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For one thing, Because this poster has repeatedly displayed in numerous posts their utter disdain for veterans.
Please.
Nothing to do with veterans. Everything to do with people who aren't serious enough to put money down on their biggest investment.
Something goes wrong? House does not appraise? Unforeseen closing expenses or costlydelays? Ms. 20% has the reserves. Worst case, that buyer reduces their down-payment by a few thousand. I can't be confident that ms. 0% down has anything to pay to get to the finish line.
If you have a bunch of contingencies and a low or no down-payment, you are more likely to be a tire kicker or playing games. Next.
Nothing to do with veterans. Everything to do with people who aren't serious enough to put money down on their biggest investment.
Something goes wrong? House does not appraise? Unforeseen closing expenses or costlydelays? Ms. 20% has the reserves. Worst case, that buyer reduces their down-payment by a few thousand. I can't be confident that ms. 0% down has anything to pay to get to the finish line.
If you have a bunch of contingencies and a low or no down-payment, you are more likely to be a tire kicker or playing games. Next.
I absolutely agree and I am a veteran who bought my first house using a va loan and I put down 20%. That was in 1987.
I’ve sold 11 homes in the last three years. I avoid VA/FHA loans if at all possible. Conventional with at least a 5% down payment are more likely to close smoothly. I would never accept an offer with a contingency that included having to sell an existing home. Most all my offers when buying are cash with a hefty escrow payment and I have never asked a seller to fix or repair anything. My offers are serious and I make that clear.
When selling you just develop a knack for knowing a good offer when you see it. If you are selling a top notch house that you know you’ve priced right you will get get good offers.
I absolutely agree and I am a veteran who bought my first house using a va loan and I put down 20%. That was in 1987.
I’ve sold 11 homes in the last three years. I avoid VA/FHA loans if at all possible. Conventional with at least a 5% down payment are more likely to close smoothly. I would never accept an offer with a contingency that included having to sell an existing home. Most all my offers when buying are cash with a hefty escrow payment and I have never asked a seller to fix or repair anything. My offers are serious and I make that clear.
When selling you just develop a knack for knowing a good offer when you see it. If you are selling a top notch house that you know you’ve priced right you will get get good offers.
Yep. You do this long enough, you can easily recognize the contenders from the time wasters. Sometimes the facts aren't what people like to hear.
Everything to do with people who aren't serious enough to put money down on their biggest investment.
Something goes wrong? House does not appraise? Unforeseen closing expenses or costlydelays? Ms. 20% has the reserves. Worst case, that buyer reduces their down-payment by a few thousand. I can't be confident that ms. 0% down has anything to pay to get to the finish line.
If you have a bunch of contingencies and a low or no down-payment, you are more likely to be a tire kicker or playing games. Next.
Low down payment is less serious? Tire kicker?
Are you saying that 5% down is more likely to back out of a deal?
Appraise? I think you meant 20% person RAISES their down payment?
Well I don’t deal with investors or flippers. I only deal with individual homeowners and homebuyers.
And really who gives a **** if someone can “truly afford” the house? If they can’t afford it, time will tell and that’s not my concern. My concern is the check at closing.
Our va buyer had an excellent lender. The transaction was a breeze really from start to finish.
I absolutely agree and I am a veteran who bought my first house using a va loan and I put down 20%. That was in 1987.
I’ve sold 11 homes in the last three years. I avoid VA/FHA loans if at all possible. Conventional with at least a 5% down payment are more likely to close smoothly. I would never accept an offer with a contingency that included having to sell an existing home. Most all my offers when buying are cash with a hefty escrow payment and I have never asked a seller to fix or repair anything. My offers are serious and I make that clear.
When selling you just develop a knack for knowing a good offer when you see it. If you are selling a top notch house that you know you’ve priced right you will get get good offers.
My buyer put down zero and the deal closed in a month. I didn’t have to worry about the “dreaded va appraisal” because my home was in excellent condition and the buyers inspector and the va found nothing wrong except for the addition of a patio stair railing that cost 300 bucks. In fact the buyer wanted the house so badly he offered to pay for it lol. I made several grand beyond other offers because the va buyer felt the need to sweeten the pot, probably because of the unnecessary negativity that’s shown here.
I'm just not going to argue this. We have two people complaining who sold maybe 3 houses total each. As an average overleveraged homeowner reviewing the offers of other average homeowners im sure whatever the buyers put down seemed fine.
As professional investors who have bought and sold close to 40 residential properties in the last decade, and been in business close to 20 years, we have developed our own metrics on what kind of offers appeal to us. Do we always have the luxury of multiples? No. But we have had ot often enough to be confident about what will win the bid. We have made mistake a few times and chosen those with nothing or scant down payments, and learned from those instances where loans did not close timely. We review and research everything and everyone in a transacyion...buyer, buyers agent, lender, etc. We have also worked with investors and second home buyers where you have to put at least 20% to even qualify for that sort of loan.
This is what works for us. Perhaps it seems too conservative for others. In which case, there are plenty of buyers who refuse or can't put much down that you are able to invite to your home sale. They won't win the bid in a multiple offer situation, and they won't stack up to the metrics many have posted, including ours.
I don't know why this offends anyone. Its working for us. We aren't nasty about not accepting offers with zero down. We don't counter with "your offer sucked!" We just counter with our terms. Again it also depends on the market. Sometimes you just have average to below average offers coming in. But if im ranking or sharing what I want to see, I have. Simple as that.
And always happy to remind everyone how smarter she is than the rest of us.
Word.
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