Vranas Properties Viewer Mail
QUESTION: Is it hard to find a condo that's FHA approved? I have been looking around on line and noticed, there aren't many listings that are FHA approved. Sincerely, -Frustrated w/ FHA
VRANAS PROPERTIES:
Dear Frustrated,
Your online searches are showing very few
results because there aren't many buildings in Chicago that are
completely FHA approved. Don't worry though, because there is
something called "FHA spot approval" that will allow for the financing
of many units that are in buildings that aren't already completely
approved for FHA.
For your situation, once you have indicated
interest in properties we have sent you, we will do additional upfront
legwork. Before scheduling showings we will contact the sellers to try
and ascertain whether or not an FHA spot appraisal is likely to be
approved. We will eliminate any condos that don't have a a reasonable
chance of getting a spot appraisal. This saves you time and energy.
Paul Vranas
Vranas Properties
Chicago REALTOR
