VA Allows Buyer-paid Broker Fees Call Charles Stallions 850-476-4494
By Charles Stallions, 850-476-4494 - Pensacola, Pace or Gulf Breeze, Fl.
(Charles Stallions Real Estate Services )
VA Allows Buyer-paid Broker Fees11/13/2024 The U.S. Department of Veterans Affairs (VA) issued a policy change that now allows payment to buyer brokers on VA loans. However, these fees will be subject to certain safeguards, such as requiring that all buyer-broker fees charged to veterans "must be reasonable and customary within local markets." The circular is effective Aug. 10, 2024, and is valid until rescinded. The VA also clarified that veterans can still ask sellers to cover these fees, which will most often be negotiated in the offer to purchase agreement. As the practicality of the lawsuit settlement becomes clearer, the VA is expected to issue a permanent policy. This policy change will protect veterans in situations where there is competition for a particular property, and the...
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