Home Buying in Miami>Question Details

verolegal, Home Buyer in Miami, FL

Is there a way to view a list of homes that are already VA approved in Miami Dade County?

Asked by verolegal, Miami, FL Thu Dec 27, 2012

Pre-approved for a VA loan of $150 K. Looking for a single family home in Miami-Dade County, preferably not as far south as Homestead, FL. 3/2 if possible but would settle for 2/2 if the price and location were right.

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The Public needs to know that ALL single family, detached homes that meet minimum HUD condition stds ARE possible to finance with a VA Loan. The property MUST have running water and hot water, functional electrical systems (no exposed wiring or screw fuses or knob & turn connections etc) operational cooking & bathroom facilities. Every lender may also have their own "overlays" as to stds higher & greater than the min HUD stds and those do vary from lender to lender. Cosmetic concerns don't necessarily affect VA financeability unless the cosmetic damages are a result of adverse functional defects of the property. Fee Simple, Lot & Block Townhomes are treated like single family detached homes. Condominiums MUST be FHA/HUD approved and in Florida there are very few of those and they are falling off the list everyday. You can check at http://www.HUD.gov under "resources" and search for the word "condominiums". I'm sorry that the processes are not simple and straightforward. Each VA loan approval is on a "case-by-case" basis and we are dealing with several local, state & federal government entities and their own agendas. Then to make matters more challenging there are Sellers & agents who are not educated in these matters and resist VA financing (and even FHA financing) because they perceive difficulties in getting approvals, longer closing times, more expenses required that the Seller pays and not the VA Borrower etc. You should contact an experienced FHA-VA Approved/Educated lender and Realtor, like myself and my team, to get expert professional help. Please feel free to call me during normal business hours and also send me your email address & phone number I don't mind talking with you at no cost or obligations to you upfront. Best regards, Stevecepstein@gmail.com 305-546-5132
1 vote Thank Flag Link Thu Dec 27, 2012
Some agents may input "VA financing" is okay on the MLS if they "think" the house will pass the VA inspection.

I did have a client that found their dream home only to be disappointed when the VA Appraiser said the roof needed to be replaced (although a licensed roofing contract certified the roof for 4 years remaining life). The Seller was not in a position to install a new roof before closing and the VA ABSOLUTELY would not allow the roof to be put on "after" closing.

Also as a VA buyer we have the Military Heroes money from the State of Florida that may be able to give you up to $7,500 to be used towards your downpayment and closing costs. Take a look, you do not have to be a first time homebuyer if you're getting a VA mortgage:

http://apps.floridahousing.org/StandAlone/FTHBWizard/FTHBWiz…

So, you may not want to waste time looking at homes with older roofs. We tried everything to work out the roof issue but ultimately my client lost his money spent on an appraisal (about $400) and did not get the great house.

All the best,
Alma
Alma Rose Kee, PA
http://www.SoldOnTampa.com
1 vote Thank Flag Link Thu Dec 27, 2012
Many of those property come thru HUD. About a pre-approved in the amount of $150,000 and a single family rare to find. Miami-Dade County prices going up and up and up. Real Estate price is set by Location, Location and Location. If you want a Location and not too far like Homestead, them you need to paid more.
1 vote Thank Flag Link Thu Dec 27, 2012
We've actually found quite a few properties in Miami-Dade within that price range and single family, the problem is they will not cooperate what so ever with VA financing because all they want are cash offers. Our problem is simply finding a seller whether it be the owner or bank to simply work with us and the VA loan. But thank you for your input.
Flag Thu Dec 27, 2012
Good morning verolegal and THANK YOU for your service to our Nation!

Homes do not need to be VA Approved; only Condominiums. So, for your search for a Single Family Home you only need to find a great local Realtor who is experienced working with and negotiating on behalf of Veterans and SHOP 'til You DROP!

I say "experienced" because many home Sellers are reluctant to consider Veteran Offers to Purchase with VA financing due to unreasonable and false notions of the loan process. There's a notion that VA financing is a nightmare and too many Realtors and Sellers believe this myth. So you definitely want to work with someone who can properly communicate with other Realtors and Homeowners how the process works and dispel any myths about the process, too.

Good luck!

Trevor Curran
NMLS #40140
0 votes Thank Flag Link Thu Dec 27, 2012
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