Lynn B. Friedman - Atlanta Homes ODAT Realty: Atlanta Midtown 2BR/2B Condo For Sale - Buyer Agent Asks FHA Approved?

Atlanta Midtown 2BR/2B Condo For Sale - Buyer Agent Asks FHA Approved?

Atlanta Midtown 2BR/2B Condo For Sale
Buyer Agent Asks: FHA Approved?

Atlanta Midtown 2 Bedroom and 2 Bath Condo with TWO Gated Reserved Parking Spaces part of The Historic PONCEANA Community became available to purchase on February 18, 2016. The large unit is on the third floor, lots of sunlight and lots of privacy.

The Ponceana conversion occured in the late 1990's. Of the seventeen units in the community, only three units have two deeded parking spaces.

Priced at $218,000, a low price for Midtown Atlanta, especially given the shortage of inventory for Buyers to consider, not a surprise that three viewings happened before the Listing was up for 12 hours!

Four more showings already scheduled for Saturday and two for Sunday morning. 
The Open House on starts at 1:00 pm on Sunday, February 21, 2016 

One Buyer's Agent wrote the following text:

Hi is your listing in Ponceana FHA approved? Thanks! A----- N ----
I did not answer that question either way.
Why am I reluctant to reply about the community being FHA or not?  If you are a Member of ActiveRain, you may read this post by Nina Hollander about what happened to an agent in NC - punished for mentioning FHA as an option in a Listing Sheet.
If you are not a member, what you are missing is another truly sad story about a real estate agent being caught in the middle. The Court ruled against her even though the data sheet said in one way or another "Don't count on what is said here!"   LINK TO JOIN ActiveRain

FHA approval is a complicated process that can fluctuate - approved today and gone tomorrow OR not approved today and definitely approved tomorrow.

What can the Listing Agent and the Selling Agent do to assist their Clients and still protect themselves and their Real Estate Licenses?  Rely on your trusted individuals - your preferred Mortgage Professionals.
While our job is to keep up with a myriad of details related to Real Estate practices, we need to depend on our Preferred Lenders to ask for detailed help in their area of expertise. 
That said, did you know that anyone and everyone may look up a condominium complex to see if it is FHA approved? Click on this link to go to the official website. Once you are there, you may search for any Condominium Community at any time you choose.
CAUTION: Don't rely on the information until you check it YOURSELF or check with your Mortgage person for accuracy. For Mortgage Loans in Atlanta Buckhead, Midtown and Westside, we work with Will Hornsby, from HeritageBank Mortgage.
Want to know this special Midtown Atlanta Condo Housing option? Walking distance from Mary Mac's Tea Room and the Krispy Kreme donut - less than a mile from the Ponce City Market. Easy access to the Beltline. Right in the middle between GaTech and the Emory/CDC area.
Freshly painted, professionally cleaned - only needs the New Owner to show up!
All the best - Lynn

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Comment balloon 4 commentsLynn B. Friedman • February 19 2016 09:23PM


 Good morning Lynn B. Friedman . Good luck with the sale of this condo in Midtown Atlanta.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) over 3 years ago

Congratulations on your new listing.  Nice house and nice job with your presentation.

Posted by Richard Weeks, REALTOR®, Broker over 3 years ago

I agree with you about being careful when informing agents and buyers about fha approved condos.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 3 years ago

Lynn B. Friedman ~ good morning, Lynn. There are many of us in Charlotte who are appalled by the state commission's ruling and feel it is very wrong. But till there's a reversal, many of us are not sticking our necks out commenting on FHA, VA, or USDA status.

Posted by Nina Hollander, Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor (Coldwell Banker Residential Brokerage ) over 3 years ago