Hi, Christy!

I am a Realtor in the Valdosta area and I believe I know the exact home that you are referring to! This home is located in the city, in an area convenient to town and Moody Air Force Base, and just across from a new neighborhood. You have definitely got location in your favor here. The down side about that is the dirt road, but you don't have to travel more than the length of the home on the dirt road, so it's not as much of an issue.

Your best option here is to hire an agent to represent you in the transaction. They will have access to the information you need to find out what an appropriate offer will be. I would love to help you as you purchase your new home! My team and I work hard to give personal service! We may think of things to help that you haven't considered! Don't get caught in the end wishing you had a representative!

Feel free to contact me if you have any other questions! Also, visit our website for helpful information!

Get an agent that's familiar with VA deals - you may have appraisal issues as well with the dirt road and train tracks.

Don't make a big mistake, get represented by a quality agent.

Hank

Hi Christybvbt. If you aren't working with your own buyer agent it's going to be tough to figure out what a fair market value of the property would be short of ordering an independent appraisal at your own expense. You stated some factors about the property that definitely affect value - the railroad tracks and depending in the amount of traffic, the corner lot.
I would address these issues if I were you.
1. What exactly do you mean that he will agree to pay nearly $10,000 in VA loan fees? Discuss this with your lender because they have strict guidelines about how much sellers can pay and how it is documented in a contract.
2. I would recommend hiring an agent to represent you and get this from contract to close. Go to one of the reputable brokers in town and ask to speak to a buyer's agent with at least 10 years' experience - to be assured of getting someone who has actually seen a VA contract before (hopefully). If you want, you could ask the broker to refer you to a buyer agent in his office, or you may learn of a good buyer agent from friends or family.

Since you have already located the property, you might offer the buyer agent a reduced commission to assist and represent you from contract to closing, or you might offer to pay the broker a flat consulting fee. In our area 1% of the purchase price is typical for this situation.

In addition to pulling the contract documents and VA forms together for you and the seller, the agent can review comparable sales with you and make recommendations for the contents of your offer.

That's a pretty good trade-off when you consider the complexity of the VA contract, loan process, inspections, etc. and you'll be getting the advice and experience of an agent in the area. It's a win-win for you and the seller actually. You may negotiate with seller to split the fee of the broker because it really helps both parties to be assured that the transaction is documented properly.

Good luck. If you would like a referral for a buyer agent in the area, just let me know by direct email to slmrealestate@comcast.net.

Sounds like you need to hire an agent Chris. My best advise is to call someone who is familiar with that area. Drive around and look at the other "for sale" signs in the neighborhood...or at least nearby. Next best advise...don't use the listing agent. They are hired by the seller (in this case, the bank) and will not work in your best interest. It is a FREE service to you to enlist the services of a qualified Real Estate professional. Their fees are already covered in the listing agreement by the seller. It only makes sense!

Good Luck!!!

Jodi Smith
Atlanta Real Estate Agent
Keller Williams Realty Consultants – Roswell, Georgia
678-763-6025
jodismith@kw.com
Tweet Me: http://twitter.com/JodiRSmith

The most important factor to use in determining your offer would be the statistics on homes that have sold and closed in either the same or nearby subdivisions within the last 6 months. These are the homes that the VA appraiser will use in completing his VA Appraisal. You will need to take into account differences in square footage, the pool, and other improvements to arrive at a reasonable offer price. I hope everything goes well for you.