FHA deal big issues! Need advice.

[Rob Shah]

I have a property under contract with a FHA buyer and they have already completed their inspection and the appraisal which we agree upon the sale price. However we just found out my unit is not under an FHA approved complex which when I asked the trustee he said it was but long story short I got screwed taking his advise.

Now the buyer lender is trying to convert their FHA loan into a conventional to keep the deal alive. Two questions here:

1. How difficult is it for the buyer to switch mortgage types from FHA to conventional? Any tips??

2. Assuming buyer can get conventional financing, can the lender use the same appraisal report/value as under FHA loan??

Thanks for any feedback in advance. 

Best,

Rob