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Permalink Reply by Tara Samney on October 3, 2012 at 3:50pm

Yes.  Was not fun depending on what negotiator you get.  First VA will require 88.13% net of their appraised value.  They do not allow it to be contested.  Second Chase negotiators are inexperienced on VA.  I had to fight one forever b/c in order to get the min net I had to cut my commission.  Chase wouldn't accept it as they stated over and over VA wouldn't take less than the appraised value which is simply not true.  I got the borrower's VA rep involved and went to escalation who told me they thought the same thing but it was up to the negotiator.  IWhile other investors have such requirements the VA doesn't.  they finally issued an approval letter at the lower contract price (and netting them $60 more than their number).  It was a battle though.  If you get an offer right at their appraised price you will be good. 

Permalink Reply by Kelly W. Maynard on October 3, 2012 at 4:05pm

Thank you Tara for your reply.  This helps me to plan accordingly.