Getting your FHA offer Accepted-by FHA Los Angeles Realtors Munson Realty

Getting your FHA offer Accepted  

by FHA Los Angeles Realtors Munson Realty

Getting your FHA offer Accepted-It's not always about getting the "good deal"- It typically takes the FHA buyer 1 or 2 "lost deals" to get up to speed on how to make an FHA offer that the seller will accept.

FHA is a wonderful program because of the relaxed requirements on the credit score and low down payment (3.5%). But when you are competing against conventional or all cash offers with FHA, it's real easy for your offer to go to the back of the line, especially if you are low balling.

Why is that? Well, FHAis real picky about the property condition, there are certain guidelines the home or condo must meet to satisfy FHA. While this is great for the buyer, it is cumbersome for the seller who must make all the repairs. Also, when comparing an FHA offer with 3.5% down and a Conventional offer with 20% down, which would you choose if you were the seller?  Don’t forget, the FHA buyer wants up to 6% credit towards their closing cost, yet another hit to the sellers’ bottom line. Put yourself in the sellers shoes and ask yourself what would change your mind (if you were the seller) and get you to accept that FHA offer? It's pretty clear, the answer is more money! You got make very difficult for the seller to turn you down and over look those conventional 20% down offers. 

FHA buyers remember this: for you it's all about terms! For you it’s getting those closing cost covered and getting in the house at 3.5% down. That is your priority. If you are going FHA and out to find a steal, you are in for a bumpy and fruitless ride. But, if you want to find a home you love, can afford and intend to keep for the next 5 or more years, you will find a home!

If you are getting an FHA loan for your future home purchase, then you will appreciate this video which speaks directly to focusing on your "terms" rather than offering price. If you aren't getting sellers to accept your FHA offers, they watch this. If you haven't begun placing offers on homes, and you're going FHA, then educate yourself now! 

by FHA Los Angeles Realtors.Munson Realty

To see video click here. 

Copyright © 2011 By Stephen Munson-Munson Realty Southern California Real Estate –FHA Los Angeles*FHA Los Angeles, first time home buyer questions, Siverlake Realtors, silver lake homes for sale, FHA approved Condos, FHA Questions, Munson Realty Southern California Real Estate, San Fernando Valley Homes For Sale, Pasadena Homes For Sale*