5,104,931
I've not had issues with VA buyers and love them just because they are veterans. It's mostly getting through the VA appraisal process, but if the contract is at a fair price and you have an experienced VA lender handling the buyer, I don't see downside and haven't experienced any to-date. (And I do a number of these each year.)
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Candice A. Donofrio
Fort Mohave, AZ
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Allie Angeloni
Oro Valley, AZ
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Richie Alan Naggar
Riverside, CA
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Jeff Pearl
Lovettsville, VA
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Fred Griffin Florida R...
Tallahassee, FL
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Carol Williams
Wenatchee, WA
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Richard Weeks
Dallas, TX
45,957
I love working with VA buyers. The key is making sure that the lender is a seasoned VA lender because thats where all of the issues will arise. Obviously a buyer with a pretty clean credit record is a major +++ I am working with a VA buyer right now and the lender is fantastic. We are closing 2 weeks early because the lender is so good.
Any CONS in my opinion would generally fall squarely on the lender who didnt anticipate something and has to scramble at the last minute resulting in a delay in closing.
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
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Robert Smith
Brighton, MI
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Fred Griffin Florida R...
Tallahassee, FL
4,272,548
I love working with veterans and any challenges are insignificant after what they have had to endure...
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
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Fred Griffin Florida R...
Tallahassee, FL
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Carol Williams
Wenatchee, WA
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Nina Hollander, Broker
Charlotte, NC
6,393,609
Pros; you get to help a veteran.
cons; you get to work with the government.
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Mary Yonkers
Erie, PA
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Allie Angeloni
Oro Valley, AZ
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Richie Alan Naggar
Riverside, CA
108,016
One glaring con:
If you're the listing agent accepting a VA buyer, you have to deal with that damned pest inspection (not in all states). It helps to know a local inspector that's not out to slam the property with tons of insignificant issues so they can get a contract to do the repair work for an outrageous fee. Inspectors that also do the "cures" are the ones to stay away from. One the single biggest rackets in our industry.
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Richie Alan Naggar
Riverside, CA
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Fred Griffin Florida R...
Tallahassee, FL
3,071,489
None
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Tony and Suzanne Marri...
Scottsdale, AZ
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Richie Alan Naggar
Riverside, CA
290,969
I have only seen 1 VA Buyer (we were representing the Seller), so my information may be limited, as we see mainly Cash Buyers. A 'Con' would be the Seller will pay for more, and a 'Pro' would be you have the house under Contract Richie Alan Naggar. I will be interested in reading other answers, too!
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Candice A. Donofrio
Fort Mohave, AZ
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Richie Alan Naggar
Riverside, CA
2,684,109
Pros: the Buyer is a Veteran. Most Vets will have discipline, seriousness, and determination.
Cons: any above-and-beyond termite letter / pest inspection that the VA may require.
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Allie Angeloni
Oro Valley, AZ
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Richie Alan Naggar
Riverside, CA
1,052,211
VA is actually pretty good as homebuyers go . . . seller only has a couple of true disallowables to deal with, so you can negotiate away a lot of the seller contribution if you want to. The VA appraiser is the only one who can alert you if they are having trouble getting a value and need help with comps, but it looks like you have pricing right, so I think if the deal makes sense, do it. The con is that there can't be any deferred maintenance which looks like a non issue for your Q, and the buyer is going to ask for CCs.
PLUS . . . our veterans deserve every opportunity!
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Richie Alan Naggar
Riverside, CA
1,153,794
The only "cons" I know of is unfamiliarity with their use. You won't be able to close immediately but the timeframe can be similar to conventional if your ducks are in a row. Helping our Veterans is the only way to go whenever possible.
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Richie Alan Naggar
Riverside, CA
1,525,616
A VA buyer is sometimes a little more picky because of what the VA requires for the appraisal, termite and moisture and the loan.
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
911,338
No cons that I can think of. Many agents worry about VA appraisals being lower than expected, but i don't know how often that happens.
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
5,583,278
there are NO cons in accepting a VA buyer as long as the buyer has his/her letter of eligibility and is ready to go....
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Richie Alan Naggar
Riverside, CA
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Nina Hollander, Broker
Charlotte, NC
979,496
Richie - I am about to find out on the opposite end of your question because I have a VA buyer.
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Richie Alan Naggar
Riverside, CA
617,935
Richie,
We have a ton of them here. They tend to get approved ok but with zero down they have no skin in the game should they decide to walk away.
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Richie Alan Naggar
Riverside, CA
5,216,409
2,759,812
most folks that I know who work with veterans do not have problems with a VA loans.
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Richie Alan Naggar
Riverside, CA
2,538,633
Good morning Richie. I feel it is an honor and privilege with any VA buyer. If they are qualified to purchase in the price range, it doesn't take any long to obtain the mortgage than any other financing.
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Richie Alan Naggar
Riverside, CA
1,090,922
My only experience with VA was nearly 40 years ago when we bought our first home and it went very smoothly and quickly. I can't comment on the pros and cons in today's world but if a buyer wanted to go VA, I would do whatever I could to help them.
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Richie Alan Naggar
Riverside, CA
4,319,419
PROs, you have a buyers. CONs, none perhaps. You just need to be on top of financing of this buyer, Richie.
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Richie Alan Naggar
Riverside, CA
3,988,007
Love VA buyers and they are so easy to get financed (usually).
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Richie Alan Naggar
Riverside, CA
3,164,294
if the property is in good condition I see no cons
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Richie Alan Naggar
Riverside, CA
2,224,473
It's been a while since I've worked with a VA buyer, but that transaction went as smooth as any of them.
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Richie Alan Naggar
Riverside, CA
223,831
pros many times they are willing to pay top $. cons the appraisal process and non allowable VA fees.
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Richie Alan Naggar
Riverside, CA
1,622,432
It is true, it can take longer, but other than that I do not see any other disadvantages. I'd take a VA client any time.
If you do not have any better offers, I hope this VA client gets the house. All th best.
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Richie Alan Naggar
Riverside, CA
5,005,659
I've had great experiences with VA buyers!! Love that they served and no issues!
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Richie Alan Naggar
Riverside, CA
3,986,258
Any of the gov. loans seem to come with special issues. VA has been the worst for me
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Richie Alan Naggar
Riverside, CA
1,076,551
Pros - helping a veteran get themself (and many times their family) into a home. Easy loan process in most cases. Fast turn around time. Easier guidelines make the loan processing sometimes even faster/easier than with other loan products.
Cons - lender should know the program, there are a lot of things that can ruin a transaction with an inexperienced lender. Appraisals are even more out of a lenders control than usual, and VA appraisals have a bad rep for being more stringent.
The VA process is very similar to FHA/conventional - if the home is priced right (and the appraiser agrees) and the Veteran is truly qualified for the program, there is no downside or anything that would prevent that quick, clean sale.
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Richie Alan Naggar
Riverside, CA
1,231,853
Richie Alan Naggar ActiveRain members have overwhelmingly given VA buyers a 'high five' and rightly so. Choose an experienced lender. There are several VA lenders who are also ActiveRain members such as Joe Petrowsky and George Souto.
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Richie Alan Naggar
Riverside, CA
1,844,301
Zero negatives - a buyer is a buyer.
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Richie Alan Naggar
Riverside, CA
613,494
I love working with VA buyers as they do not sweat the small stuff.
However, if there are other offers on the table, the VA financing kills the chance to prevail.
Eve
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Richie Alan Naggar
Riverside, CA
900,128
Aren't there VA fees between 1.25% - 3.3% that the seller is often asked to pay?
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Richie Alan Naggar
Riverside, CA
1,502,998
People from Virginia tend to be very nice.
Oh, VA as in Veterans Admin... The house needs to be in good condition otherwise they won't lend on it. Other than that, make sure the lender specializes in VA loans and has direct access to the VA's system for their certificate of eligibility. I had a VA escrow close in 30 days post trid.
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Richie Alan Naggar
Riverside, CA
4,434,127
I always try to help veterans . As it is in good condition it should be fine.
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Richie Alan Naggar
Riverside, CA
4,800,082
Other than being careful with the seller side fees in the contract, there shouldn't be any negatives.
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Richie Alan Naggar
Riverside, CA
846,475
Haven't done one of those in probably 20 years.
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Richie Alan Naggar
Riverside, CA
1,725,996
1,712,676
225,526
Never had a problem with doing VA loans. If you have a good lender, it won't be a problem for you either. And it is the least we could do for a vet.
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Richie Alan Naggar
Riverside, CA
321,564
Recently I worked with a VA buyer. No issues, my listing was in great shape and the inspection went well. Their agent worked with many VA loans and knew what she needed to make the contract go smoothly.
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Richie Alan Naggar
Riverside, CA
1,239,901
Never bother with a VA or FHA loan, I give it to those who do not mind the hassle.
Because of TRIAD and long delays over >$1M+ home sellers do not like mortgage buyers. They like cash 7 days and they have a choice.
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Richie Alan Naggar
Riverside, CA
316,098
What Andy Madrid said.
Remember that the seller has to pay for the termite inspection and water test, otherwise it's pretty standard. ONLY work with an experienced VA lender.
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Richie Alan Naggar
Riverside, CA
634,482
Make sure the property passes VA requirements. We've had no problems other than that.
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Richie Alan Naggar
Riverside, CA
400,356
Since the listing is in good condition, it should be just fine. The biggest roadblock is usually that the listing agent has a bias against or does not understand VA loans. Since you're the lister, you're good.
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Richie Alan Naggar
Riverside, CA
2,178,603
Everyone wants a quick, clean sale. I always loved working with veterans. I would hope they don't turn down an offer if a veteran wants to buy the home. That would be unpatriotic, in my opinion.
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Richie Alan Naggar
Riverside, CA
5,049,466
I've not had any problems but only a handful of VA buyers in recent years. Appraisal and condition of home can be an issue in some cases but none here. There are sme other hoops to jump through but so what!
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Richie Alan Naggar
Riverside, CA
4,882,355