My daughter is moving Hayesville, NC & will be looking for her 1st house. Does FHA loans cover short sales? Is list price a good offer price?

Asked by Ashevilletom, Laila Park Estates, West Melbourne, FL Thu Oct 13, 2011

thanks 62k short sale --

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4
Mary Lynn Mc…, Agent, 30546, GA
Fri Nov 15, 2013
Hello Ashevilletom,

Congratulations to your daughter. Hayesville, NC is a wonderful place to live!!
And it's only two hours from Asheville so you can visit her often!

The offer price versus the listing price will depend on many factors, but in general, the offer price would be lower than the listed price.

FHA has great resources, here is a link for your daughter or you:
http://www.fha.com/fha_article?id=411

Tell her to give me a call if she wants to work with a local expert who will represent her best interest!

Integrity in Real Estate,
Mary Lynn Durfee
CB High Country Realty
706.835.7616 cell
2 votes
Bill & Cyndi…, Agent, Blairsville, GA
Thu Oct 13, 2011
If your daughter is not already working with an agent, please have her give us a call and we'll be happy to discuss some options with her. We also work with a very reputable lender who is the one who will need to answer the questions concerning what an FHA loan will/will not cover and what type of loan program is best for her based on lots of criteria. Not knowing what relationship you may already have with an agent, we cannot answer your question about list price vs. offer price other than to say MOST sellers list their properties with the idea that they are NOT going to get full price. I will be more than happy to share statistics for THIS market with you that show the the difference list to sell ratios based on the number of days on the market. Our contact information can be found at the website listed below.
Web Reference:  http://www.teamdaves.com
1 vote
Abu Musa, Agent, New York, NY
Thu Oct 13, 2011
FHA cover first time home buyer within FHA guide line.CMA is the best source to make a reasonable offer.Your agent can help you to pull out a CMA. Thank you.
0 votes
Johnny Huang,…, Agent, Walnut Creek, CA
Thu Oct 13, 2011
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.
0 votes
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