FHA buyers in San Diego and Riverside Counties
As an Realtor that specializes in working with buyers in San Diego and Southwest Riverside County, I work with many buyers that are approved for VA or FHA financing. I have heard other real estate professionals state "I can't get my offers accepted because listing agents will not even look at an FHA buyer" or "VA offers will never get accepted because sellers believe it is a weak offer."
I have written a lot of offers and found that FHA and VA offer DO get accepted. Of course most of these FHA and VA buyers do not get an offer accepted the first time and often have to submit offers on several properties before they get into contract.
Prior to showing property to clients, I spend an average of 2 hours reviewing the entire home buying process, which includes reviewing the purchase contract so when we are ready to write an offer, they have a good understanding.
In the current market, with limited inventory, buyers have to be ready to write an offer on a property the same day that it hits the market or risk losing out on what might be their perfect home. I have found that the acceptance rate of offers has much more to do with how an offer is written than it does what type of financing is involved.
Cash is king but a well crafted, market value offer with FHA financing and favorable terms stands a great chance of getting accepted over a low cash offer. The California purchase agreement is lengthy and there are many ways to write a favorable offer and still do what is the most important; protect the buyer's interest.
I recently closed on a property for an FHA buyer that only spent two months searching part time for a property. We made offers on three properties in North San Diego County that were not accepted but on the fourth we were successful and........ Well see below:
YES, we did get another FHA offer accepted and closed escrow for this awesome first time buyer.
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