VA Loans - and My Dilemma

[rogue06]

I'm just glad for you that it is all over and that a good family got your old home.

[Cow Poke]

I'm just glad for you that it is all over and that a good family got your old home.

And he (the new owner) called me tonight to ask about a valve on the water well. I asked him about his son, and he said his son was doing very well, though his whole hand is swollen. He had, indeed, cut off the snake's head, leaving about 7" of head and neck.... he picked the snake up by the back end of the "stub", and the snake immediately struck him in the thumb.

But, yeah, seems like a good family enjoying my former place.

[Cow Poke]

Wow.... it gets weirdererer.

There HAS been a possibility that a new highway would come in behind my property (that I sold). Rumors have been flying for years. In ALL of the likely scenarios, the closest any impact would have on my (old) neighborhood would be that, at the bottom of the hill (our road was a "lane", hence a dead end) there's a low lying area that was considered flood plain. It was POSSIBLE in some of those scenarios that the highway would encroach on some of that flood plain area with elevated highway (bridges), but that was always deemed as "way expensive". Hence, the likelihood was very low.

So now the VA inspector is making noises that it "might come back against us" that we didn't disclose the possibility that the highway department MIGHT build a highway and it MIGHT encroach on a wetland down the hill from us, about a mile and a quarter, and MIGHT impact our neighborhood.

We actually discussed this with the buyer and his realtor, and the realtor acknowledged verbally that "it's well known that there's that possibility", and the likelihood that it will have any negative impact at all on the property was near zero. In fact, it was likely to have a POSITIVE impact, as it would relieve some of the congestion at the "turn off" to our road by diverting "through traffic" away from that intersection.

What does the VA say? "Well, you didn't include it on your written disclosure, so, by law, you never disclosed it".

[Sparko]

Wow.... it gets weirdererer.

There HAS been a possibility that a new highway would come in behind my property (that I sold). Rumors have been flying for years. In ALL of the likely scenarios, the closest any impact would have on my (old) neighborhood would be that, at the bottom of the hill (our road was a "lane", hence a dead end) there's a low lying area that was considered flood plain. It was POSSIBLE in some of those scenarios that the highway would encroach on some of that flood plain area with elevated highway (bridges), but that was always deemed as "way expensive". Hence, the likelihood was very low.

So now the VA inspector is making noises that it "might come back against us" that we didn't disclose the possibility that the highway department MIGHT build a highway and it MIGHT encroach on a wetland down the hill from us, about a mile and a quarter, and MIGHT impact our neighborhood.

We actually discussed this with the buyer and his realtor, and the realtor acknowledged verbally that "it's well known that there's that possibility", and the likelihood that it will have any negative impact at all on the property was near zero. In fact, it was likely to have a POSITIVE impact, as it would relieve some of the congestion at the "turn off" to our road by diverting "through traffic" away from that intersection.

What does the VA say? "Well, you didn't include it on your written disclosure, so, by law, you never disclosed it".

I thought that VA inspector was reigned in. Is this a different person?

and wouldn't it be the inspector's job to research the neighborhood for such things as upcoming construction projects? Residents are many times not even informed of planned construction until it is confirmed as going to happen. If this is mere rumors, then there is nothing to report. If it is more than rumors, the inspector should have checked with the city planning office. Not your job.

[Cow Poke]

I thought that VA inspector was reigned in. Is this a different person?

Yeah, this is her boss.

[Sparko]

Yeah, this is her boss.

so they are all complete jerks.

I added above: wouldn't it be the inspector's job to research the neighborhood for such things as upcoming construction projects? Residents are many times not even informed of planned construction until it is confirmed as going to happen. If this is mere rumors, then there is nothing to report. If it is more than rumors, the inspector should have checked with the city planning office. Not your job.

[Cow Poke]

so they are all complete jerks.

I added above: wouldn't it be the inspector's job to research the neighborhood for such things as upcoming construction projects? Residents are many times not even informed of planned construction until it is confirmed as going to happen. If this is mere rumors, then there is nothing to report. If it is more than rumors, the inspector should have checked with the city planning office. Not your job.

It would primarily be the job of their realtor to do a good faith or "due diligence" survey of facts, but, yeah, as concerned as the VA was about every little picky thing, and claiming they're 'protecting the vet', it seems as though they've made a blundering error. (IF, in fact, there's a a problem on the horizon)

[Cow Poke]

LostSheep was just asking me about the place I sold, so I thought I'd post an update....

After all the rigamarole dealing with the VA, and bringing things up to their expectations, and playing games, and putting a lot of work and money into "fixing the place up".....

Hurricane Harvey came down hard.

The well house was completely destroyed, including all the above-ground components, the shop was badly damaged, many of the huge oak trees were felled, and a lot of the fencing along the pasture was literally ripped out of the ground.

On top of all this, the guy who bought the place lost his job shortly after closing.

As I mentioned to LS - I bet that guy kinda identifies with Job. He's a good guy, and needs our prayers.

[LostSheep]

[Cow Poke]

I kinda feel guilty, in a way, because we sold the place for considerably more than I paid for it, and very shortly after we closed, the market in that particular area collapsed because it's along the route of the future "Aggie Expressway". The house across the road from us was selling for about the same price as ours, and it still hasn't sold, even though the sellers have come down nearly $100,000 on the price.

While it could easily appear we "knew something" and were escaping the collapse - the honest fact is that we just needed to be closer to my work, and "it was time".

[Sparko]

LostSheep was just asking me about the place I sold, so I thought I'd post an update....

After all the rigamarole dealing with the VA, and bringing things up to their expectations, and playing games, and putting a lot of work and money into "fixing the place up".....

Hurricane Harvey came down hard.

The well house was completely destroyed, including all the above-ground components, the shop was badly damaged, many of the huge oak trees were felled, and a lot of the fencing along the pasture was literally ripped out of the ground.

On top of all this, the guy who bought the place lost his job shortly after closing.

As I mentioned to LS - I bet that guy kinda identifies with Job. He's a good guy, and needs our prayers.

oh no. Did he have insurance? did he lose the house?

[Cow Poke]

oh no. Did he have insurance? did he lose the house?

I really don't know - He wouldn't have been able to get VA financing without having insurance, and I'm pretty sure the VA makes their clients escrow, which, of course, means the lender was paying the insurance out of the house payment.

We still stay in touch with a neighbor (our dog Jake and their dog Sandy were best buds) who seemed to indicate that the house itself wasn't badly damaged, but there was a garage apartment, the 50x70 shop, the well house.... all of those suffered bad damage or were destroyed.

We stopped communicating with Joe when it became apparent that we might get thrown under the bus for "not advising them" that there might be a change in the neighborhood, even though the buyer's agent was very clearly aware of that.

[Sparko]

I really don't know - He wouldn't have been able to get VA financing without having insurance, and I'm pretty sure the VA makes their clients escrow, which, of course, means the lender was paying the insurance out of the house payment.

We still stay in touch with a neighbor (our dog Jake and their dog Sandy were best buds) who seemed to indicate that the house itself wasn't badly damaged, but there was a garage apartment, the 50x70 shop, the well house.... all of those suffered bad damage or were destroyed.

We stopped communicating with Joe when it became apparent that we might get thrown under the bus for "not advising them" that there might be a change in the neighborhood, even though the buyer's agent was very clearly aware of that.

I meant did he lose the house because he lost his job.

Is the highway going through the neighborhood itself?

[Cow Poke]

I meant did he lose the house because he lost his job.

I think they're still in the house - from what I've heard, the VA is particularly tolerant of such situations, but I don't really know.

Is the highway going through the neighborhood itself?

No, it very clearly goes AROUND the neighborhood, which is actually "out in the country", but it does (if it actually happens) actually change the entry and exit into the area. In my own personal opinion, it would be a help, not a hindrance. I think the overshadowing factor here is one that could not be foreseen --- property values were soaring because there was a rumor that Exxon was going to build a facility in the region which would employ up to 10,000 people. They appear to have since changed their minds, or at least delayed that plan. That was, supposedly, in anticipation of the "Aggie Expressway" which would have given them quick access to downtown Houston, airports, etc.....

[DesertBerean]

I kinda feel guilty, in a way, because we sold the place for considerably more than I paid for it, and very shortly after we closed, the market in that particular area collapsed because it's along the route of the future "Aggie Expressway". The house across the road from us was selling for about the same price as ours, and it still hasn't sold, even though the sellers have come down nearly $100,000 on the price.

While it could easily appear we "knew something" and were escaping the collapse - the honest fact is that we just needed to be closer to my work, and "it was time".

My reaction to this: Oh....UGH. Poor guy.

Prayers for everyone.