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

Reblogger Betsie Melter
Real Estate Agent with Realty ONE Group

Great Post from Mike about Trash in or around the house. I know a lot of buyers and agents are running into this with the number of vacant homes out there.

Original content by Mike Jones NMLS 223495

Mike In Tucson: VA Financing

Does your listing show "VA" in the financing options?

In Arizona, most do, and it often comes as a surprise to the listing agent and the selling agent that VA appraisers won't allow the property to have trash - junk - stuff just laying around.

Most of the stuff you see in the photo on the right is useful.  There's nothing wrong with that telescopic ladder on the right.  The refrigerator sitting under the porch roof works just fine.

All of it must be removed, per the VA appraiser, and he's going to charge another $100. to come back and take new photos for the appraisal.

The Price Is Right

All the buyer saw when he (you know this buyer is male and single, don't you?) made the offer on this house was the price of the home.  It really is a GREAT deal.  We have him locked at 4.250, and he had planned on having a yard sale once he purchased the home.

The trouble is, the stuff is not his, and we have an out-of-state seller and a novice listing agent.

The problem will get solved, but we'll lose a week in the process of bickering back and forth between the listing agent, the selling agent and the seller.  The VA buyer will lose $100. as an unnecessary fee to the appraiser.

If you're going to show VA as an option for financing, you'll want to get together with your lender first to find out what's going to be required.

If I'm your lender, I'll visit the home with you at the outset, and you won't have any surprises.


I'm Mike in Tucson, your preferred Tucson Mortgage Lender.

NMLS #223495

SUNSTREET MORTGAGE llc ~ Correspondent Mortgage Bank
Offices (AZ) Mesa, Tucson, Nogales, and Albuquerque, NM.


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Faye Y. Taylor
StepStone Realty, LLC - Floresville, TX
Homes for Sale Floresville, La Vernia & San Antoni


What is sad is that a lot of listing agents don't know and will show a home eligible for financing for which it is NOT eligible.  Cindy showed a home over the weekend which had an incomplete bedroom.    Was it listed VA & FHA eligible?   YES.  Will FHA finance that home?  NO.  But did she waste her time showing it because you know the listing agent isn't going to put pics of the unfinished home on the MLS.  YES.

But I was not aware that VA would require trash removal so thank you for that education.

Oct 07, 2010 04:03 AM #1
Mike Jones
SUNSTREET MORTGAGE, LLC (BK-0907366, NMLS 145171) - Tucson, AZ
Mike Jones NMLS 223495


Thanks for the re-blog!  I wish you much success today and always.

Mike in Tucson

Oct 07, 2010 05:06 AM #2
Betsie Melter
Realty ONE Group - Chandler, AZ

Thanks Mike, It was an informative post for all of us out there. Especially the ones that don't do too many VA loans.

Faye, so sad to here she wasted her time. It happens far too often to buyers agents, doesn't it?

Oct 07, 2010 05:12 AM #3
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