LandInvestors.com Forums **Ask A Question** Buyer with VA Loan?

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  • #8054

    Shaun Stevens
    Participant
    Post count: 11

    I have a buyer willing to pay full price and all closing costs for my property with a VA loan. My first instinct is to decline because of the fear that it could take months to close this deal. Anyone have experience or suggestions on dealing with a VA loan buyer? Am I better off declining the offer and possibly taking a little less from a cash buyer?

    Thanks,

    Shaun

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  • Nat Bruno
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    Post count: 72
    Pro

    So he isn’t approved for a loan? Or is he?

    IF he is approved, why not sell it?

    Rex Malson
    Participant
    Post count: 13

    Hi Shaun,

    My son is a retired Veteran and he just contacted the VA for a loan on a land parcel here in Ohio and was informed the VA no longer does land loans. He is planning on selling his current home and wanted to purchase a 25 acre parcel here in Ohio and build a log cabin on it. He was told by the VA the only way he could do it was to first purchase the land and the log cabin (or kit) and then once everything was in place they would be willing to have it appraised after completion and could possibly finance it as a completed loan only after completion. Proceed with caution and please let me know what you discover and hope this helps!

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