Buying A Home
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Getting FHA approval on a condo tract

We put an offer on a condo in May, and got the approval back from the banks (it has two loans and is a short sale) in the first week of July.  I sent everythinig over to the lender and he calls and tells me that the FHA approval on the condo trac expired in May.

The lender doesn't seem to think that getting the FHA approval re-instated is going to be an issue, but here we are two weeks later.  I had to pay $600 for HOA documents and now we need to ask for an extension on the contingencies.  I wasn't stressed out about it until my realtor told me he was a little worried (he is a personal friend). 

Has anyone had to deal with a situation like this?  If so, how did it end up?

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Re: Getting FHA approval on a condo tract

  • The FHA approval on our condo expired before we purchased it. Our condo association reapplied. I'd reach out to the condo association rather than the Lender, since it is the condo association that makes the decision whether to reapply. The process can be very fast if the paperwork is done correctly.
    BabyFetus Ticker
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