Locking Up FHA SS W/ Agent
I've done a couple FHA shorts that didn't need to be listed. Well now one with Wells Fargo needs to be after the negotiator originally said it didn't. I know there was a previous post that covered this perfectly but i couldn't locate it. Number are this: FMV: 145K FHA Appraisal: $122K My offer: $101K If a realtor needs to be involved I know one that we could 'hire" for this deal. Can I lock the property up with an offer of $101K (my original based off the appraisal 82% of appraised amount?). Thanks a bunch :-S
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I PMd you on this... I can help you with the broker requirement. However, bear in mind that the FHA must NET a minimum of 82% of the appraised value. So, the offer must anticipate any Seller costs including attorney fees, transfer taxes, mortgage cancellation fees, real estate broker fee, etc.