Reply to VA Loan from a Seller's viewpoint

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Reply to "VA Loan from a Seller's viewpoint"

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[quote=Anonymous]Funny you should ask.  We just went through this with our home in Arlington.

We had two offers within 48 or so hours.

Offer 1:
$15,000 earnest
Offer was $7,000 above asking
VA loan. Firm on this.

Offer 2:
$7,500 earnest
Offer $1,000 above asking
VA loan, BUT if this fell through they were willing to go "conventional."  They were also going to put down 20% if they went conventional which means that they have some cash.

We took the 2nd offer because our realtor was worried that the VA appraiser would appraise low.  We are in S. Arlington and nothing in our neighborhood has gone above $675,000 except for new builds in a long time.

It turns out (we found out today) that the house appraised for $750K (selling price).  The buyers are beyond thrilled (Afghanistan War Vet and his wife), we are thrilled for them, and we are also breathing a huge sigh of relief.

Granted, we paid 815K for the house in 2005 and put about 80K into it so while we are glad for the quick sale, etc. it's still bittersweet.

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