Margaret Rome's Blog

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Myth: Don't Accept An FHA or VA offer.

 

 

With FHA appraisals...the main concerns have to do with safety...cracks in sidewalks that could be a trip hazard, chipped or peeling paint, lack of handrails and broken windows. And of course blatant neglect with signs of water penetration, roof leaks, and obvious mold.

These concerns can easily be addressed at the listing appointment. Agents can and do educate and hopefully alleviate the myths.  VA loans seem to really want to help the veteran, not make it more difficult. Having a good lender and a knowledgeable Realtor® to educate and explain the nuances of the different kinds of financing is most important. There are plenty of deals that can be successfully completed with government loans. 

Now a condo not approved for FHA...that is a different story. With simple research, this can be found out at the time of listing. So if you know your buyer can only go with a government loan...this may not be the best choice. With a really good lender, the buyer may be able to qualify for a conventional if they really want a particular condo.

 

FHA VA

 

Please don't assume that an FHA or VA loan is not the right one.

 

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Margaret Rome

 

 

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Broker-Owner HomeRome Realty 

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Author of Real Estate the Rome Way

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Comment balloon 19 commentsMargaret Rome, Baltimore Maryland • December 21 2018 07:55PM
Myth: Don't Accept An FHA or VA offer.
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With FHA appraisals… the main concerns have to do with safety… cracks in sidewalks that could be a trip hazard, chipped or peeling paint, lack of handrails and broken windows. And of course blatant neglect with signs of water penetration, roof… more
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