Back in March it was determined that the 7 county area of the twin cities was considered a depreciating market and the 100% financing for homes would not be approved. This created a shift for buyers to either come up with a down payment or to use a down payment assistance program through FHA.
Depending on the loan officer, the wording for a FHA down payment assistance has to be in the correct order or the loan will not get a clear to close!
If you are a for sale by owner and your home is in the FHA loan limits, I suggest that you study up on how a FHA purchase agreement are written. You will need to understand what the bottom line is and how much they are asking for in seller paid contributions.
If what I just wrote looks like this to you *$&@)%)@ then maybe it is time to consider call a Realtor to help you sell your home!
I don't perform surgery on myself when I get injured, and I wouldn't want someone beside a Realtor to sell my home. I learned a long time ago that doing what your good at will make you money, and paying someone else to do what your not qualified in will save you money.
Just opinion................
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