Colli Real Estate

Question on a va foreclosure we bid on?

We put in a blind bid on a va foreclosure. The asking price was $54,000 and we bid $58,000.The home is worth well over $80,000. Got everything in order,loan approved,20% down, we are ready.The Simultaneous Offer Period ended July 17th at midnight. How long does the Va have to review the loans? The wait is killing me!!! Our realtor thought just a few days but I am expecting longer.After all it is the government…

Give it about 7 days. The first two days they review information on your bid is correct then they place the file on top of a stack of other files. After about 5 days that’s when your Realtor should call them daily — to put some fire underneath’em. Good luck on the deal.

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