There are many potential buyers are out casually looking for homes in gated communities or complexes. Unfortunately, most are wasting their time since they are planning to use an FHA loan and are unaware that the complexes and communities need to have prior approval in order to use that type of loan. This truth proves the importance of buyers finding a knowledgable agent in the beginning of their search to help maximize their time.
HOA Board Members should also consider whether getting their communities FHA approved is worth the time, money, and effort. The argument for is that they are currently missing out on a great deal of potential buyers who could be making offers, and competing to drive their values up.
