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VA Repo Homes
Another type of government repo homes which attract buyer interest are the VA foreclosures. These are properties whose homeowners who are in the military and with mortgages secured by the Department of Veteran Affairs. In case of mortgage default, the lender is reimbursed for the cost of the loan and VA takes ownership of the property. To recover the government's losses, these houses are sold as VA Repo Homes.
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Advantages of Buying VA Repo Homes
Just like HUD repo homes, these repo properties are also more affordable than other existing homes for sale. Other reasons buyers prefer VA homes include:
- Buyers need not be a military personnel or a veteran.
- Both owner occupants and investors can make a purchase.
- Available financing options, such as the VA Vendee Financing program, which requires as little as 5 percent down payment for investors and no down payment for owner occupants, no appraisal fees and low interest rates for fixed mortgage products.
- Properties are sold at discounted prices.
How to Find and Buy VA Repo Homes
If you would like to take advantage of the savings and great return potentials offered by VA repo properties, you should consider subscribing to the foreclosure listings services offered by Repo-Homes.com. With the complete, accurate and updated information provided on VA repo houses sold all over the nation, you can easily find the perfect repo property which suits your needs and budget.
To buy a VA repo home, you will have to be represented by a VA-accredited real estate agent, who will submit your sealed bid. A confirmatory email or letter will be sent to you once your offer has been received. If your bid is accepted, the department will contact the real estate agent and you will simply have to negotiate the closing details.
Investing in VA repo homes is certainly worthwhile, especially if you consider the numerous profitable possibilities they offer. These houses are not only perfect for expanding your real estate portfolio, but they are also ideal if you looking for a second or vacation home, rental property or house for flipping.
In any case, you can depend on Repo-Homes.com to provide you with the best deals on VA repo homes!
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