The NAR (National Association of Realtors) Settlement & Implications for the VA Loan скачать в хорошем качестве

The NAR (National Association of Realtors) Settlement & Implications for the VA Loan

#homebuying #mortgage #realestate #vahomeloan #veteranbenefits On June 12, 2024, the VA published Circular 26-21-14 which announced changes to the VA prohibition of buyer-paid real estate commissions. The circular will go into effect on August 10, 2024 and will allow the Veteran to pay for certain buyer-broker charges. Background NAR Settlement: The National Association of Realtors (NAR) settled various lawsuits for $418 million, which alleged that the real estate industry colluded to keep agent commissions artificially high. As part of this settlement, NAR agreed to end the practice requiring listing agents to offer compensation to buyer brokers through MLS listings. Previously, VA rules prohibited veterans from paying real estate agent commissions, which sellers usually covered. The variance rule allows veterans to pay reasonable and customary amounts for any buyer-broker charges (including commissions and any other broker-related fees) subject to the following: 1. The home being purchased by the veteran is in an area where listing brokers are prohibited from setting buyer-broker compensation through the MLS, or buyer-broker compensation cannot be established by or flow through the listing broker. 2. Buyer-broker charges are not included in the loan amount. 3. Buyer-broker charges paid or to be paid by the veteran must be considered in determining whether the veteran has sufficient liquid assets to close the loan. Other important facts: 1. An invoice is not required to support the buyer-broker charge 2. VA considers the buyer-broker representation agreement to be part of the sales contract package, therefore it will need to be included when requesting an appraisal. 3. VA will not treat the seller’s payment of the buyer-broker charges as a seller concession. Why is this important? This is great news and will allow veterans the same opportunities as other borrowers in a difficult housing market. It’s important to note that although the change by the VA is announced in the VA mortgage circular 26-24-14, it won’t be officially adopted into their written policy until it goes through their advanced rulemaking and comment process. 🔴 Subscribe for more free Home Buying tips:    / @homebuyingwithchristian3616   ?sub_confirmation=1 🔴 Looking to get Pre-Approved for a new home, vacation home or investment property? Or refinance a current property? Feel free to follow the link below and start the process online: https://apply2.radiusgrp.com/#/signup... 🔴 Check out my most popular YouTube video here on Renovation Loans:    • General Overview of Renovation Loans (FHA ...   🔴 Recommended Playlist: The Top Ten Questions Googled of 2022 by Potential Home Buyers    • The Top Ten Questions Googled of 2022 by P...