VA Loan Guidelines for Seller

[Natalie Lund]

Hi All -

I have an offer on one of my flips, and the Buyer will be obtaining a VA loan.  I've heard they are more difficult, but am wondering specifically about requirements such as safety issues.  This property has a "storm shelter" - technically it is a 200sf shelter built for Y2K Preppers back in the 90's.  The door opens up and stairs go down - not necessarily the safest thing.  I don't want to get a month into the process and find out that is a deal breaker.  Is there anyone out there that would have some insight to this unique issue?

Thanks in advance!

Natalie Lund

Noelle Thomas Properties

512-415-3236

[Nathan Rice]

Hi Natalie,

I have two VA loans. VA loans are guaranteed (as apposed to FHA insured) loans provided to veterans who served our country to keep you safe and make sure you can do business in our great country. There are some very small hurdles that must be overcome; but, we're talking someone who volunteered to make sure you can do business in this country. One of the things I remember having to do as a buyer was to ensure a termite report was done. It's supposed to be at the cost of the seller from what I remember. I paid (buyer) it out of pocket and the transaction still went through. I think I paid for that both times. There are certain fees VA buyers can't pay, easy work around; amend the price of the house to be increased by the amount you the seller must pay.

VA loans are a great way to thank our service members and their families who have dedicated part of or all of their career to our great country and I encourage all investors to remember that we do business in our country partially due to the military's commitment to keeping others in the world who would want to stop our success from being able to do so.

If you need more info about VA loans, my mortgage broker is a veteran with VA loans and a buy/hold investor-landlord. Contact Dan, he's extremely easy to work with! He always answers the phone to answer questions, which is very important for peace of mind during lending transactions. He has a great team to support him also! I send him a lot of business so tell him Nathan Rice suggested you call and I'm sure he'll answer VA questions for you. Plus he's a vet so I'm sure he'd be happy to help other vets.

Dan Reagan, MBA, AMP

Area Manager/Sr. Vice President

Austin Business Journal Top Producer

President's Club Member

NMLS# 208161

512-782-0808

866-422-8994 efax

dre...@houseloan.com

www.danreagan.com

PS: Please tell him Nathan Rice sent you.

Thank you,
Nathan Rice

512-270-6008

Nat...@ZippyHomeBuyer.com

www.ZippyHomeBuyer.com

https://www.facebook.com/ZippyHomeBuyer

Nathan Rice is a licensed real estate agent in the state of Texas, License #661550 Texas Law requires all real estate licensees to give the following Information About Brokerage Services at the first substantive discussion about real estate.

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[Fonda McConnell]

My friend, Maurice Federbusch, is a mortgage broker.  He will be at Investor Underground and going to RENC tonight. He can tell you everything there is to know about different loans.  He just did a talk to my colleagues at New Home Locators.  He can help you get a buyer approved that normally would not.  I have copied him on this email:  con...@valuefunding.net.  He will get you the answer about VA loans.

Fonda McConnell, agent

512-709-5900

We're going to make this house your home!

To view this discussion on the web visit https://groups.google.com/d/msgid/investorundergroundaustin/CALWgLyjtgA4J-ieizYaQBbsZ7owDYF3_b4Lt1CChSiZjOCyFgA%40mail.gmail.com.