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Updated almost 11 years ago on . Most recent reply

Account Closed
  • Portsmouth, VA
3
Votes |
43
Posts

How much would you put in a VA Repo?

Account Closed
  • Portsmouth, VA
Posted

Hello,

I've recently put in an offer for a VA Repo that's $14k above the asking price give or take using a VA loan. It was priced at $61k taking final offers today and I put in $75k competing with around 10 people who had already seen it. It's 1200sq ft (probably more because it certainly didn't feel like 1200 sq ft when we looked around) sold as-is with special warranty deed and on the surface there are very little cosmectic problems with the house except for the carpet and walls and one moisture damaged window. I'm curious as to how much flippers would normally put on a VA Repo like this? (I however, will not be flipping this because of my VA Loan. My wife and I will be staying on this property relying on the low mortgage to save up some money and this will be our first property if we do get it.)

Based on your experiences, does using a VA loan bring me at a disadvantage or is that something they prefer?

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