FHA or Coventional offer
I am selling a house and have 11 offers. The house was listed for $170k. Leading two offers are below. What would you choose or counter?
$180k-FHA loan 3.5% down no request for warranty or closing costs. Buyers agent offered to reduce to 2% which adds $1800. The also offered to pay the remaining taxes of about $3k
$185k-Conventional loan 5% down no request for warranty or closing cost.
Main concern is that it does not appraise for $185 it might be possible to get an appraisal of $180.
My thought is to ask the conventional loan to cover up to $7500 over the appraisal and if not take the FHA offer.
What do you think?