Can anyone help me with this question?

10 Replies

So I am new here and I’m about to start my real estate investing venture. I am placing an all cash offer to a foreclosed VA home and my real estate agent just asked me what date I wanted to close. I live in Texas I’m not sure if that has anything to do with it. But anyhow I’m not sure how much time I should put from offer acceptance to closing date. Is quicker better or should I give a couple weeks delay?

In my experience when dealing with VA properties the fact of your offer being all cash and how quick your willing to close do not matter. All that matters is what they will net on the property.

I recently made an offer on a VA property in Louisiana that had active termites. They countered my offer $500 below list price and were not willing to have the termites treated.

I hope this helps!

Thanks, but what I am wondering is how long should a all cash offer take to close? Or how long a title company would take to get the job done.
I don’t want to lose the offer because the title company takes a week and I said the closing would happen in 2-3 days?

It took me 7 weeks to close a VA forclosure. My lender was ready in 10 days. Between relaying paperwork back and forth, CO inspections, and title work, it was a long process. Our offer was accepted August 3rd, we closed Sept 20th.

I think you're worrying about nothing. A traditional cash sale can usually be closed in 7-10 days, depending on how busy your market is. If anything, it will be the VA that will slow the closing process down. The VA is not going to reject or accept your offer based on the anticipated closing date.

Personally I like to set closing 45 days out but if title and due diligence comes back good and allet parties are rdy to proceed you can move up the date.  If you hit snags in due diligence or title blemishes need to be remedied you will have some flexibility. 

Jeff V