Purchasing VA Acquired Homes

Each property listed by the VA will have one of the four following codes:
 
Code "A" 
Homes with an "A" code are typically the better properties in the inventory.  The "A" signifies that these properties are eligible for any type of financing.  This includes an FHA 203(b), VA guaranteed financing for veterans, conventional financing, VA vendee financing (for veteran and non-veteran owner occupant buyers), and  all cash buyers.
 
Code "C" 
Only all cash buyers are allowed to purchase these properties.  VA will not accept any type of financing on a property coded "C".  Furthermore, a buyer must close on the sale within 30 days of the approval of the bid.
 
Code "T" 
Properties with this code are available for purchase with only two financing options: 1) VA vendee financing or 2) all cash.  The VA will not accept any other financing on a home with this code.  Closing must occur within 22 days of approval for buyers with VA vendee financing or 30 days for all cash buyers. 
 
Code "X" 
These properties are eligible for the following financing types only: 1) FHA 203(k), 2) VA vendee financing, 3) Conventional "As-Is" financing, or 4) all cash.  These properties do not, however, qualify for VA guaranteed financing or FHA 203(b) loans. 
 
As mentioned before, VA acquired homes do not include any warranties.  Furthermore, it is important to note that lead based paint and/or asbestos may be present in some properties.
However, VA grants a 10 day period to the buyer to inspect for lead-based paint and other hazards.  It is the responsibility of the buyer to pay for the certified home inspector (though not required).

Home Page | Search Foreclosures | Buyers | Sellers | Financing | Log In / New Sign Up | About Us | About Atlanta Georgia | Blog | Real Estate Facts | Search HUD Homes | FREE Email Updates | Home Buying and Selling Tips | How a Real Estate Professional Can Assist You in Selling Your Property | What is Your Home Worth | Sellers Request | How To Buy Foreclosures | About VA Homes | What Is a VA Home | Purchasing a VA home | How To Finance a VA Home | How To Make an Offer on a VA Home | About HUD Homes | What Is a HUD Home | Who Can Buy a HUD Home | How To Find a HUD Home | Purchasing a HUD Home | Closing on a HUD Home | Contact Us | Officer Next Door Loan Program | Teacher Next Door Loan Program | How to Apply for a Loan | Loan Application Timeline | Lender Expectations | Overcoming Qualifying Hurdles | Items Needed for a Loan Application | Real Estate Loans and Mortgage Programs | 30 Year Home Loans | 15 Year Home Loans | FHA Home Loans | VA Home Loans | Adjustable Rate Home Loans (ARM) | Non-conforming Home Loans | Introduction to Qualifying | Credit Analysis | Employment Requirements for a Home Loan | Down Payment Guidelines | How To Qualify For a Loan | Want To Receive Aprox. $8,000 Cash For Buying a Home? | Qualifications You Will Need to Purchase a Home | Why Own? The Pros and Cons to Homeownership | The Myths of Homeownership | The Risks of Homeownership | How Much Can You Afford to Spend on a Home | Credit and Homeownership | Establishing, Maintaining and Protecting Your Credit | Credit Scores | Selecting The Loan and The Lender | Mortgage Worksheet | Mortgage Rates | Fixed or Adjustable | 15-, 20- or 30- Year? | Down Payments and Closing Costs | Finding The Right House | Establish Criteria | Criteria Check List For Home and Neighborhood | Choosing a Neighborhood | Looking At Homes | Compare Homes | Setting Yourself Up for Success | The Buying Process | Finding a Lender | Advantages of Pre-Approval | What Lenders Evaluate | How To Avoid Predatory Lending | Making An Offer | Finding a Real Estate Company | Negotiate a Sales Price | Make an Offer in Writing | Applying For a Mortgage | Steps in the Loan Process | After You Apply | Closing on a Home | Hire a Professional Home Inspector | Attend the Closing Meeting | Getting Home Insurance | Moving | Do It Yourself Moving | Using Professional Movers | Real Estate And Mortgage Glossary | Real Estate Mortgage Calculator | Real Estate Tax Info | All Around Atlanta Links | Atlanta Tourism And Travel | Just For Kids | Community Info | School Information | Weather Information | Testimonials | Guestbook | Buyers Request | Mortgage Basics | Balloon/Reset Mortgages | About Bank REO's | Atlanta Lifestyle | Atlanta Demographics | School Lists, Facts and Links | Bartow County Public School Data | Cherokee County Public School Data | Cobb County Public School Data | Dawson County Public School Data | DeKalb County Public School Data | Douglas County Public School Data | Forsyth County Public School Data | Atlanta City Public School Data | Fulton County Public School Data | Gwinnett County Public School Data | Hall County Public School Data | Lumpkin County Public School Data | Paulding County Public School Data | Pickens County Public School Data | Atlanta Private School Lists | Atlanta Business | google87bda845bbc587f3.html | On Board Navigator | Disclosure Statement | Property Search (Georgia AoR - Acreage) | Property Search (Georgia AoR - Commercial Lease) | Property Search (Georgia AoR - Condo) | Property Search (Georgia AoR - Commercial) | Property Search (Georgia AoR - Land) | Property Search (Georgia AoR - Multi-Family) | Property Search (Georgia AoR - Residential) | Property Search (Georgia AoR - Rental)
Site Map | E-Mail

Logo
Chafin Realty Inc
5230 Bellewood Court Suite A • Buford, GA 30518
Direct Phone: 770-666-7062 • Main Office (770)831-0844 ext 107




Lawrenceville