Is anyone familiar with the VA’s Vendee program on their REO’s??? I talked to a processer at BOA whose handeling this for the VA it really sounds like a awesome deal!!!
I have done a couple. What is your question?
Dave T
I have purchased a REO before using cash which I never will do again. Too much of a risk using your own capital. I’m learning other ways to invest without having to use my money. My question is if the VA has the property listed for say $40.000, can your offer be lower even if you are trying to obtain vendee financing?
In my limited experience, the VA is not very flexible when considering less than full price offers. I have never had an offer accepted for more than an 8% discount to the list price.
I don’t know what the VA will accept in today’s marketplace, but since you have to use a VA approved real estate agent to make your offer, perhaps the agent you use will have more insight into the process.