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Video instructions and help with filling out and completing Making an offer on a va foreclosure
Cleve wants to know i'm planning to look at a VA foreclosure soon and he kind of emphasizes that it's a VA foreclosure versus a regular which we're going to talk about moving to know there was a difference yet what questions should i ask the listing agent so first wait a minute it's the famous is a VA yeah Frank this is you Big Bang is a VA foreclosure any different than any other foreclosure the contracts are different the contracts actually there's less of them there's less people were shot but the paperwork itself is just it's very difficult for many agents out in the field to even understand themselves in their agents okay hold on I got to tell you this is one of those moments on the show when I can guarantee you that 97.2 percent of the agent pot the real estate agent the real tour population had no concept that AV a foreclosure had different paperwork than other foreclosures I think it's closer to ninety-eight percent Wow 97 to us so I swear I did I had a a VA REO condo about a year and a half ago that's a double that's a double whammy i put the property on the market it was well price nice clean property association one of the only associations I've had in the past couple years it wasn't underwater good to go I get multiple offers i get a particular buyer who'd fallen out of escrow twice on some other properties in the agent says my buyer is going to go for the throat and they offered 20 i think a 22,000 over the list price so we're golden so it gets it gets to the point we're opening where we're opening getting ready to open escrow but the traditional rpa that was sent in or automatic offer contract has to be transferred over to the VA contract the multi page which is about today offer that the little buyer's agent submitted yeah on the rest be transitioned over to the VA contrast which is only like two pages so you have to get ten pages worth of fail and this agent you swear that I had told him I need you to put that square peg in that round home because he sent it to me ten times and it was wrong every time I i I'd literally wrote with crayons on I'd send it back do this right there put this there and he could not get it right he it doesn't give you all that uh the UH are they separated line my I mean line items to put in where your earnest deposit is everything in your or your closing costs credit and things like that it has to all be bundled is there less liability or at AME because the the eight th purchase agreement has a lot of protections for the wire it has pretty much it's pretty much the.