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Updated almost 4 years ago,

Account Closed
  • Rental Property Investor
  • Indianapolis, IN
3
Votes |
8
Posts

FHA or Coventional offer

Account Closed
  • Rental Property Investor
  • Indianapolis, IN
Posted

I am selling a house and have 11 offers. The house was listed for $170k. Leading two offers are below. What would you choose or counter?

$180k-FHA loan 3.5% down no request for warranty or closing costs. Buyers agent offered to reduce to 2% which adds $1800. The also offered to pay the remaining taxes of about $3k

$185k-Conventional loan 5% down no request for warranty or closing cost.

Main concern is that it does not appraise for $185 it might be possible to get an appraisal of $180.

My thought is to ask the conventional loan to cover up to $7500 over the appraisal and if not take the FHA offer.

What do you think?

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