+1 vote
Hi, I'm in the process of selling my house and someone has made an offer on it using a VA loan. Apparently 4 years ago when my in-laws sold their home, if someone was coming in with a VA loan, they had to take the price the the house was listed at, and then the seller would pay the closing costs. In other words they weren't allowed to make an offer. Is this still the case?
asked Aug 30, 2017 in Conventional Loans by Gerald Lloyd

2 Answers

+1 vote
As the seller, you don't have to pay the closing costs on the VA loan. That might have been part of the deal on that transaction, but it's not necessary. Also, the VA home buyer can make a higher offer if they're qualified for it. There are no VA rules saying they can't offer over list price. You just have to make sure the VA appraisal will come in at the higher price. That would be the only potential issue.
answered Aug 30, 2017 by Your Loan Guy (140 points)
0 votes
That is not correct. You as the seller can ask whatever price. Its up to you whether or not to give buyers a sellers concessions. Department of Veteran Affairs allows sellers to give up to 4% in sellers concessions to buyers.

Gustan Cho NMLS 873293
The Gustan Cho Team at USA MORTGAGE
answered Feb 11, 2018 by GustanCho (106,540 points)

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