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Answers (5)
- Rudy Gallegos, "remaxrudy"
- Contributions:14
Thanks Connie for your helpful info. The listing agent for the property is David Judd. I was told I would never meet/speak with him and he would never visit the property, because he has so many listings. I am to only communicate with the tc.
Like you mentioned, this house is also near a military base and a lot of buyers in this area use VA loans. The termite work will probably be minimal considering the house is only 5 years old. My buyers would pay for it outside of escrow but the VA requires termite work to be written into the contract.
I really tried to stay away from showing any Altisource/Ocwen properties because of their horrible reputation but my clients really love this house.
Like you mentioned, this house is also near a military base and a lot of buyers in this area use VA loans. The termite work will probably be minimal considering the house is only 5 years old. My buyers would pay for it outside of escrow but the VA requires termite work to be written into the contract.
I really tried to stay away from showing any Altisource/Ocwen properties because of their horrible reputation but my clients really love this house.
- Glenn Thomas, "Glenn E. Thomas"
- Contributions:45
Tim Landwehr
Director of Asset Management, REO Sales
+1.770.612.7308
timothy.landwehr@altisource.com
- ConnieK_Oklahoma
- Contributions:2899
typically you only get 7 days inspection with Altisource, so you'll want to be prepared to back out if teh deal won't go. I don't really recccommend doing a VA with them. but if you are going to keep in contact with the listing agent and make sure they are in good contact with the Altisource/Ocwen asset manager.
- ConnieK_Oklahoma
- Contributions:2899
I list for altisource. I have been able to get my asset manager to issue work orders for repairs to the home to make it lendable for VA loans but had to do this outside of teh contract (before the contract was signed).
it's not an easy thing to do, they aren't willing to make repairs. In my example I made it clear to them that the house wasn't going to sell if no one could get a loan on it and it's proximity to the AFB meant the most likely buyer was going to have a VA loan. I got estimates of the repairs and they weren't significant- but that's a RARE case. talk to the listing agent for them. that is who it will take to get this done and they WON"T agree to it as part of the contract. they will often agree to seller concessions but VA requires those repairs done before closing so that's a huge risk to go that route. try to get those repairs done and as soon as they've agreed to do them...then work on making your offer.
otherwise....find a non REO house.
it's not an easy thing to do, they aren't willing to make repairs. In my example I made it clear to them that the house wasn't going to sell if no one could get a loan on it and it's proximity to the AFB meant the most likely buyer was going to have a VA loan. I got estimates of the repairs and they weren't significant- but that's a RARE case. talk to the listing agent for them. that is who it will take to get this done and they WON"T agree to it as part of the contract. they will often agree to seller concessions but VA requires those repairs done before closing so that's a huge risk to go that route. try to get those repairs done and as soon as they've agreed to do them...then work on making your offer.
otherwise....find a non REO house.
- Rudy Gallegos, "remaxrudy"
- Contributions:14
Also, VA buyers are not allowed to pay for termite work according to the VA guidlines.
Has anyone ever closed a VA deal with Altisource?
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