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Old 10-06-2019, 09:09 AM
 
Location: Lakeland, Florida
7,076 posts, read 12,701,243 times
Reputation: 8932

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Quote:
Originally Posted by SmartMoney View Post
VA loans were created to protect the Veteran. Back after the WWII, Veterans were purchasing homes from crap builders. The homes they bought were literally falling in on them or flooding out, building codes were not what they are now. Congress was under tremendous pressure to take care of millions of service members they no longer needed. So besides vocational training, VA home purchasing benefits were added.

So, why the history lesson? VA loans are the only loan that has an appraisal done to protect the Veteran. VA does not apologize for being tougher on property appraisals than any other loan type. AND, to prevent the Veteran from going lender to lender with hopes on finding a different result, the VA appraisal is tied to that property for 6 months. Keep in mind, the VA allows for no money down. A low appraisal means the buyer must come up with money down, money they may not have. No money down can scare a seller, too.

No one may outright say it was the VA offer that scared off a seller, but most sellers would be advised by their Realtors to accept a conventional offer over a VA offer. Not a great way to say thank you for your service, but I am pretty sure that is what happened here. Ask your Realtor if they have observed this reaction to VA offers.
Yes. I tend to agree with you on your reasoning. I think the VA loan played a big part in the denial. I just wonder why the seller listed VA loans accepted. That's what baffles me, and how quick my denial. was made, I had loan approval I would have been paying closing costs, appraisal, home inspections. The seller as far as I know responsibility was the RE Agent commission. I had everything else and asked for nothing on the sellers part.

I guess I will accept it is what it is and move forward. Or I will drive myself nuts feeling snubbed. I guess its not worth it now.
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Old 10-06-2019, 09:26 AM
 
Location: MID ATLANTIC
7,799 posts, read 18,984,596 times
Reputation: 8575
It is definitely not personal, how could it be? Checking VA contracts not accepted can bring some serious blowback. Some on CD can be quite emotional when VA contracts are refused or declined just because they are VA offers. I imagine the deep south could take offense to a no service members' offers entertained and a seller could fear such a reaction.

(Not a slight to the deep south - I am in Viginia - in military territory, pretty darn close to Quantico and 20 minutes from the Pentagon...... I have witnessed how perceived nonsupporters of the military can catch grief)
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Old 10-06-2019, 09:35 AM
 
Location: Virginia
4,192 posts, read 2,204,257 times
Reputation: 11695
Quote:
Originally Posted by Jimrob1 View Post
The home is now under contract. Probably one of their many parishioners, from their many churches had first dibs. It was in the GA suburbs of Chattanooga, just 4 miles over. The cost. of housing noticeably drops by crossing into GA. The realtor specified that and was right. So maybe its for the best. It did look extremely churchy on the GA side. I'm not and I might have been out of place vs Chattanooga. Which has people from all over now.
Now you're just sounding like sour grapes.
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Old 10-06-2019, 09:44 AM
 
Location: DMV Area/NYC/Honolulu
13,302 posts, read 6,835,700 times
Reputation: 12942
Quote:
Originally Posted by SmartMoney View Post
It is definitely not personal, how could it be? Checking VA contracts not accepted can bring some serious blowback. Some on CD can be quite emotional when VA contracts are refused or declined just because they are VA offers. I imagine the deep south could take offense to a no service members' offers entertained and a seller could fear such a reaction.

(Not a slight to the deep south - I am in Viginia - in military territory, pretty darn close to Quantico and 20 minutes from the Pentagon...... I have witnessed how perceived nonsupporters of the military can catch grief)
I want to say that such grief is well deserved if the seller is rejecting/prejudiced against VA offers for the "wrong" reasons, but ultimately (as much as I hate many of the reasons given by those who frown down upon VA offers) veteran status isn't a protected class and sellers can do what they want to in that regard. All I can do is explain why VA offers aren't such a bad thing inherently.
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Old 10-06-2019, 09:52 AM
Status: "Hard Money Lender " (set 20 days ago)
 
287 posts, read 70,584 times
Reputation: 572
Quote:
Originally Posted by prospectheightsresident View Post
I want to say that such grief is well deserved if the seller is rejecting/prejudiced against VA offers for the "wrong" reasons, but ultimately (as much as I hate many of the reasons given by those who frown down upon VA offers) veteran status isn't a protected class and sellers can do what they want to in that regard. All I can do is explain why VA offers aren't such a bad thing inherently.
Smart sellers (or Landlords) simply decline an offer to purchase (or rental application) and never give a reason. Giving reasons for a declination creates problems that don’t need to be created. There is no requirement that a reason be given. As for VA loans, as a seller I don’t accept them as part of an offer due to the appraisal issues. I usually mark every listing of my own properties as CASH PREFERRED. Buyers are free to offer what ever they want but they should not be surprised if their non-cash offer is declined.

Have you checked YOUR social media posts? There are some sellers that will check social media on a buyer since it is so easy to do and then decline offers based on what they find. As I have mentioned on CD before, I have seen sellers decline Trumpers and anti-Vaxers in a competitive bid situation.
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Old 10-06-2019, 11:06 AM
 
Location: Lakeland, Florida
7,076 posts, read 12,701,243 times
Reputation: 8932
[quote=Spokaneinvestor;56344439]Smart sellers (or Landlords) simply decline an offer to purchase (or rental application) and never give a reason. Giving reasons for a declination creates problems that donít need to be created. There is no requirement that a reason be given. As for VA loans, as a seller I donít accept them as part of an offer due to the appraisal issues. I usually mark every listing of my own properties as CASH PREFERRED. Buyers are free to offer what ever they want but they should not be surprised if their non-cash offer is declined.

Have you checked YOUR social media posts? There are some sellers that will check social media on a buyer since it is so easy to do and then decline offers based on what they find. As I have mentioned on CD before, I have seen sellers decline Trumpers and anti-Vaxers in a competitive bid situa

My social media consists of nothing more than this CityData. I wouldn't be surprised though, if they do as you say check such things, What a world we live in
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Old 10-06-2019, 11:27 AM
 
Location: DMV Area/NYC/Honolulu
13,302 posts, read 6,835,700 times
Reputation: 12942
Quote:
Originally Posted by Spokaneinvestor View Post
Smart sellers (or Landlords) simply decline an offer to purchase (or rental application) and never give a reason. Giving reasons for a declination creates problems that donít need to be created. There is no requirement that a reason be given. As for VA loans, as a seller I donít accept them as part of an offer due to the appraisal issues. I usually mark every listing of my own properties as CASH PREFERRED. Buyers are free to offer what ever they want but they should not be surprised if their non-cash offer is declined.

Have you checked YOUR social media posts? There are some sellers that will check social media on a buyer since it is so easy to do and then decline offers based on what they find. As I have mentioned on CD before, I have seen sellers decline Trumpers and anti-Vaxers in a competitive bid situation.
What do you mean? In my experience, there have been no appraisal issues with VA loans. They aren't using special appraisers. I used a VA loan in Hawaii and my appraised at asking price. The same goes for all of my friends (a handful of us) who used VA loans in Hawaii.
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Old 10-06-2019, 11:30 AM
 
2,097 posts, read 2,367,479 times
Reputation: 2233
You will drive yourself crazy wondering. Maybe they had a cash buyer, someone offered over list price to seal the deal, etc.
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Old 10-06-2019, 11:35 AM
Status: "Hard Money Lender " (set 20 days ago)
 
287 posts, read 70,584 times
Reputation: 572
Quote:
Originally Posted by prospectheightsresident View Post
What do you mean? In my experience, there have been no appraisal issues with VA loans. They aren't using special appraisers. I used a VA loan in Hawaii and my appraised at asking price. The same goes for all of my friends (a handful of us) who used VA loans in Hawaii.
Two reasons. One the appraisal follows the house if the deal doesnít close and two, VA appraisals can require repairs which I donít want to get into usually. All my properties are sold as is where is and I typically do not do repairs or credits
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Old 10-06-2019, 11:46 AM
 
Location: DMV Area/NYC/Honolulu
13,302 posts, read 6,835,700 times
Reputation: 12942
Quote:
Originally Posted by Spokaneinvestor View Post
Two reasons. One the appraisal follows the house if the deal doesnít close and two, VA appraisals can require repairs which I donít want to get into usually. All my properties are sold as is where is and I typically do not do repairs or credits
Gotcha, thanks. Though the VA appraisals follow the home for a limit period of time (in most cases, 6 months before they expire), that still may be an inconvenience for some. Still, given that appraisers aren't using one standard for VA buyers vs. conventional buyers, I don't see this being a problem in the overwhelming majority of cases.

I can also see the second point, though they can't require that you do anything (you don't have to accept the conditions, though it could be a pain to have to go through all of that only to have to back out because you don't want to do repairs). Still, the repairs/home condition requirements to secure VA funding are actually pretty lenient: https://www.militaryvaloan.com/blog/...-requirements/ That said, the potential for extra work and headache seems to make sense for you to disregard VA loans.
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