I had sent some houses to my previous realtor and she said one we can’t do because it’s bank owned and they wont take VA loan. I’m getting mixed answers online so I’m asking here. Is this true or?
Can’t put an offer on house that is banked owned with VA loan?
byu/ytpmetears inRealEstate
Posted by ytpmetears
3 Comments
That doesn’t make any sense. They won’t accept cash from another bank? Will that bank only allow you to buy it if they process the loan?
Did you look to see if it has terms like cash only, no VA, no FHA? Sometimes a seller won’t do those because of extra hoops. Some homes don’t qualify because they have a problem that VA or FHA will not approve.
Yes. Sellers no matter who they are, have the option of not taking VA loan based offers, VA loans have specific requirements that sellers might not want to have to worry about.
This is why when I was house shopping in 2021, I could not make offers on any local Condos or Townhomes in my area, HOA’s hate VA loans as well.