FHA Or No FHA – Sellers, Your Listing Agent In Glendora Should Know!
Imagine You Are…
The proud owner of a condominium and/or townhome and have decided that it is time to sell your proud possession of joy. You entrust the listing with an agent that you hold in high regard and expect that it will sell expeditiously and at top dollar.
What many of you don’t expect is that you will be inconvenienced by viewing appointments with buyers, who are pre-approved for a mortgage loan, and yet do not have the ability to purchase your home.
Why would a pre-approved buyer not able to purchase the unit – the answer may be as simple as your condominium complex is not FHA approved. If you are curious as to how this can be avoided…the answer is relatively simple…
…the listing agent needs to clearly state on the MLS listing that the complex is or is NOT FHA approved.
Know The Facts…FHA or No FHA
I can’t tell you how many times I have called the listing agent of a unit that one of my buyers is interested in and have been told either that they don’t know if the complex is FHA approved or, that it is not FHA approved. It amazes me that the listing agents can’t take the time to do the necessary homework to find out this very important information and to share the information with all of the potential buyers by simply adding the information to the MLS listing information.
For those agents that don’t know how to find out whether a particular condominium complex is or is not FHA approved they can click on this link HUD’s Government Website and enter the condominiums name and address and if it appears on the search results it is FHA approved. It doesn’t take a genius to figure this out and it sure would be useful to the Seller, the listing agent, the potential buyers and last but not least the buyer’s agent.
Finding FHA Approved Condominiums in San Gabriel Foothills
In today’s marketplace, it is becoming increasingly difficult to find condominium complexes located in the San Gabriel Valley Foothill communities that are actually FHA approved. I routinely receive calls from buyers, whose hopesare high, and request a viewing of a listing that just popped up matching their search criteria.
My frustration begins the moment I pull up the listing, and find no mention as to whether or not the condominium complex is actually FHA approved. I then have to call the listing agent, and the vast majority of time it takes several calls to finally reach the agent, only to be told it is not FHA approved. Then I have to make the call, that dashes my buyer’s hopes when I tell them it’s not FHA approved. These calls are definitely not the highlight of my day.
Calling All Condominium Listing Agents
I implore all condominium listing agents — take the time to do your due diligence and provide all of the buyer’s agents with the necessary information to help you get your listing under contract. Just think of the time you will ultimately save yourself, by not being inundated with our telephone inquiries regarding whether or not it is FHA approved.
Sellers, you too could help remedy this situation by providing your listing agent with the pertinent information, and making sure that it is clearly stated on the MLS listing. I, for one, would be forever in you debt.
One last thought I would like to convey, to all of you agents that don’t even bother responding to our inquiries — you should be ashamed of yourselves!
If your client only knew…
Leave a comment below if you have questions of whether or not your condominium is FHA approved or not.
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Lorelle Kitzmiller
Realtor®
DRE Lic. #01509699
Phone: 626-926-1316
If your property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. We are happy to work with them and cooperate fully. Each office is independently Owned and Operated, Except Offices Owned and Operated by NRT LLC. Coldwell Banker Millennium fully supports the principles of the Fair Housing Act and Equal Opportunity Act.
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