Yesterday I had the opportunity to hangout with Sarah Hill Social Media Strategist for the Veterans United Network. Sarah as well as team members of Veterans United Home Loans and a few Realtors® nationwide were sharing our experiences and thoughts on VA home loans and how best to help buyers using VA loans get past some of the objections they sometimes encounter from sellers.
In Prince William County VA home loans to date in 2012 have made up 19% of the loans used for home purchases (per the MLS). In a competitive marketplace making your offer attractive to a seller is important. The issue isn’t usually the loan you are using but the total package you are presenting. Inventory is low and popular price points are competitive giving sellers a slight advantage when it comes to reviewing offers.
How do you make your VA offer competitive? A few simple tips. The most important step is to make sure you have provided your lender as many of the documents required to get your loan ready as possible. The more solid your lender letter the better. Don’t write a low ball offer. Look carefully at the comps for the neighborhood and make sure you offer falls within the range of reasonable and customary. Make your inspection and appraisal dates as tight as possible. Respond quickly to all request from your lender for information and finally work with a Realtor® who understands VA loans.
You can watch the Veterans United Hangout below and if you are interested in learning more about how to use your VA loan to purchase a home in Northern Virginia give me a call at 703-346-2213.