5 Tips to Get Your VA Purchase Offer Accepted

The incredible benefits offered by VA loans come with a few unique guidelines. Guidelines that can, logically or not, make sellers hesitant to accept VA offers.

But experienced military-friendly agents have learned a thing or two about working with VA buyers — and the crucial VA loan advantages. From their knowledge, we’ve put together five tips to get your next VA purchase offer accepted.

1. Don't pick a home in poor condition

VA loans are not designed to finance fixer-uppers. All homes financed by VA loans must be move-in ready and in line with the VA’s Minimum Property Requirements (MPRs).

Although rooted in good intentions, MPRs can make sellers nervous. Some sellers (and sellers’ agents) are wary of VA loan requirements, particularly when marketing a home in need of renovation. Out of fear that a home won’t live up to VA standards and a deal will fall through, some sellers bypass VA purchase offers altogether.

Aim to look at homes in good condition, and make sure you have a good understanding of the VA's MPRs and appraisal guidelines.

2. Be cautious with distressed properties

Buying a foreclosure or short sale with VA financing can be extremely challenging. Most banks want to sell properties “as is” and have no patience for VA-ordered repairs.

But exceptions are certainly out there. Some distressed properties are impeccably maintained and won’t need a single repair. And some markets are so flush with distressed properties that buyers have limited options.

Simply use caution, and be aware that buying a distressed property with VA financing could be a bit of a process. Here are some tips for buying a distressed property with a VA loan to get you started.

3. Understand the current market and expectations

Every market, home and offer is unique, but every real estate deal shares this characteristic: a seller can only be pushed so far.

Just as you would for a conventional offer, use your knowledge of the market to make your VA offer competitive and attractive. Are those cosmetic repairs really necessary? Is the closing timeline reasonable?

Consult with your lender to determine if the seller needs to cover all closing costs, or if your buyer is able to cover some or all of them.

4. Use military and VA resources

VA loans are unique. Once you’ve worked with a few military buyers, you’ll become more experienced.

Until you’ve reached that comfort level, seek out educational opportunities like the Did You Serve? Agent Certification and talk to other military-friendly agents in your area. Discover what works for your market, and incorporate that knowledge into your future VA loan purchase offers.

5. Include a preapproval letter

There’s one thing that makes jumpy sellers even more nervous: an offer WITHOUT a preapproval letter.

Make sure that your buyers are preapproved, and always include a VA loan preapproval letter with your purchase offers. If your buyers aren't sure where to start, they can get a quote online. With our AgentDash App you can even generate your buyer's preapproval from your mobile phone while you are out touring properties or writing offers.

Help Educate About VA Loans

The VA loan process, once cumbersome and disorganized, has undergone dramatic changes in recent years. Those streamlining efforts have made VA loans simpler and easier to process than ever before.

But not everyone is aware of the VA loan's makeover.

As agents, we can all take time to educate our buyers and sellers about the VA loan program. Start by asking every buyer, "Did you serve?" It can open up the door to educating them on benefits they may not be aware of. You can also read more articles on the blog for VA loan tips and advice.

Work with a VA-approved lender who can answer all your VA funding questions. Share your knowledge with clients and fellow agents!

Questions about the VA loan process or becoming a VA-knowledgeable agent? Comment below or speak with a Veterans United VA Loan Expert anytime at 855-870-8845.