Westminster, CO - How many times have you placed a property, mostly condo / townhouses, on the market without checking whether or not it is an approved complex by FHA or VA?
It really is easy to do, if you are not paying attention to the approval lists, and NOT taking one step further to ensure they are approved. Remember, those lists can change, they are NOT set in stone for long terms!!
We have recently come across a complex that DOES show it on the VA list, as an approved complex. But, is it really approved? One buyer discovered that it may not be.
Contacting VA, may still not accomplish the task! I have viewed over 600 SOLDs in that complex over the last 36 months... NONE sold VA, but all were either Conv or Cash transactions. With cash being about 60%!!
After, a few emails to the local VA office here in Denver, the buyer was informed that this complex, Windsor Gardens, was in fact on the approved list. They provided an ID#, that is assigned to the Complex in question. So, the buyer is NOW convinced that this complex does in fact allow VA loans.
BUT, after further review by the Buyer's lender, they can NOT establish the "START DATE" to the approval!! In other words, thvere is NOT a time frame for the approval of this complex based on the ID# provided to the Buyer.
So, we are still trying to get a TRUE confirmation of this current ID#, as to the time frame it may have been approved. WE believe, that the ID# attached is ONLY the application for VA approval, and that it has NOT been approved at this time.
We hope to clear this up with VA, but in the meantime... buyers place themselves on HOLD, and will probably lose out to other opportunities while waiting for VA to provide the requested information to the Buyer's lender!!
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It is encouraging to see the real estate market change to a "positive" market swing, and NOW is the TIME to seize that opportunity to Buy and Sell!!
Sellers, we need your home on the market, there are Buyers out there searching
for homes, due to the lack of inventory!!
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Thanks for reading this, Dan Hopper.
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Dan Hopper specializes in assisting home owners to avoid Foreclosure in Denver, Colorado. Denver Loan Modification Help, Denver Short Sales. Denver Realtor. Westminster, CO Loan Modification Help, Westminster, CO Short Sales, and Westminster Realtor.
Thank you for reading, "Be Sure The Complex is FHA or VA Approved!"
Westminster, CO- Let's review the Economic Snapshot of the Broomfield and Westminster areas of Denver.
