My husband and I have found what looks to be a fantastic starter home for our family at a reasonable price ($460k) for the area and what it has to offer.
It’s been on the market for a little over two weeks, which is a little longer than normal for our area.
Doing some digging online, I saw that the Secretary of VA Affairs looks to have “bought” the house for $0 in March. I’m assuming that the VA took over ownership to avoid foreclosure on the previous owner who may have been a veteran (unfortunate situation if that is the case), although not sure if that’s how it works.
Although the price is reasonable for what the house provides, it is a little on the higher side of the spectrum of what we’ve been pre-approved for by the bank.
Wondering if anyone has any experience with VA-owned homes? Is there any wiggle room for making an offer, say, $20k-$30k under asking, or with situation like these, is VA Affairs looking to get reimbursed for the exact amount they spent when ownership was transferred (assuming there was $$ spent at all and it’s the listing price)? Or would the VA just be looking to get back whatever they can—closest to what the costs were?
Thank you in advance!
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/1hjxpp3/vaowned_home_question/
Comments
Post a Comment