Top 10 List on How to Get an Edge Up For VA Buyers Here in Temecula & Murrieta CA

For all you VA Buyers here in Temecula & Murrieta CA

My Top 10 List on How to to get an edge up to Buy a Home using your VA Loan



Temecula and Murrieta are beautiful places to live with affordable home prices, many great amenities and so close to Military bases. Here is some info on Temecula in case you are unfamiliar or new to the area.
I realize that for many VA's it has been a struggle to get a home here in Temecula and Murrieta. This is due to a couple of reasons the main reason is that this is such a competitive market and the other reason is how you are presenting your offers. I hear some discouragement and frustration from some VA buyers so I thought it was worthy of presenting you with some ideas to help you along even if I am not your Realtor.
 
I have had several VA's accepted offers in the past couple of weeks so I know it can be done. I thought I would share with you some ideas to help you improve your position in this crazy market.


1.). If bidding on a bank owned....I do my research on bank owned agents and see if they accept highest and best  which includes FHA and VA buyers.  I try to show properties that have a better chance for VA loans getting accepted by the banks owned agents. This gives me a better approach and what your realistic chances are for a VA home buyers.

2.). Go after the standard sales, especially what we call flippers. A flipper is an investor who has purchased home from bank, perhaps fixes it up a bit and then resales quickly. Most flipper homes cannot go FHA due to a 90 day flip rule (meaning FHA will not allow buyers to buy home within a 90 day period of last sale). This eliminates all FHA buyers from purchasing these homes and generally investors do not like them because the flipper wants a price that is generally at the top edge of comps.(comps are what similar homes have recently sold for). Here in Temecula and Murrieta we currently have a lot of flippers.This are great for VA buyer to bid on and with much of your competition not in running puts you in a better position.

3.) If going after a standard sale by a home owner, do not ask for closing cost. They do not like to pay them. Most will consider VA if it does not cost them too much extra.

4.) Go after short sales. They are not my favorite because of the time and no guarantee(a subject for later). I do like them for the reason that you may get a better deal then the bank owned and standard sales and most will accept a VA. So here is my approach..I often place backup offers on homes that have been on the market a while. You will be amazed at the amount of buyers that walk away leaving you in a great position to purchase that home. Yes, you must have your patient hat on but could very well be worth the wait.

5.)If not dealing with a bank or a flipper, write a personalized letter, letting them know about you and your family. Explain why you love their home. Sometimes it works, sometimes it doesn't but dot your i's and cross your t's to put you in best position. It personalizes and humanizes you in a way that they may feel more connected to you. People always like to hear when someone likes their home and many want someone that will be moving in to have that same love for their home as they do.

6.)IF you are asking for closing cost, make sure that the amount you are asking for includes for the non-allowables. This puts you in the same position with others asking for closing cost. Usually the biggest disadvantage is that they have to pay addition non-allowable fees for VA loans. This puts you on the same playing field with those others asking for closing cost. Of course the better position is to not ask for closing cost but not everyone is in that position so present it in the best way you can if you must ask.

7.) Here in Temecula and Murrieta, it is a very competitive market. Do NOT just look at listing price, you must look at comparative recently sold homes to make sure you are offering a competitive price. Forget about list price and offer fair market value,This is a must!

8.)If you FICO scores are good, summit them even if they don't ask. It lets them see that you are financially responsible. That is always great for them to know. If FICIO scores not so good, only submit when they insist. As a VA you must present yourself in the best light and good FICO's are a factor worth presenting. They don't want to run into loan issues down the road.

9.)Get you loan lined up with your lender so you can remove contingencies in 10 days instead of 17 days or more. They do not want to get into escrow and find out you cannot qualify 3 weeks down the road. 10 days is much more enticing to many and will also allow you to close faster.

10.)Be patient, it will make for a more pleasant experience. Know up front that as a VA this may be a little more challenging and this may take a little more time but the end result will be worth it.

There it is and I hope this helps. If you need my assistance, I am here. I work with an associate so that we can give you the best attention possible. I find in this crazy market 2 Realtors are better than 1 in this crazy market to give you the best service.