🌟 [ 28 ]   VA Rule Change due to NAR lawsuit settlement. VA Home Loan Buyers. what to expect [ @Veterans InfoTap ]

Veterans Affairs Removes Compensation Hurdle for Military Buyers tool that provides military veterans with a centralized, affordable and accessible method of purchasing homes with no down payment as a benefit for their service to the nation. It’s also the only program that explicitly banned buyers from directly paying for professional real estate representation, NAR President Kevin Sears said in a statement. “We applaud the VA for revising this policy and allowing veterans and active-duty service members the same advantages as other buyers in a competitive real estate market,” Sears said. “We look forward to continuing this conversation, and our 1.5 million members stand ready to support the VA in whatever way possible to protect the brave men and women who serve this country and ensure they are given the equal opportunity to achieve the American Dream of homeownership.” The VA and NAR say they will continue to monitor the evolving homebuying market, as practice changes take effect Aug. 17, and will issue updates as they occur. The VA adds that it “encourages veterans to negotiate buyer broker fees with their real estate professional. VA buyers can also still ask sellers to cover the buyer broker’s compensation at closing.”

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