How to Avoid This Listing Mistake

How to Avoid This Listing Mistake

One of the biggest mistakes that I see listing agents make is listing every condo they sell as FHA approved. They are NOT! Before huge changes made by FHA in 2010 nearly every condo community was approved as FHA’s approval was basically lifetime.

But, in 2010 FHA began requiring condo communities to be re-approved by FHA every 2 years which is a considerable expense and time commitment for the HOA board and property management company. Thus, many communities are no longer FHA approved. In 2018 FHA lengthened the re-approval process to 3 years; but still many HOAs have chosen to not be approved by FHA.

Now this mistake can be easily fixed by checking the website below. Click the drop down for Colorado and then enter the HOA community’s name and sometimes shorter is better. Or you can look by city or zip code.

 

https://entp.hud.gov/idapp/html/condlook.cfm