The Truth About Loans

The Truth in Loans
What does an offer with an FHA loan mean to you, as a seller
An FHA loan is a federally backed loan for the buyer. This plays a large role in the purchase of your home. Because it is Federally Insured, your home must be in tip top shape for them to grant the loan to your buyer. It has more requirements about the condition of you home. It requires a lender appraisal.
What does this mean for me?
If the buyers offer comes in at $210,000 but the home apprasial values the property at $200,000, the bank will not lend the $210k to the buyer. This means more than likely the purchase of your home will be $200k as opposed to the $210k.
There are a few things to consider, but call me for more advice