Tip of the Week for 5/8

Tip of the Week – FHA Approved Condos

So your buyer found the perfect condo, got approved for an FHA loan and wants to make an offer. But you just noticed a big problem: the listing incorrectly says it is FHA approved. Now you’ve got to break the news to your client. It can be a very frustrating situation for all parties involved.

Whether you’re a listing or selling agent, we encourage you to visit the link below (HUD.gov) and ensure that the condo and/or condo association IS FHA approved. This process takes just a minute or two of your time. It will help save the buyer and seller’s agent time, and client disappointment, if the information is correct in the “Financial Information” section of the listing.

Click Here to Check Your Condo Listings

Submit Your Own Tip! Do you have a question that you would like to see featured a Tip of the Week? Or maybe you have your own tip you would like to share with other NorthstarMLS users. Send your question or idea to tips@northstarmls.com. We will use one submission each month and the winner will receive a $30 Caribou Coffee gift card!

Tips On Demand Want to check out older Tip of the Week topics? Click here to view an archive of previous Tip of the Week entries.

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