Fred Griffin, on leave of absence from ActiveRain, Licensed Florida Real Estate Broker (Fred Griffin Real Estate)

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I'm in the middle of three of them right now - two are new construction, the other a resale condo and so far, all 30-day Closings (our target dates) will be met this month. 

We had no issues with appraisals on any of them and no other delays whatsoever. I think the quality of the lender is key. As for your Offer - you'll be able to ask the right questions to the lender to relay to your seller.

Good luck, Fred!

Sep 04, 2017 05:51 PM
Rainmaker
242,161
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

Buyer can pay all costs, Seller can pay all costs or it can be split. Some lenders require buyer to contribute some down payment. Buyer can even bring gift money.  As long as contract price and appraisal support the terms. The only thing buyer must worry about is credit and reserves.

Typically, 45 days but some lenders can go faster. I would ask for 45 days

Sep 04, 2017 02:09 PM
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I do FHA's all the time. Seller does not need to pay for anything. My FHA loans have been closing in 30 days or less with my lenders here from date of contract. No issues in a very long time. But keep in mind that homes should be in reasonably good condition.

Sep 04, 2017 01:58 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Everything is negotiable, including not accepting fha financing.

Sep 04, 2017 07:56 PM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Can pay up to 6% of sales price in closing costs with my lender, but in GA everything beyond the prorated taxes costs is a buyer fee and it's no different on FHA.  

You do make me happy I have "that lender" who I call their cell on weekends and holidays they answer.  Even if it's NOT their client, but my listing and I have this type of loan question they answer because they know how much business I send their way.

Sep 04, 2017 03:46 PM
Rainmaker
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Didn't take any longer than conv. In IL they no longer have to get a termite inspection so zero extra. That was it. 

Sep 04, 2017 02:17 PM
Rainmaker
3,369,821
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Buyer can pay everything but the tax service fee of $79, but some lenders waive it. No issues. Seller can pay buyer's closing costs if they are included in the price.

Sep 04, 2017 01:30 PM
Rainmaker
418,513
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Often with an FHA loan, the buyer will ask for the seller to pay for the buyer's closing costs as the buyer often has very little money to put into a down payment. We have often handled this by having the buyer offer over asking price so that the additional money the seller contributes to the buyer to make the sale happen does not come out of their pocket but they net what would be a normal full price offer. In an escalating market, this works fine as we can justify the additional price to an appraiser. In a market going the other direction, this can be a problem. We have no issues with FHA loans now. But the seller will have to make sure the home itself can pass an FHA inspection.

Sep 04, 2017 12:42 PM
Rainmaker
1,117,233
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

The last FHA closing I had was very smooth, no problems at all.

Sep 05, 2017 06:19 AM
Rainmaker
641,021
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

they really can ask the seller to pay up to 6% of the buyers closing fees... we usually put a cap on that. And we do warn the sellers up front. Other than that they go pretty smooth  

Sep 04, 2017 11:57 PM
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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

My last FHA sale closed in under 4 weeks and there was no problem with the appraisal or repairs. I have had a dozen or more close this year and they all have gone very smoothly. The seller usually pays a portion of our closing costs in my area regardless of the type of loan. Buyer cannot pay junk fees and non-allowables. Get an estimate from the lender to know what you are dealing with.

Sep 04, 2017 07:08 PM
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JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

One other thing to add; flaking paint is always an issue. Make sure any area with flaking paint is scraped and repainted. Otherwise a reinspection will need to be done, adding to the time line. 

Sep 04, 2017 06:16 PM
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5,124,886
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

the team members do many FHA loans.... just as good as a conventional loan.... seller pays nothing....

Sep 04, 2017 05:11 PM
Rainmaker
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

FHA loans are standard products in our market.

Sep 04, 2017 04:49 PM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

75% of my sales with a mortgage are fha. It has been 45 days to close, biggest delay is the appraisal. My best advice is make sure the home passes a fha appraisal before the appraiser gets there. The seller does not have to pay anything, however neary all buyers ask for 3% towards closing costs, i simply tell my seller up front and build it in from the start, 

Sep 04, 2017 03:24 PM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Haven't done one in years but they have streamlined it.

Sep 04, 2017 03:22 PM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

There used to be fees the FHA buyers were not allowed to pay, but have not seen those in quite a while.  Appraisals are sometimes tough, depending on the appraiser you get.  The loan did not take any longer than a CV one.

Sep 07, 2017 02:35 PM
Rainer
53,318
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

Fred; I forgot to state. FHA / VA deals are very easy to get approved and closed. The avergage time is 45 to 55 days.  Call me I do loan is all 50 states.

Sep 07, 2017 11:02 AM
Rainmaker
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We block our sellers from paying extra fees, unless they are desperate and willing

Sep 06, 2017 07:55 AM
Rainmaker
1,264,732
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

FHA - Out here I've never seen a seller asked to pay anything on an FHA loan.  I had an FHA loan about two months ago.  Buyers (not mine) started out as conventional then had to go FHA.  Lender sent the FHA amendatory clause paperwork out, my seller didn't want to sign it.  Called the state's attorney... best call I ever made.  The California Department of Real Estate attorney advised... never to sign ANY form not required by the state!  This included the FHA form but also... the AVID, broker addendums, 90% of the state's forms!

Sep 05, 2017 09:24 AM
Rainmaker
854,816
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Haven't done any recently sorry nothing to help

Sep 05, 2017 06:58 AM
Rainmaker
3,129,675
Richard Weeks
Dallas, TX
REALTOR®, Broker

I have not seen any non allowable closing cost in years, and have not had any problems with FHA loans.

Sep 05, 2017 06:44 AM
Rainmaker
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Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

Usually no problem at all 

Sep 05, 2017 06:08 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Sellers don't have to pay anything if you indicate such in the contract.

Sep 05, 2017 05:39 AM
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

In California, we have an FHA/VA Addendum.  For FHA - there are no "MUSTS" but terms can be negotiated.  In our still competitive market, there are listing agents who have a distrust(or lack of knowledge) of an FHA offer when there are multiple offers on the table with conventional financing.  

Sep 05, 2017 05:32 AM
Rainmaker
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Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Joseph Domino 480-390-6011 nailed this one!

Sep 05, 2017 04:47 AM
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Fred Griffin - most of my buyers do put down a lot. And in MA, the other options are preferred - like MassHousing.

Sep 04, 2017 09:49 PM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Fred,

Looks like everyone gave you good answers. A

Sep 04, 2017 09:05 PM
Rainmaker
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

Our contract is different and does not make FHA any special. The only difference is closing of escrow: 40-45 days after acceptance. All closing costs are negotiable. 

Sep 04, 2017 08:37 PM
Rainmaker
3,983,763
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I have not done one is a while, but I always check it out real closely

Sep 04, 2017 04:11 PM