February 2nd, 2012 1:58 PM by Juan Luis Rodriguez-Kohly
SAVE YOUR CUSTOMER VALUABLE TIME. And. Your Own. As you may already know, there are no more "Condo Spot Approval" for non FHA approved condos. As of 2011 FHA has let all Condominum approvals expire. All Associations MUST reapply for the new 2 year approval. Most Associations have not reapplied or been approved yet.
If your Buyer is looking for FHA approved condos, to save your Buyer's and your own time I STRONGLY suggest you do the following BEFORE you start showing properties:1) Click here: http://RodkohlyMortgages.com/FHACondoLookup and I will do a search for you and send you a List of HUDs FHA Approved Condos for you in up to 5 Zip Codes. (Florida Only) 2) In your MLS condo/townhome search template, input the name of the APPROVED condos ONLY in the "Complex" (or other name) field, and save ithe search parameters with your Buyer's name.3) Your MLS will show you ONLY the Listings in those condos. You must do this periodically as new approvals will show up in the future. Those are the ones you will show...
If you do not do this, you will be showing MANY condos that CAN NOT get FHA financing, until a long, costly, complicated application process is completed by the Association, without any guarantee of approval by FHA.
This will save your and your Buyer's time as you will show them ONLY those condos you know they can buy with FHA Financing. You should educate your Buyer to prevent them from doing wild searches in the www and making them and you waste valuable time. They will try, Oh, Buyers will try, but you are the Professional that will narrow their search and save them time and effort. Time is money! Good Luck!
We are a FHA Approved Florida Licensed Lender. http://RodKohlyMortgages.com/ConventionalFHA
Check out Miami-Dade County's 1st Time HomeBuyer Down Paymment Assistance Programs (no condos)http://RodKohlyMortgages.com/1stTimeBuyerMDC
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