The latest FHA condominium guidelines eliminated the two main reasons the public quit buying condominiums,
1. They couldn’t afford the down payment
2. They lost confidence in the association’s financial status
Condominiums that received FHA approval soon learned that approval alone was not enough to draw buyers. Lack of confidence in the financial stability of association fees and reserve accounts kept buyers and Realtors away as well.
Click here to read entire story: Realty Times - Little Known Player Helps FHA Provide Much Needed Trust-Building Guidelines for Condominiums
