Buying VA foreclosed homes is a good investment decision. Some of its benefits include a wide array of property selection, low prices and small down payments.

Astute investors and buyers are attracted to VA foreclosed homes for various reasons, foremost of which is the lower price. But before you jump into the bandwagon, understand first what makes a VA foreclosure.

What Are VA Properties?
VA repo properties are special kinds of real estate that are on sale from a government agency known as the Department of Veteran Affairs. Once of the main functions of this agency is to provide home loans to veterans in the United States at discounted rates. However, when a veteran defaults on the loan despite the discount, the VA will repossess and sell the property as a means of collecting the remaining outstanding debt on the loan provided.

In many cases, buying a repo for sale through this department is to the great advantage of the homebuyer. Since department officials will one be looking to sell VA homes for enough to cover the remaining debt owed on the mortgage instead of the full value of the home, these properties are often undersold.

Contact Us
Contact the Hampton Roads Realty Group and we will be happy to provide you with a comprehensive list of all VA properties in Hampton Roads – including Virginia Beach, Norfolk, Chesapeake, Suffolk, Portsmouth, Hampton and Newport News!