- About the ProgramVA
sells mostly single family properties that are acquired as the result
of foreclosures on VA guaranteed loans through the facilities of 46
regional offices (click here to see list).
Property listings for most offices are available on the Internet or
by direct mail. Regional offices whose Internet sites are not fully
functional issue sales listings in local newspapers.
The properties are available for sale to
the general public through the services of private
sector real estate brokers, and are sold to homebuyers and investors
and to veterans and nonveterans. Real estate brokers receive the keys
to properties and assist prospective purchasers in finding, viewing
and offering to purchase them. Participating brokers receive instructional
material regarding the sales program and are familiar with VA sales
procedures. VA pays the sales commission.
FY99 Inventory Activity:
| Property Acquired |
24,217 |
| Property Sold |
24,758 |
| Average Time in Inventory |
9.6 months |
| Total in Inventory |
21,066 |
Buying VA Acquired Properties
If you are interested in buying a VA property,
please contact a local real estate broker to find
out about VA-acquired properties listed for sale in the specific area
you are interested in.
A copy of the list of properties available
for sale in your area may be available from the links to our Property
Management websites below. The list also provides addresses,
telephone numbers for both voice communications and electronic bulletin
boards, if available, and the names of individuals responsible for property
management.
Offers to purchase VA acquired
properties must be submitted on VA forms; offers cannot be submitted
on offer forms generally used in the real estate industry. In addition
to the standard VA forms, each regional office also requires additional
local addenda. Please contact the regional office with jurisdiction
over the area you are interested in for local addenda.
To
download the files below, "right-click" on the filename and follow the
file save instructions for your Internet browser. You
will need Acrobat Reader 3.0 (or later) to view and print the files
above. Click here to download the latest version from Adobe©.
VA Form 26-6705:
Offer to Purchase and Contract of Sale
VA Form
26-6705B: Credit Statement of Prospective Purchase
VA Form
26-6705D: Addendum to Offer to Purchase (Virginia Only: CRESPA
and Property Owners Association Information)
Frequently Asked Questions
Answers to frequently asked questions on
the property management program are available here.
- A-76 Cost
Comparison
- VA is in the process of conducting
an A-76 Cost Comparison of its Property Management operation.
