Ive been doing bpo's for awhile now and I got a section that asks "Estimated work to put the subject into "Repaired" condition (following FHA guidelines)" what are the FHA Guidelines that I am Supposed to follow?

It means, not "remodeled" condition. It wants only repairs that are required to pass FHA. Are you a new agent? I'm shocked that you don't know what the FHA guidelines are - you learn them through experience. If you don't have experience, go to the HUD web site and look them up.

http://www.hud.gov/

See HUD Handbook 4905.1 (Chapter 2), HUD Handbook 4150.2 (Chapters 3, 4, and Appendix D), HUD Handbook 4150.1 (Chapter 5).

You can find them at http://www.hudclips.org

new agents rule

thanks, I have just never been asked that in a bpo, but i do know what they are I was just checking here because Id rather be called out here then by cc when I call them and Never get a bpo again.

Wow, that's a little harsh. If, like me, you work an area that rarely has FHA loans you might not come across this even with quite a bit of experience. I've closed hundreds of deals and can only think of a handful that I had to be concerned with FHA guidelines. Just because someone doesn't have the guidelines practically memorized doesn't mean they aren't competent agents. I'll bet there are a lot of things I deal with everyday in my market that someone outside of it has never even heard of. I wouldn't be "shocked" because of it. Every market is different.

FHA is becomming more common in my area.....Origionally when i got in , i was told I might not ever deal with FHA, and right now i'm sitting on 3 buyers who have a FHA loan.

Learn the guidelines, they will help you in your REO/BPO career.

I didn't think I was harsh at all. All agents should know FHA standards. If you are a buyers' agent, how would you advise your buyers if they should bother writing up an FHA offer on a particular property? If you have a seller, shouldn't you know if their property would pass FHA standards so they know what types of offers to entertain? I haven't done an FHA deal in a couple years but I still know the basic FHA guidelines. Anyway, I think my post was helpful as it led him to the web site to find the guidelines. I'm not going to copy and paste all the standards on this forum.

I think the whole point is there a people in this world who try to get by with the minimum and then there are the people always learning and wanting to do better and provide a superior product to the client.

Fha for the most part was dead,they were getting HAMMERED by the 80/20 sub-prime loans,rates were low,and people didn't have to pay that darned mortgage insurance.

Now the same 80/20 loan that was had decent rates with a 640 score has gone close to 9 percent or higher as most sub-prime companies have gone out of business.Potential home buyers are now going to rent rather then paying extra high interest rates.

Fha with the sub-prime fallout will now become more of a player in the market than in the past few years.

Right now in my area apartment developers are salivating looking for prime land locations as with interest rates rising apartment rentals are growing back in demand for the first time in years.

IMO you should give Makin Money a little room on this. Makin Money is a regular contributor on this forum and provided some very helpful info for you and whoever else may be lurking out there. I'm sure that she didn't mean anything by it. After spending several months on this forum the ebb and flow of new and experienced agents yields a fair amount of repetition. I'm thankful that there are still agents on the site that continue to repeat the information.

LOL, I didn't know FHA had special guidelines for a house to qualify.

Oh my...say it isn't so......

Cool Guy wouldn't know.

We're in California. Try finding a house in the right price range to even qualify for FHA financing.

So true...FHA isn't even in the vernacular of LA's in the Bay Area. If a house falls within the price range in this area, it's because it's a crack house and FHA wouldn't even entertain it until it was repaired. Once repaired, it would no longer fall within FHA guidelines because of the value. and so the cycle continues....

I'm always trying to learn, which is why I don't have time to waste learning stuff I don't have a use for. I don't agree that "every" agent ought to know all about FHA guidelines. I do think every agent needs to be up to date and constantly learning about what is vital to know in THEIR market. As others have pointed out, in some markets, including mine, FHA loans virtually don't exist. If they should begin to exist, I would be the first person to brush up on them. As it is, it makes about as much sense to me as learning Greek because I might visit there someday.