Selling your Clearwater FL Home Beware FHA Appraisals Carry 4 Month Penalty

Clearwater Florida – Dear Mr./Mrs. Home seller today there almost 3000 Clearwater Fl Homes for sale. I would guess that most sellers don’t realize that after January 2010 FHA appraisals now have a 4 month shelf life. So while it’s not officially a penalty,  you tell me, because now when you get what you think is a “low appraisal” on your home using the new HVCC appraisal process you may be tempted to not sell to the current buyer because the appraisal says it’s currently worth less than you believe. You may be tempted to say find I’ll let this buyer out of the purchase contract and just put your house back on the market for sale hoping to get another buyer and a better appraisal.

Well…Did you realize that the lending rules have changed and now any other potential buyers for your home for sale in Clearwater that are going to get an FHA or VA loan (which is the majority of home loans done under $300,000 in the Tampa Bay today HAVE to use that same appraisal – remember…the one you hated and just wanted to forget about?

Why? Because when a buyer is getting an FHA loan and an Appraisal / Case# is assigned – that Case# stays with that house. If a valid appraisal exists – that’s what’s going to be used so now that appraisal will actually now stay with your home for 4 months.  (If you have more questions contact our local FHA expert, Brian P Forrester at 727-216-8138.

So now you can see that regardless of what future buyers WANT to offer you for your home for sale in Clearwater they can’t and still get an FHA loan for anything more than the value given in the original appraisal.

So the bottom line Mr./Mrs. Home Seller is that no matter how much buyers really do love your house or condo – our buyer’s can’t and won’t purchase overpriced Clearwater Fl homes – and your fantasy price won’t make it through the appraisal process (with ANY buyer) so if you really want to sell, please listen to what the real estate market sold homes in Clearwater (in the last 90 days) are telling us…and price your home realistically.

If you are considering buying a home in Clearwater,  this is just one of the many areas we help with and why we believe you benefit from having your own representation in this process. We believe you deserve an advocate as well as all the current information available to determine a home’s value right now. We provide extensive analysis and advice to the buyers we work with based on our knowledge and experience so you can make strong offers. This can prevent you from overpaying as well as enabling you to get the home of your dreams that’s priced right as well as not risking losing $1000+ educating the home seller about his home’s value by doing home inspections, appraisals and more only to find out you can’t buy the home cause the bank won’t finance the home and the seller won’t seller for less and is actually stuck in denial.

I could go on forever with more real life real estate stories and will share more in the coming weeks – knowing that home sellers have an agent representing them – don’t you deserve the same when you plan to buy your home or beach condo?

So if you’re looking for Clearwater FL Realtors we’d like you to know that we are passionate about being your real estate advocate. We’re committed to delivering Results daily based on Integrity, Knowledge & Experience – helping you find the perfect Clearwater FL homes for sale.

We’d like to be YOUR Clearwater FL Real Estate Team!

Call Cyndee @ 727.710.8035 or Jack @ 727710.8036

Warmly,
Cyndee and Jack Haydon
Charles Rutenberg Realty

Clearwater Real Estate Office
1545 S. Belcher Rd
Clearwater Florida 33764
727-710-8035 (Cyndee’s cell)
727-710-8036 (Jack’s cell)

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4 Comments

  1. Hi,

    It would seem to me that when a person is unemployed, underemployed or just not making the money they used too, me included. The banks don’t want to loan you money. It’s great to say here’s a 5% loan, however if the banks only give it to the faction of the population that has very high incomes, how exactly does that fix the housing problems we face in Florida? It doesn’t it just helps the rich get richer faster. While many families lose houses that they have faithfully paid on for years. My understanding is that many of the real estate deals going to completion are cash deals, With poperty either being very expensive or under 70K.

  2. Well said Cyndee! We have at least one transaction a month where a FHA appraisal is performed and the comparables from the last 90 days are no where near the sales price. That is a tough reality check! Besides the value issue, some sellers think that the required FHA related repairs will go away as well. Not so. Glad to know you are on top of this…

  3. Pingback: Assurance for Home » Blog Archive » All About Your Home Insurance

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