FHA Property - Trying To Buy.
Looking for advice on buying a house from FHA.
The house has already gone through an auction about 1 year ago and nobody bought it.
Their selling price is very high, about 100k too high.
The house needs plenty of work.
Anyone ever buy a property from FHA?
Any tips? or Advice?
Are they hard to work with?
Are they firm in their prices?
Thanks
All you have to do is convince a Realtor that you will be giving him lots of business when you sell the houses after you rehab them.
He or she will be happy to pull comps for you.
[addsig]
A lot of investors are also RE Agents. Try to find a local group that you could join.
[addsig]
http://www.domania.com/homepricecheck/index.jsp
http:// realestate. yahoo. com /re/ homevalues/
(w/o spaces)
This is what I use. Find a handfull of properties closest in profile (br/ba, sqft, year built, etc.) and average it. This is what most people use as far as determining FMA even appraisers.[ Edited by paul714 on Date 08/24/2005 ]