When you’re looking to reuse your VA home loan benefit to buy another home, you may be tempted to skip the real estate agent this time around.
Here’s some quick advice: Don’t go it alone.
Using a VA-friendly real estate agent comes with big benefits, especially if they’re part of Veterans United Realty, our national network of agents who really know VA loans and military buyers.
Let’s take a closer look at five reasons to use a Veterans United Realty agent for your next home purchase.
When you start to check out listings in your area, you’ll notice that each home has an agent attached to it. It’s a common misconception that homebuyers should use the listing agent to represent them during a home purchase.
The truth is that at the end of the day, listing agents work for the seller, and may have a hard time staying neutral if things go sideways during the course of your transaction. In fact, dual agency, as it’s known, is even prohibited in some states.
It’s a huge advantage for homebuyers to find a buyer’s agent to act as their advocate through the contract negotiation and loan closing process. Veterans United Realty agents are familiar with the VA loan process and the military community. They can help you find the right home and negotiate a contract that works for you.
Finding an agent who has worked with the VA loan program and military families is important, especially for buyers using their VA home loan for the second (or third, or fourth) time. For Veterans wanting to hold onto their current VA-backed property and buy again, a knowledgeable real estate agent can help you navigate your second-tier VA loan entitlement, working with your lender to ensure that you’re on the right track with your financing.
Agents who have experience with VA buyers understand the military community, which can make for a much smoother process. For families navigating a PCS-related home purchase, this is particularly important. It’s worth taking the time to find someone you can trust.
Aside from their understanding of the military lifestyle, Veterans United Realty agents know the ins and outs of VA property guidelines. If you make an offer on a home and later find out that it doesn’t hit the VA appraiser’s property benchmarks, you could be out the appraisal fee and ultimately on the lookout for another home.
A VUR agent can help you avoid that type of heartache and financial loss by steering you clear of properties that won’t fly with VA financing.
VA loan rules include provisions for non-allowable fees, and these include agent or broker commissions. In short, as a VA buyer, you’ll never pay for your agent’s commission fees. The fee your agent receives is typically paid by the seller.
If you’re looking at for-sale-by-owner (FSBO) properties, things can get a bit more complicated. Oftentimes, sellers list their home without an agent for the sake of saving on commission fees, allowing them to accept slightly lower offers on their property. If this is the case, they may be willing to negotiate to cover part of your closing costs.
Typically, an agent who knows the VA loan process will include stipulations for FSBO properties in your broker agreement. If you’re planning to consider FSBO properties in your home search, make a plan with your agent about how you’ll handle their commission.
Not only will you never pay a Veterans United Realty Agent’s commission fees, you could be eligible for perks at closing just for using a network agent. Rebates for Veterans United customers who close with Veterans United Realty agents are available in select states, and can be applied toward closing costs or rate reductions.
Some VA buyers prefer to go it alone when it comes to buying a house, but if you’re on the fence about using an agent this time around, there’s not much to lose by giving it a try.
Veterans United Realty can even help pair you with a knowledgeable, Veteran-friendly agent in your area.
A VA loan is a mortgage option issued by private lenders and partially backed, or guaranteed, by the Department of Veterans Affairs. Here we look at how VA loans work and what most borrowers don’t know about the program.
VA loans allow Veterans to have a co-borrower on the loan. Here we break down co-borrower requirements and provide common scenarios around co-borrowing and joint VA loans.