People that have sold a home, come in pls

[dreemkin]

You all probably know (from all the b & m'ing) that I'm currently trying to sell my house. Does anyone have any experience from buyers with an FHA loan? We have had two offers now but I'm very reluctant to sell to them with the horror stories I've heard about the appraisals and fixing you HAVE to do. Plus, why should I pay for ridiculous things to be repaired/fixed for complete strangers? And one couple even asked us to pay closing costs. What am I missing here?

Please share with me good and/or bad experiences with FHA or if you have anything to add about selling a home.

[greenpony33]

No experience selling a house but I know when we were buying our house our Realtor said it is expected to ask the seller to pay for some of the closing costs, either by asking them to pay a certain percentage of them or a set dollar amount of them, if not all of them. Maybe that's a regional thing?

[misshart00]

Apr 12, 2015 12:23:49 GMT -5 greenpony33 said:

No experience selling a house but I know when we were buying our house our Realtor said it is expected to ask the seller to pay for some of the closing costs, either by asking them to pay a certain percentage of them or a set dollar amount of them, if not all of them. Maybe that's a regional thing?

Same here. And to fix certain a things that come up in inspection.

You can always say no, but I think it'll limit your ability to sell if it's common in your area.

[cloe111479]

No experience selling it with that but we were buyer. They minor things that had to be fixed were very minor. I sure they were a small pain to do but I think they got more money from us because of it.

[misshart00]

Also, after our inspection, rather than asking them to fix everything, we just asked for $1000 off what we paid for it.

[misshart00]

Even with traditional loans, several require a not-so-fun appraisal process.

[junebugjam]

I think the people we sold to had an FHA loan because I remember worrying the house wouldn't appraise for their offer price and we wouldn't get what we thought. They did ask for a few minor things to be fixed, but I think that's typical. We did the same thing with the house we bought and it was a traditional mortgage. We didn't fix anything for them though - just offered a $500 credit and they accepted.

I don't think it's typical to ask for closing costs. We had one offer that did, but we didn't sell to them. I'm in NJ if that makes any difference.

[seamonster]

I haven't sold a house, but when we bought we only asked for things that failed inspection to be repaired. Like the roof that needed to be fixed before the rainy season started (two weeks after we closed came the rain).

I think it's standard for any loan that the appraisal come in at or below the loan amount.

[dreemkin]

Thanks for the input. I wasn't sure if some of you were talking about selling in general or the FHA loan process (which is quite different). But we got a good conventional loan offer tonight!!! Hopefully this one will work out. FHA sounds like a PIA. We shall see.