I am about to write an offer to purchase a home with a VA loan. Can someone offer some advice.....is it up to 6% that a seller can contribute to closing and pre-paids? Is the bank appraisal tougher ? Is the termite inspection the only required home inspection? In order to help my client, what should be written into the offer...subject to a satisfactory purchase and sale..........but what else??? Thanks in advance for the help I know I will get from you all :)
HI Nancy!
Terrific question and you it is very important that the offer is written correctly. One thing confuses me though and perhaps you can help. Are you buying a "For Sale By Owner"? It sounds as though you are, otherwise, if you had a Buyers Agent they would know the answer to your question.
Having said that Nancy - If you are dealing directly with the owner if it is YOUR best interest to hire a Buyers Agent to represent you. Here, I don't mind, Let's get together and learn if hiring me as your Buyer's Agent would make sense.
Please call me and let me know which is best for you to meet - Afternoons or Evenings: 508-479-9833.
Sincerely and with Warm regards,
Mary Condon, MBA
If I understand your question correctly, your Buyers will be using a VA Loan to purchase. If so, then your offer should be like any other as their buyer agent. It should be subject to a satisfactory home inspection, WDI, Radon etc. If the home is on well and septic, I believe it will have to have satisfactory water and septic eval as well. The Mortgage broker or the gov website can give you more info on required inspections. I will usually offer the price to be paid first, with a note requesting an addition 6% seller's concession once a price has been agreed upon. Otherwise, some sellers and agents get confused on what you are really offering. Of course, it must be subject to a satisfactory appraisal, but this is usually written into the contracts by attys.....good luck!
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