Smoking A Pipe Thoughts on Accepting A VA Loan Offer for Property ?

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alan73

Part of the Furniture Now
Apr 26, 2017
667
657
Wisconsin
full price offer . Heard internet chatter about problems with VA loans to close deals .

Only been listed since Wednesday.
Offer made Monday , buyer wants agreement or says they they’ll move on to another property

2 more scheduled showings tomorrow and Saturday
 

Briar’s Echo

Starting to Get Obsessed
Oct 15, 2022
161
270
Lancaster County PA
full price offer . Heard internet chatter about problems with VA loans to close deals .

Only been listed since Wednesday.
Offer made Monday , buyer wants agreement or says they they’ll move on to another property

2 more scheduled showings tomorrow and Saturday
As a veteran I purchased my house last year using a VA loan. The stickler with a VA is that the government wants to make sure the house is safe and sound without any defects that could compromise the buyer. That said the buyer can also agree to cover any repairs that the home inspection finds. Other than that the loan is guaranteed to not fall through like some conventional loans can when the buyer doesn’t qualify. Think this is a two pipe problem.
 
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warren

Lifer
Sep 13, 2013
12,306
18,358
Foothills of the Chugach Range, AK
Offer made Monday , buyer wants agreement or says they they’ll move on to another property
What's the market like in your part of the world. That'll tell if you should wait for something more to your liking. I've never found a VA sale to be anymore stressful than a standard back mortgage.

Risk/reward! Your choice.
 

alan73

Part of the Furniture Now
Apr 26, 2017
667
657
Wisconsin
What's the market like in your part of the world. That'll tell if you should wait for something more to your liking. I've never found a VA sale to be anymore stressful than a standard back mortgage.

Risk/reward! Your choice.
I intentionally listed below comps in Chicago . 2740 W. Agatite . Bought in 1999 when I was 26, next to my grammas building (1945 purchase) and my mom across the alley . Chicago is a weird real estate market , building was worth the same in 2008, no appreciation .
I moved out 11 years ago to work in WI , 2 tenants lived there 22 and 11 years respectively
 

alan73

Part of the Furniture Now
Apr 26, 2017
667
657
Wisconsin
Well , I did accept the offer , with the message to VA buyers broker that we would honor the preexisting showing agreements thru Thursday , and unless a firm offer is made by Friday , the building is theirs
 

alan73

Part of the Furniture Now
Apr 26, 2017
667
657
Wisconsin
Well damn then I could have 10000 tins . Sounds like a great idea . I really would like the deal if you can bump my participation rate up to the point I get 13000 tins at 100 .

Crazy story my PhD Material Sciences , best friend since preschool days, Mensa guy, roommate in college got swindled by a smaller scale thing in college lost thousands
 

bullet08

Lifer
Nov 26, 2018
10,230
41,548
RTP, NC. USA
Well damn then I could have 10000 tins . Sounds like a great idea . I really would like the deal if you can bump my participation rate up to the point I get 13000 tins at 100 .

Crazy story my PhD Material Sciences , best friend since preschool days, Mensa guy, roommate in college got swindled by a smaller scale thing in college lost thousands
Sometime ago, cousin in law was telling about a story about my cousin. One day he came home happy. She asked what happened. He said, "store cashier told me one of this batteries will cost $5. I told him that's too high. So he gave two of 'em for $10!" He's very book smart. Well to do surgeon. But not very street smart.
 
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Warlee

Might Stick Around
Apr 13, 2022
82
686
Michigan
We sold our rental house a couple years ago to a nice young couple on a VA loan. They paid above asking knowing that there may be some hoops to jump through with the VA inspector. We had to patch some cracked/unlevel concrete in the garage. But the strangest thing was having to paint the unfinished ceiling in the basement (exposed floor joists) and paint part of the garage. They said because of peeling paint. Not a huge deal just a little extra work and a few extra inspections.