Does Your Listing Show "VA" In The Financing Options? Read This!

Opps forgot to login...Great time saving tips...I love it when people are able to see potential in places and look beyond the junk. Most are not able to do that!

Wow!  Never had this come up before with a VA appraisal, and we have a lot of VA loans here in the Norfolk area.  I can't imagine not allowing a VA offer in an area like ours where we have such a large percentage of military buyers.  And I have never had an issue with a VA loan over any other type of loan.  (But a loan officer who makes house calls?  Now that IS service!)

This is a great point for VA loans but it is also just a good point in general. I would never let my seller leave stuff like this sitting around outside even if this were a cash deal.

I love the idea of the lender coming out to the home before the appraiser comes. That is very smart. Thanks for the post.

Mike,

Thank you for bringing this up.  Though we do a great number of VA loans - being so close to Joint Base Lewis McChord here in Tacoma - we have not run into this issue before.  Maybe our sellers are a little bit neater in their house keeping. ;-)

Mike, this is important information for a seller to know in many states.  And it's not just VA.  FHA applys as well.  If you advertise your listing as accepting VA, FHA or other particular financing, then you are saying that it either a) qualifies for that financing or b) that you, the seller, will do whatever is necessary for it to qualify for that financing.

Hard lesson learned.  I hope the listing agent handles this project as they should have prior to going on the market.

Hi Mike. I love FHAs and VAs and have worked with some. Fortunately none of them looked like the one in your picture. 

I had a borrower that had to put a railing on his deck and stairs and the appraiser agreed to let me take the pictures and send to him and there would be no charge for signing off on it.  That saved us at least 3 days in the closing process.

I am always greatful when I read articles like this that provide the important details that we should all be aware of. This is why we earn our commissions, because this is a complicated business. Thank you.

I did postabout this and many agents are unaware that VA FHA and USDA have seperate sets of requirements for lending

Right on Mike -- some of the VA listings have junk piled up higher than ones head.

You'd really think brokerages would make sure their agents understand this. Especially where VA is relatively common.

Mike,

Sorry I'm late. People must consider VA and FHA today if they seriously want to sell!

Bill

Mike, ridiculous but true. I often think that the appraiser does this so he gets another 'trip charge' onto his fee.  Just too many reinspections going on lately.  Granted the 'trash' should be removed but really what does it have to do with the price of the home? It's habitability?

Hi Mike -- I just went through a VA transaction with a buyer but luckily it didn't have this issue.  I had no idea.  I've also never heard of a loan officer willing to visit a home like that -- that is way cool customer service, let alone even knowing this constraint applies.  Your post here illustrates so well why it's critical for a buyer to surround himself/herself with very capable real estate professionals.

Something else to remember. I suppose the valuables on the porch were just a little too excessive. By the way, is that green blob a cactus in a pot?

Didn't know this.  I learn something new everyday.

I love VA loans, USDA and FHA BUT all those appraisers are very strict when it comes to things like this !! Irregardless of the type of loan, I would have had my Seller clean that up in the first place ! Donate it or something but it makes a home look uncared for.

Does this mean there are not many VA buyers for bank owned homes??  Or will the bank spring for the clean up fix up to get it sold.  Them's some serious cacti there.