FHA HELP!!! -- Need a deal wizard who knows FHA regulations
Hello BP,
I have a deal that I am in right now that is about to fall apart. House on market for $144,900. Appraisal came back at $144,000 so I was pretty much right on target. Hardly any comps on this one. Under contract to an FHA buyer in three days primarily because its the lowest priced house in the area. Contract came in for $150k with seller assist of $4,500, but is about to fall apart since buyer needs the assist.
Any suggestions? I don't want to lower house to $139 just for buyer to have a down payment. I would hold a second buy I am not sure that is permissible.
Hoping one of you deal wizards can make some suggestions.