a realtor who specializes in the area where you want to buy, and ask them to send you listings only for FHA-approved properties that meet your other criteria as well (size, price range, etc.). I can do this for you if you'd like - I live and work in Hollywood. Just let me know.

Regards,
Diane Loveridge
dianeloveridge@gmail.com
786-210-3449
0 votes Thank Flag Link Sat Mar 13, 2010
Hi Elaine,

If your question is how do you verify if a condo is approved to buy with FHA financing, you can lookup the complex on Hud's website:

https://entp.hud.gov/idapp/html/condlook.cfm

Single family homes automatically qualify for FHA financing but the house must be in a minimally good condition, i.e. roof has to have 2 years life left on it, a/c and all systems must be in working condition. Houses that need work can still be bought with an FHA 3.5% down but it will need to be a 203KS or 203K. The repairs (ie. new roof) would be added on to your mortgage and the roofer would do the work after you take ownership and get paid by the lender.

If you are asking for listings for FHA foreclosures, you can find the HUD owned foreclosures here:

http://www.nhmsi.com/

You must have a Realtor submit your bid on HUD homes so find a local Realtor to assist you. That Realtor must also have a HUD key to let you inside the properties so when interviewing Realtors if they don't know what you're talking about then move on to the next Realtor.

Good luck!
0 votes Thank Flag Link Fri Mar 12, 2010
Pretty much all single family homes are FHA approved - for Condos and Townhouses you will need to verify with the condo association or HOA. . . Your Realtor can help you with this. There is really no way to 'tell' if a condo association or HOA is FHA approved unless the listing agent mentions this in the property description. There used to be a website that listed all the FHA approved condos, but this is out of date. In addition, many lenders are requiring a full review/FHA 'spot approval' even if the complex was FHA approved in the past. . . Also, if you are thinking about a townhouse or villa, check the address against the Broward County tax records and it is classified as "single family", it is most likely FHA approved. . . you can do that here:
http://www.bcpa.net
Hope this helps! Feel free to email or call if you have any other questions about FHA properties =)

Diana Tonova
Realtor Associate
Express Florida Realty, Inc.

diana@expressfloridarealty.com
http://www.expressfloridarealty.com
http://www.southfloridacoastalhomes.com
0 votes Thank Flag Link Thu Mar 11, 2010
Hi Elaine,
You can search for property on many real estate web-sites, the problem is that unless it is linked to the multiple listing service (called IDX linked), the listings will be a bit outdated. The searches on Trulia are a good way to get a general idea of the market but the system is behind by about 30 days.

My companies web-site is a great resource, it is below. Giving a realtor you exact criteria is a great way to get the listings that match your exact needs becasue we have many ways to narrow the criteria from our multiple listing system. I suggest you speak to several realtors to see who will best represent you.

Feel free to contact me with any questions.

Beth Jenkins
South Florida Brokers
786-374-4778
Web Reference: http://www.arealtyteam.com
0 votes Thank Flag Link Thu Mar 11, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer