Survival Tips For Small Businesses

Cash In On Government Homes
By: Wesley Barney
If you are looking for your first home or are presently a real estate investor, you will find that government properties can be a great buy. There are presently hundreds of homes available each month from different government agencies in your area.
Many of these homes can be bought way below their market value with a small or sometimes no down payment, and the government will carry their own financing with favorable terms. Qualifying for these loans is very easy - basically all you need is a steady job.

Government properties are a great buy.
Veterans Administration
Known as the VA, this administration has many foreclosures or repossessed homes. If a veteran homeowner defaults on a VA guaranteed loan, the veteran's lender forecloses the loan. In most cases, VA acquires these properties after foreclosure sales and then sells the properties to the public. These properties include detached homes, townhouses and condominiums.
Note: There is a misconception among the general public that you have to be a veteran to buy repossessed homes, not so.
When you purchase property from the VA, you are buying it in an "as is" condition, with no warranties regarding property conditions.
How Sales Are Advertised

Some VA offices issue property sales listings.
Some VA offices publish their sales listings in the local newspaper.
Some approved VA brokers advertise the selling of VA properties.
VA list is printed the beginning of every month.

"...all you need is a steady lob."
How Properties Are Sold
You must fill out the offer to purchase agreement to make the VA an offer. A real estate broker will provide you with the forms.

Properties are offered for sale to the public at fair market value and sold to the highest offer through sealed bid process.
Offers may be submitted through any licensed real estate broker who participates in the VA sales program.
VA seller/financing with competitive rates, terms and down-payments are available for most properties being offered for sale.

Below Market Prices
VA properties offer excellent opportunities to buy properties below market value. Some properties in the past have been listed for a few thousand dollars. The average price range for VA properties depending on where you live, range anywhere from $40,000 to $85,000 price bracket. However, before you buy a VA repo, you must:
a) determine market value,
b) closing cost and repairs,
C) and above all make realistic offers.

You do not have to be a veteran.
VA homes are affordable. Investors can purchase a VA home below market value. There are families in the market place who are tired of "paying rent" and who would love the opportunity to own their own home. There are renters who are looking for decent, safe and sanitary housing at affordable rates.
Your Mission
Your mission: to locate VA repossessed homes below market value. (Should you get lost-contact your local real estate investors' association or club nearest you!)
For more information about VA Repo's call your local VA regional office or call Washington DC's Veteran's Foreclosed Homes (202) 418-4270, ext. 3336.
Good luck!

Reprinted With Permission