Colorado Springs Vintage Homes Blog

What is a VA Repo?

VA Repos in Colorado Springs

Related Article:  What makes buying a foreclosure different?

Search for Foreclosed Home in Colorado Springs

There are many different types of foreclosed homes in Colorado Springs, as well as the rest of the US, that hit the market, including VA repos.  These are the result of foreclosed homes that were financed with a VA loans.  Currently these homes are marketed for sale through Bank America Homes Loans.

The properties are typically listed in the MLS, but they can also be viewed on www.reotrans.com and on www.homesales.gov and www.va.reotrans.com

Here’s some basic facts about VA repos.

• Buyers must use a Real Estate agent to submit their offer.
• VA provides addendums which outline their policies
• VA properties are always sold “as-is”
• VA does not include an inspection period in their offers.  If a buyer is interested, they should do the inspection before they put in their offer.
• It is possible to use VA financing to buy a VA Repo.
• You don’t need to be a veteran to buy a VA Repo.
• VA does have Vendee Financing to assist with the purchasing of VA repos; which is available to veterans and non-veterans.
• There is also no financing contingencies when buying a VA repo.
• Closing time is typically 30 to 45 days.

• Don’t let your dream house become a nightmare
• Pre-Qualification or Pre-Approval, which do you need to buy a home?
• Homes in Colorado Springs, 5 things to know about buying foreclosures
• 8 biggest mistakes made by Colorado Springs home buyers
• Buying HUD homes in Colorado Springs, Part I
• Buying HUD homes in Colorado Springs, Part II
• Colorado Springs HUD Homes – Part III in FAQ’s
• HUD homes available for $100.00 downpayment
• Buying a short sale vs. a foreclosure, what’s the difference?
• Abandoned pets are foreclosure victims
• 7 reasons to buy a HUD home in Colorado Springs
• Rules are Rules for Title Seasoning
• The Million Dollar Question

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Kathy (719-287-1049)   KTorline@msn.com

Tags: Colorado Springs MLS, foreclosed homes financed with VA, Foreclosed homes in Colorado Springs, VA loans, VA repos, vendee financing

This entry was posted on Wednesday, January 20th, 2010 at 9:00 am and is filed under For Buyers, Foreclosures and Short Sales. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Puppy Lessons said at December 25th, 2011 at 7:39 am

   Puppy Lessons…

   [...]The facts about buying a VA Repo Home | Colorado Springs Vintage Homes Blog[...]…

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