Home Buying in San Bruno>Question Details

pad49ers, Home Buyer in San Bruno, CA

Give me you honest opinion on buying as a VA buyer. What are the odds. Can it be possible, are sellers willing to sell to VA buyers?

Asked by pad49ers, San Bruno, CA Sat Nov 10, 2012

This question was asked from this property: http://www.trulia.com/property/3100681426-400-San-Anselmo-Av…

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A VA loan is a very popular choice provided by the federal goverment. Most people knows that is harder to buy a house in this market with a VA loan but not impossible. Keep trying.

All the best,

Maria Cipollone

Century 21 Tenace

3 votes Thank Flag Link Sat Nov 10, 2012
The real issue with VA loans is that they require a Section 1 clearance on the termite report.
This is work that the sellers do not want to deal with unless they have no choice or it is easy and there is not much work.
I recently got a buyer into a home in San Mateo with a VA loan.
We had the highest price and the section 1 work was less than $200 and easy to do.
Unfortunately most homes have more work required than this particular home.
Your best chance to take advantage of the VA loan is to find a house in good shape with little work required to get the section 1 clearance or to find a home that there are no other offers.
All the Best,
Robert Applegate
0 votes Thank Flag Link Mon Nov 12, 2012
Good morning pad49ers and THANK YOU for your Service to Our Nation!

I think there are misconceptions about VA financing that may pose a challenge for a Veteran shopping for a home. Those misconceptions can work against you when you present offers and you are competing against other qualified Buyers.

In my experience if you are working with a great Realtor and Mortgage Banker who are both experienced in and understand the VA Loan Program, they can help communicate the facts about VA Financing to a Seller and Seller's Agent, thus removing the obstacles from your path towards homeownership.

Find yourself an experienced Local Mortgage Banker who specializes in VA Guaranteed loans and get Prequalified; that should be your starting point. You can then lean on your Mortgage Banker for specific questions of this sort so that you are guided in making the best choice for your family.

Good luck!

Trevor Curran
NMLS #40140
Mobile: 516-582-9181
Office: 516-829-2900
Fax: 516-829-2944
PowerHouse Solutions, Inc.
185 Great Neck Rd, Suite 240
Great Neck NY 11021
Licensed Mortgage Banker – NYS Dept. of Financial Services
0 votes Thank Flag Link Mon Nov 12, 2012
You should compare your VA loan benefits to a conventional one and see which one works best for you! Often a VA loan has some requirements for the home to be in top shape including paint, fences, and other stuff not usually of any concern on a conventional loan. These restrictions can be a hassle for both buyer and seller. Depending on where you are looking and if there is a lot of competion to buy, a VA loan can be great or a pain in the butt. Maybe you can qualify for a VA and a conventional loan a a back up plan!
0 votes Thank Flag Link Sun Nov 11, 2012
Yes, some sellers are certainly willing to sell to VA buyers. In my experience, VA buyers have a better chance at a deal when purchasing a traditional sale (vs. an institutional seller).

If you keep plugging away at it, you will get a property. Some additional tips....As a VA buyer, I would try to bid a bit higher than other other offers on the table. Sometimes a higher price point will offset the perceived negatives of a VA loan. Also, look for homes that are perhaps a tad less popular, a little out of the way. If you're always bidding on the homes that are getting 20+ offers, your chances are much slimmer.

Best of luck to you.
0 votes Thank Flag Link Sun Nov 11, 2012
The problem with VA loans from a seller perspective is that the buyer has much less down, the process takes a lot longer, and the approval process is rather arbitrary. In a competitive market place why would a seller accept an offer with this kind of loan when there are more attractive competing offers.

You can certainly keep trying, but you were our client I would be counseling you to look for places that have been on the market for a little while as they will likely be more receptive to such an offer.

Best Regards,

Lance King/Owner-Managing Broker
DRE# 01384425
0 votes Thank Flag Link Sun Nov 11, 2012
VA loans are actually pretty easy to close provided the property itself is not in need of too much repair. And as long as the buyer is qualified than there shouldn't be a problem. If you would like more information feel free to contact me!

Linda Chu
Mortgage Center Corp
199 California Dr. #200
Millbrae, CA 94030
0 votes Thank Flag Link Sun Nov 11, 2012
Odds are very, very low on a VA loan. If we go from the very top, even all cash buyers have pretty low odds of winning on a property. That's followed by conventional buyers with 50% down. Then, you have the conventional buyers with 5-10% down. If they all fail to win, then you may have a chance. At least you have a decent chance if you're only competing against FHA buyers.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sat Nov 10, 2012
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