I have been working with the same VA buyers for six months. They are qualified, they have their VA certificate, they are willing to put money towards closings costs, and I cannot get them a home.It's not that I have never sold a VA buyer a home, I have never sold one when we had to compete for the home. The onIy deals I closed for VA buyers were homes that no one else wanted in other words, no competition, seller's only offer!I educate my buyers, I prepare them for the market, I tell them how to be competitive, and then I write winning offers. But with VA buyers the odds are stacked against me. Even if I offer more to compensate for the buyers lack of closing costs and VA non-allowables, I have to worry about jeopardizing the appraisal. AND It doesn't help that there is a shortage of REO homes to sale in the first place!I have been told by more than one listing agent that there is an order in which the banks consider offers that goes like this:1. All Cash above list price.2. All Cash at list price.3. Conventional Loan4. FHA5. VAI tell my buyers, it's nothing personal, it's a bank, they have no personal attachment to the home. They just care about the bottom net amount. Yes, with a VA loan even if the buyers are willing to put money towards the closing costs...there are still those non-allowables and that can be a deal breaker.Talk about deal breaker, I recently got an accepted offer (cash) only because my buyer said he would pay the termite. The other cash buyer lost the deal by $75.In the meanwhile, my buyers are discouraged and have stopped looking. They are going to save their money and go for a conventional loan.
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