I am seeing a trend here in the Metro Atlanta area that I consider disturbing, but understand the reasons for it. Buyers with VA loans are being pushed to the side in multiple offer scenarios because the listing agents are telling their sellers, and I think truthfully, that these loans come with sometimes tough conditions for the sellers. The appraisals and inspections for these loans can be tricky. Loans have been turned down for very picky reasons. Listing agents are aware of these issues and are guiding their sellers away from these offers.
It's too bad for our veterans. These are great loan products for those who served in our military and I wish we did not discriminate against these people. I get the reasons, but I would hope that sellers would accept that these loan products come with a few extra issues and strive to make them work.
Again, I really do get why a listing agent would shy away from these loans. I see it happen with FHA loans as well for many of the same reasons, especially if there is an alternative offer with a cash or conventional loan deal. As listing agents lets make sure that we offer all the information to our sellers, but lets also remember to add a bit of patriotism in there as well. My next listing is owned by a veteran and we will be actively marketing to veterans, since this is an assumable loan product set currently at 2.5%, and we see an under served market.
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