Pat Sykes
ABR, Broker Assoc., CRS, GRI
Phone: (703) 395-6704
Mobile: (703) 395-6704
Fax: (800) 299-5004

Sellers Knowledge Base

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Seller's Knowledge Base

Selecting a REALTOR®  
22 Questions to ask a REALTOR®
Thinking of Selling "By Owner" 
Understanding Your Home's Value 
About Appraisals  
Am I priced to Sell 
How Long to Sell My Home 
Market Time 
Prepare Your Home to Sell  
Steps to Selling Your Home  
Return on Investment for Home Improvements  
Showings and Open Houses 
Home Inspections 
Selling FHA/VA  
Helping the Buyer  
Commonly Asked Questions

Selling FHA/VA

In today's robust housing market, many prospective home buyers are seeking financing through government-backed loan programs - FHA or VA loans.

FHA loans are insured by the federal government.

They allow buyers to enter the housing market with a lower down payment than conventional lenders allow with more flexible underwriting guidelines than conventional lenders are able to provide.

VA loans are guaranteed by the Veterans Administration

For honorably discharged veterans and active military personnel in the U.S. armed forces (Reserves and National Guard also qualify). No down payment is required for a VA loan, and closing costs may be a gift. Like FHA loans, VA loans offer flexible underwriting guidelines.

Years ago, government-backed loans were regarded by home sellers as less favorable than conventional loans: longer processing, less qualified applicants, more paperwork and hassle were among the objections sellers voiced. Additionally, FHA/VA buyers were perceived as wanting more from sellers, asking for points and/or closing costs as part of the negotiations.

RE/MAX Allegiance recommends that sellers strongly consider the offers of all prospective buyers, bearing in mind that each one will involve negotiation for both parties. FHA and VA loans are now processed with the same speed and efficiencies as conventional loans, with paperwork and processes that are no more rigorous. While both FHA and VA loans do require a home inspection, most home buyers today are already likely to request a private inspection to protect their interests. And a higher sale price may well offset a seller's hesitation to pay some costs on the buyer's behalf.

We suggest that as sellers, you open your options to the broadest possible market of potential buyers, and consider each offer on its individual merits. Your RE/MAX Allegiance listing agent will offer sound advice throughout the selling process.

RE/MAX Allegiance
6084 Franconia Road, Ste A
Alexandria VA  22310
(703) 971-5555
Real Estate License # 0225112574
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