The VA will accept either 10 or 15% net to VA below the asking price depending on your area. I buy in several different markets within my home state and in some areas they will accept 10% below and 15% in others. You just never know for sure what motivates them and it doesn’t always make sense. The VA price is typically based on MLS comps. They do miss the mark occasionally but not by 100K. I’d check the comps in the area to make sure of the numbers.
Can anyone fill me in on the process for bidding on VA homes. I know you go through a broker but can you flip these deals? I found one that is an “investor special” all cash for a good price . Any advice?
When the VA offers a house for All Cash only it’s because they don’t want to loan money on that particular house for any number of reasons. VA’s are rarely a bargain be they All Cash or otherwise. The only bargain to be had in VA FC’s is the Zero Down 6% Vendee Financing. Does that make it a bargain… you decide. In the last ten days I’ve closed(sold) three and bought three more.
in my experience here in houston , the closings are held at the va regional service center…i can’t say that they would be to thrilled to do a double close…
on the va properties there is no owner occupant b.s. so if you are in an area that the va has title companies do the close, call them and ask them if they’ll do a double close on the va you get… .
Thanks for the response.
This zero down 6% is offered by the VA?
One thing I noticed is this house was last purchased for 133k in 2000 yet the VA is asking 185k. Will they accept lower offers? Even at 185k it still seems like a good deal, ARV of 280k-290k with some minor improvements.