FHA will cover any purchase within FHA's guidelines.
As far as list price, it depends on the market. If you have a RE agent, hopefully he/she understands their local market. Listing price is always a good starting point, but the perception of market value will depend on the buyer.
In a short sale situation, however, the list price isn't the price the investors (bank) will take. Depending on their BPO and research, the price will vary.... more
You would be better off listing with an agent - even at a reduced price - as the "we buy homes" businesses tend to pay less than a buyer in the open market. Even with agent fees you would probably come out ahead.
One thing you can do that won't cost you a dime is to contact a real estate agent in your area for a "Competitive Market Analysis" of the value of your home. Tell them you want a price that will SELL your home. Then you can go to the 'we buy homes' folks and see if they will come close to that value. And if not, hire an agent.... more