No FHA or VA financing? Recently I’ve seen several property listings state in the Broker’s remarks (area that the public can’t see) that the Sellers will not accept offers with FHA or VA financing. Do these Sellers realize that they’re possibly ruling out 95% of the market by not accepting that type of financing? 
I’m shopping in a range for first-time home buyers who will typically have FHA or VA financing. I’ve explained to my Buyers that if they choose an “as-is” property, they will be responsible for whatever repairs may be required by the type of financing they choose. They understand that and we’ve steered clear of properties that will require more repairs than they can afford.
Years ago, there were more financial costs for the Seller when accepting FHA or VA financing, but those costs are truly insignificant now. Repair costs can be negotiated and the prospective appraisers are not as stringent as they once were.
Remember that FHA and VA appraisers are looking for safety and health issues. They don’t care if your dishwasher doesn’t work or your air conditioner is old – they care if the hot water heater needs to be raised or if there is chipped and peeling paint.
Come on Sellers – don’t turn away such a large portion of your potential market!
Lori is a residential Realtor with Chinowth & Cohen Realtors serving the greater Tulsa area, including midtown Tulsa, downtown, Owasso, Sand Springs, Broken Arrow, Bixby and Jenks. Visit Lori’s web site, LoriCain.com or call 918-852-5036 today!
