Insider Secrets Buying a Home  --Buying a Short Sale   or bank owned property

Gain some major insight from the latest Home-and-Seek Podcast brought to you by our CEO Eric Criner  



  Excited to announce we just relaunched our Free VA Buyers Course. 45 mins packed with all the information a Veteran needs to know to get home buying started.  Connect with us at and contact VREB for coruse link .  

  We get a lot of veterans asking us about bank owned properties and short sales.  I think its worth going over why they dot work well with VA loans.  Once the national moratorium on foreclosure is lifted there will be lot more of them in market  

Bank properties also called REO stands for Real Estate Owned typically by a lender.

Biggest problem with REO properties is condition.  Banks will normally sell as is and not do any repairs VA loans are compatible as they require Minimum Property Requirements (MPRS) to qualify.  Home has to be in an acceptable condition Roof, appliances, HVAC paint etc to use the VA loan. REO properties seldom are at that level.

Short sales are different.  Seller is selling their home Short of what they owe on home.  Lender has to approve the sale and typically home has lot of deferred maintenance and seller doesn’t have the funds to repair

Short sales are tricky and require an experienced agent and buyer is at mercy to some degree of the agent working with the seller.

Short sales can take 2-4 months easy to close and often have title issues or lender requirements that the bueyr and seller can’t satisfy. My recommendation is steer away from them if you fall in love with one make sure you have a very experienced agent 

Need a great agent that can navigate thru these types  of properties are help with any purchase or sale, contact

Our Veterans earn on average over $2000 after closing.  Our program provides Veteran Certified Agents and largest reward benefits in the industry.   Contact the veterans Real Estate benefits (VREB) program for top agent and great real estate experience.

Looking for information on using your VA loan or VA loan entitlements, contact VREB network and one of our veteran certified lenders will contact you for full discussion/analysis on your VA loan entitlements.

Check out VREB Network Google reviews as well and see the vast number of veterans who are excited about our program 




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Earn up to $7500 in membership rewards when you are active, retired or have previously served in the military. (Non-Veterans can earn a one year home warranty for a home sale that exceeds $250K. Veterans must join our free Veterans Real Estate Benefits Program. Restrictions apply and vary by state. Our Network Lenders and Agents pay a marketing fee to participate in program. VREB program benefit is only available with the purchase and/or sale of your home through the use of a program-introduced real estate agent. The actual amount you receive is based on the purchase and/or sale price of your home. The program award may be reduced in certain transactions with reduced agent commissions (including many new construction, For Sale by Owner). Your assigned agent can help you identify any transactions where the award would be reduced. All real estate commissions are negotiable. Other terms and conditions may apply. This is not a solicitation if you are already represented by a real estate broker. Program terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply and will be provided in your VREB Membership Agreement.
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