VA issues temporary fix to allow buyer-paid broker fees

[AJ Wong]

The US Department of Veterans Affairs (VA) on Tuesday issued a temporary fix that allow homebuyers and investors using VA loans to pay for their real estate agent's commission - i.e., the buyer-broker fee.

Statement fro the National Association of Realtors: "NAR launched an all-hands advocacy effort on this issue, meeting with VA officials, engaging with lawmakers and rallying our industry partners to ensure this prohibition was lifted," Shannon McGahn, the chief advocacy officer at NAR, said in a statement. "This is also a testament to the thousands of REALTORS® who came to Washington just a few weeks ago with a unified message. Without this change, thousands of veteran buyers could be denied access to professional representation in their pursuit of the American Dream of homeownership. Taking this extra step ensures veterans have the same opportunity as others to compete in a tight housing market. We applaud the VA for recognizing this danger and acting swiftly to protect veterans."

Link to article here: https://finance.yahoo.com/news/va-roll-temporary-fix-buyer-2...

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