VA Foreclosure--HELP - Posted by Jeff(PA)

Posted by kgreen on August 28, 2003 at 11:32:11:

You have to have a VA registered broker submit the bid to VA for you.

VA Foreclosure–HELP - Posted by Jeff(PA)

Posted by Jeff(PA) on August 28, 2003 at 10:56:00:

Ok i found a property that has been vacant for over a year, windows broke, animals live inside, needs a new roof…this is a total rehab project…the va owns it and now the price is down to 32,000…3 bd 1 ba 1,400 sqft brick semi detached SFR…itsa block away from 200-300k historic homes and i figure at least 85-90k after repair value…its ownd by the VA so i have to submit an electronic bid…i have a preapproval for 75% of after repair value…so at 85k after cost and list price i will have around 28,000 for rehab…how do i know this will be sufficient before i make my offer? I want to put an offer in ASAP before it gets sold and a contractor needs a few days to do an estimate…how should i proceed? what would u do?

thanks,

Jeff L. Weaver