: You might want to know about FHA Property Conditions before writing an offer or taking a listing.

DON'T BE FOOLED. Just because your buyer is FHA qualified does not mean your house is. Just because the MLS states, "MAY qualify for FHA financing" does not mean the house actually will either! If you are a real estate professional, you would know "FHA qualified" does not just refer to the buyer but also the house on the market.

What is the significance in knowing FHA propertyconditions as a real estate professional? Well, imagine dragging your client around from listing to listing writing multiple offers. You finally get one accepted, but everything comes to a screeching halt when you find out the house does not qualify for FHA because the inspector found 3 layers of roof and repairs that totaled over $9,000 in order for the roof to be FHA compliant. The seller did not concede on repairs and your buyer could not close. So now your buyer asked you why you did not consider this when writing an offer. You respond with, "I am not inspector." True, your not an inspector, but you are a professional SALES agent that is selling a PRODUCT. Know the product, know the customer, know the business.

There are very basic FHA property conditions that a real estate professional should check BEFORE taking a listing AND SHOWING HOMES. These conditions determine how you market the home, what to fix in the house, how and if to write the offer, etc. You don't want to get your FHA buyer's hopes up on a house that will only qualify for FHA when pigs MAY grow wings, nor do you want to limit your sellers marketability with pending FHA conditions that could easily be corrected.

Here is a five minute walk through you can take on any property (This is not a comprehensive list, this is to give you a basic metal list of what to look for. PASS FHA GUIDELINES):

OUTSIDE

ROOF: Roof cert needed if missing shingles or looks worn. TIP: Check for 3 layers or more. Any repair done on 3 layers or more, expect to pay $$.

POOL: Make sure it is clean, full, and equipment working.

WINDOWS: No broken windows. Cracked OK.

PAINT: No chipping or barewood (watch out for pre-1978 houses; new law states you must use certified lead based pant renovator if hiring contractor. This means more $$ for repairs. Good videos on lead based paint and how it affects Realtors straight from the EPA site.

TRASH and DEBRIS: must be removed from premises, inlcuding hazardous waste (outside and inside)

WALLS: no holes in firewall (wall between garage and house).

INSIDE

PLUMBING: Adequate water flow; must have hot water.

ELECTRICAL: look for GFCI plugs (must be working, don't be fooled by just seeing GFCI switches). You should not see any exposed wiring.

WATER HEATER: Strapped properly, PRV valve installed correctly, proper ventilation.

SMOKE ALARMS: Look on ceilings in bedrooms and hallways near doorways.

UTILITIES: must be on and working (gas, electrical, water)