Beerlight 0 #76 March 11, 2005 Quote Definitely use an attorney- the contract should have an attorney approval period. And also, the VA inspection really isn't the same as a home inspection. A good home inspector checks for more than the VA inspector will. The VA inspector has a checklist, and they'll look at some really nit picky stuff but overlook some obvious things as well. Really-who cares if your handrails are secure and all your electrical outlets are covered properly if you have toxic mold in your bathroom? I totally agree with you. And the VA is looking out for the VA and not for the homebuyer! Pay the extra bucks for a good inspection and the lawyer Ron.....!! Quote Share this post Link to post Share on other sites
tigra 0 #77 March 11, 2005 Quote My only real hope is that he knows my VA backed loan will go through since this house was under contract and the financing fell through. That's big, and should make your offer more attractive, BUT government insured loans- VA and FHA can also take longer to process and approve, and they tend to make the seller jump through more hoops. (Nit picky appraisal and inspection issues, and certain costs which VA dictates MUST be paid by the seller.) You're a better buyer than someone who isn't preapproved at all, even if they offered more money, and you are a better buyer than someone who has to sell their house before they can close. But, someone preapproved for a conventional loan has an advantage over you, as would someone paying cash. Good luck! I spent a long time looking and submitted a few offers before I found my place. (I went conventional 80% 1st mtg, 10% second, 10% down and the value has increased over 30% in less than 2 years.) If this one doesn't work out, just keep looking. Quote Share this post Link to post Share on other sites
Beerlight 0 #78 March 11, 2005 Quote Quote Your mortgage company will need your veterans (I forget the document #), that will eliminate the VA origination fee. Got it thanks. Quote And on those home repairs, have that written into the contract! and they might repair them instead of yourself!! Ask for them to pay closing, ask for the freakin moon... Read everything. Yeah the house owner will not fix the issues. That was quite clear that he bought this house as an investment. He was asking 96k for it, so I offered 93k. I think I have almost no chance since there was another offer made the day before....Any rate I will know tonight. I figure for 3 grand I can get some skydivers, paint and beer and get the inside rooms painted. I have a friend that told me whould get carpet and have it in in less than 4 hours and it would not cost much at all. The dishwasher....Well it will take longer, but Ialways have Joy and my two hands till I get that done... Of course all of this is mute if he rejects my offer...Which could very well happen in this houseing market... Im tellin ya, I have seen houses gone in 2 days. My only real hope is that he knows my VA backed loan will go through since this house was under contract and the financing fell through. I'm offering 3 to 4% lower than the asking price. Our home cost around Houston (at least the ones I'm looking at) are on a decline. I'm seeing homes here on the market for almost a year. Good luck.... Quote Share this post Link to post Share on other sites
