how to negotiate with a va buyer?

Asked by Rose Bunch, Plano, TX Thu Jul 12, 2012

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Jim Simms, Mortgage Broker Or Lender, Louisville, KY
Fri Jul 13, 2012
In writing just like any other buyer. The source of your question is probably from the old days when lenders charged junk fees to the seller on a VA loan, that isn’t the case around here, what about there guys and gals?

Jim Simms
NMLS # 6395
Financing Kentucky One Home at a Time
0 votes
Cory La Scala, Agent, San Diego, CA
Fri Jul 13, 2012
Hi Rose,

You negotiate like any other offer. The seller will ultimately look at the net proceeds of an offer, and the strength of the buyer, before accepting an offer. Put yourself in a strong position: increase your credit score if needed, get more money in the bank so it doesn't look like you're depleting all your resources, etc. You want to be the buyer that the seller knows will close escrow. And, by all means, include your funds verification with your offer, so that unknown is no longer a factor. I've never had a problem with VA buyers, even when there were property condition issues to work around. If you're the only offer in, it shouldn't be a problem. If you have competition, it may not be the fact that you're a VA buyer. If it is, concentrate on the seller's net proceeds. Also - and important, use a lender that ROUTINELY closes VA loans in 30 days or less. No seller will wait an extra two weeks if there are other offers that can close in 30 days.

Your Realtor should be discussing these things with you.

Good luck to you!

Warm Regards,

Cory La Scala, REALTOR
Independence Realty
0 votes
Valli Lopez, Agent, San Diego, CA
Fri Jul 13, 2012
I don't know what the market is like in Plano, TX, but I do know in San Diego, and it's unfortunate, that there definitely is a biased against VA and FHA loans. A lot of listing agents are fearful of those types of buyers simply because they are unaware of the guidelines and rules that come with those buyers. I have experienced this since I work with many VA buyers that we are usually bidding higher than we would, just because we are VA, in order to get the offer accepted. That's the tactic that I use. Or just prove that regardless of my loan type, my buyer is strong and that I am confident in what I am doing. Sometimes, that helps negotiating too.

There are also non profits that only sell to VA, FHA, DPA etc....they are called Community Housing Works. I work with KJ Koljonen. Here's their info, you might want to check if they have a branch where you are at.

P: 619-282-6647
4305 University Ave., Suite 550
San Diego, CA 92105
0 votes
Jerry Heard, Agent, San Diego, CA
Thu Jul 12, 2012
Just like any other buyer. Your Realtor should be helping you on this. There are many points that can be negotiated so more information including market conditions etc. need to be taken onto consideration.
0 votes
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