Seller only wants Cash or Conventional Lending

[Jordan J. Osborne]

Hello! I recently found a good opportunity in Virginia to buy a property and I had been planning on using my VA loan since I'm not in the position to save $100k+ for a down payment. Does anyone have any advice on how to still secure this property? This will be my first investment property so I'm not sure what the best route is. Should I still try offering a VA loan purchase? Secure a hard money loan and then refinance? Is it possible to refinance a different loan into a VA loan? Thanks for any help!

[Caleb Brown]

Have your agent talk to the listing agent. When I see owns/agents put cash/conventional it won't pass VA appraisal or they aren't able to make repairs. By having it listed only cash/conventional, buyers that are investors or have the ability to rehab will buy it. If you do have the ability to rehab the and see if you can lock it up with the VA loan. If you are okay with the rehab that's needed than have your agent convey that to the listing agent so they aren't at ease. Biggest thing is figure out WHY. If it needs something to pass appraisal for a VA loan then it'll take being creative. As someone else mentioned look into 5% down conventional.