VA Loans - and My Dilemma

[rogue06]

WOW! It just got better.

As you may recall, the contract from the VA client (buyer) was for full sale price, with the caveat, of course, that the actual sale price could not be more than the VA's appraisal.
We wanted to know, prior to entering into a contract, whether our sale price was even 'in the ballpark', so we paid for our own appraisal end of last year.
Our appraisal came in at Sale Price MINUS $14,900. We were prepared that we might have to come down that much.

If the VA appraisal came in LESS than our appraisal, we could offer our appraisal as justification for them to reconsider.

HOWEVER -- VA appraisal actually came in at Sale Price PLUS $2,210!!!!!

That means the buyer gets to relish the fact that they are paying LESS than appraisal price, while we get to maintain the "FULL sale price".

Win/Win/Win!!!!!

Congrats

[Sparko]

hmmm since the deal was they would only pay the VA appraisal price, it should work both ways. They should have had to pay the EXTRA amount since it came in higher.

[Carrikature]

hmmm since the deal was they would only pay the VA appraisal price, it should work both ways. They should have had to pay the EXTRA amount since it came in higher.

As my boss used to say: pigs get fat; hogs get slaughtered.






It only makes sense if you don't know anything about pigs, but the concept is clear enough.

[Sparko]

As my boss used to say: pigs get fat; hogs get slaughtered.






It only makes sense if you don't know anything about pigs, but the concept is clear enough.

What about pirates?

[Cow Poke]

OK, I'm beginning to regret the decision to go with the sale of the property to the Vet.

Not HIS fault, at all... I've met him several times, and his family, and they seem like GREAT people. They're just as frustrated with this process as we are.

The problem is the VA Inspector is proving she can be a typical !$#!%^!^! controlling heartless papershuffling jackwagon bureaucrat. After NUMEROUS times giving the signal that we'll have a "clear to close", and us actually scheduling a closing date, she comes up with "one more thing" at the last moment.

It was a termite inspection. Did that. Evidence of a "many years ago" infestation in one specific area of an outbuilding was reported with "no active infestation noted". She notified us no treatment necessary.
Then, just inside the "36 hour window" prior to closing, she demanded that entire outbuilding be treated for termites - at a cost of over $800.
It was pointed out that this was not required by VA regs, and suggested that she may have possibly gotten this confused with the carpenter bee problem which HAD been remedied.
We proved we had the carpenter bee problem resolved, and she agreed the termite treatment was not necessary.

I'm wondering if that made her mad, because she then insisted that we have a septic inspection. (we already had one, and it passed) She refused to back down, so the very same guy came out and did the very same inspection and filed the very same "passing" report, and we have a "go" again.

Then the latest kerfluffle is that she wants the water well tested, EVEN THOUGH it was clearly pointed out that "city water" (such as it is) provides the house and living quarters, and the water well is only for irrigation and animals. Initially she approved this, we set ANOTHER closing date for this coming Monday, but now she wants the water tested regardless, and we're already in the "36 hour window" prior to closing, which means closing can't happen on Monday.

[Cow Poke]

It's actually beginning to feel like in the movies where somebody stops by her office and lays an envelope of cash on her desk and walks away, and suddenly there's a "green light".

I'm pretty hacked.

[Sparko]

It's actually beginning to feel like in the movies where somebody stops by her office and lays an envelope of cash on her desk and walks away, and suddenly there's a "green light".

I'm pretty hacked.

This is where the vet needs to have a talk with her and demand she step back. She is supposedly "looking out" for the buyer. Well the buyer needs to tell her that they are fine with the property as is, and she needs to stop interfering.

[Cow Poke]

This is where the vet needs to have a talk with her and demand she step back. She is supposedly "looking out" for the buyer. Well the buyer needs to tell her that they are fine with the property as is, and she needs to stop interfering.

Yeah, when we reached that point where we told our agent to move on to the next buyer, they hit panic mode, and pulled her back. That needs to happen again, because we allowed them to move in on a rental agreement to closing. I'm beginning to regret that, cause we're stuck now.

Oh, and apparently, UNBEKNOWNST TO ANY OF US, the VA inspector's father had a heart attack a few days ago, and we're being "insensitive" to her needs"

[Sparko]

Yeah, when we reached that point where we told our agent to move on to the next buyer, they hit panic mode, and pulled her back. That needs to happen again, because we allowed them to move in on a rental agreement to closing. I'm beginning to regret that, cause we're stuck now.

Oh, and apparently, UNBEKNOWNST TO ANY OF US, the VA inspector's father had a heart attack a few days ago, and we're being "insensitive" to her needs"

Tell her to let the deal go through so she has more time to spend with her family.

[Cow Poke]

Tell her to let the deal go through so she has more time to spend with her family.

Unfortunately, we don't have direct contact with her - she works with the lender's underwriter, and we only get information second and third hand.

[Raphael]

Oh, and apparently, UNBEKNOWNST TO ANY OF US, the VA inspector's father had a heart attack a few days ago, and we're being "insensitive" to her needs"

She's meant to be a professional isn't she? If she finds herself unable to continue the work because of personal reasons, she is should hand it over to a colleague to close out while she deals with her personal issue. (and while tragic and sad, in the professional world the death of someone's family member is a personal issue)

[DesertBerean]

Either of you need to contact whoever is in of her if you wanna get this over with.

[Cow Poke]

She's meant to be a professional isn't she? If she finds herself unable to continue the work because of personal reasons, she is should hand it over to a colleague to close out while she deals with her personal issue.

Yes, that's the professional way to handle it, and everybody would have understood.

(and while tragic and sad, in the professional world the death of someone's family member is a personal issue)

Which, if we had known anything about it, would have certainly been a consideration.

[Cow Poke]

OK, the thot plickens once more.

The buyer found out, somehow, that the 'heart attack story' was bogus. The buyer has filed an official complaint with the VA concerning the handling of this transaction by the VA appraiser. There is ZERO reason that a "clear to close" should not be issued, and the well water testing is complete nonsense. The buyer states that the VA was quite unhappy with the way this transaction has been handled so far -- including "lost paperwork", duplicate demands for inspections, demands for services not required at all by the VA....

There's a possibility that the VA appraiser's boss is going to intervene and issue the "clear to close", and allow us to close on Monday, as planned. (this would be the third closing date - two priors were missed by last minute "one more thing" events)

[Raphael]

OK, the thot plickens once more.

The buyer found out, somehow, that the 'heart attack story' was bogus. The buyer has filed an official complaint with the VA concerning the handling of this transaction by the VA appraiser. There is ZERO reason that a "clear to close" should not be issued, and the well water testing is complete nonsense. The buyer states that the VA was quite unhappy with the way this transaction has been handled so far -- including "lost paperwork", duplicate demands for inspections, demands for services not required at all by the VA....

There's a possibility that the VA appraiser's boss is going to intervene and issue the "clear to close", and allow us to close on Monday, as planned. (this would be the third closing date - two priors were missed by last minute "one more thing" events)

so the "professional" was telling porkies?

I think the VA is not going to be very happy with her......