Seattle is one of the most competitive housing markets in the nation. The high demand for housing within the city of Seattle has created an aggressive buyer’s market. Are you a veteran with a VA loan going into the aggressive Emerald City market?

1. Don’t expect all realtors to accept your VA loan.
   
   Twice we weren’t able to submit an offer due to realtors not accepting offers backed by VA loans. Some sellers have a misconception that the VA inspections and appraisals have higher repair standards and lower appraisals. It’s bad business, money is money, it looks bad on a seller when they reject accepting offers from veterans, watch out for Alchemy Real Estate Agency. Just when you’re ready to pull the trigger, prepare for some disappointment. Share the names of sellers in the comment section that refused to accept offers from veterans with your VA backed loan.
   
   
2. Prices are expensive and high.
   
   If you are just starting out in Seattle and want to buy a home compatible with the VA loan, expect the entry point for a house to be in the range of $400K-500K.
   
   
3. Shop around for lenders.
   
   Some national lenders weren’t able to offer the lowest rates like Navy Fed, USAA, or Veterans United. Using a local or regional lender or broker can be advantageous in Seattle, but make sure they have experience with VA loans. These lenders have an intimate knowledge of the market and understand the nuances of reasonable lending in Seattle. Just make sure you are getting the lowest and most competitive rate regardless if you go to a local or national lender.
   
   
4. Prepare to get outbid.
   
   If you see a listing that’s low, the realtor may be setting up competitive bidding amongst buyers–a bidding war. You may lose or you may win, but remember there are limits to the VA loan. The VA loan will only cover a home at a fair and reasonable market value. You can’t go crazy with high counter offers just to win a house, there are limits. You gotta be aware that you may get outbid by real estate barons in some of Seattle’s most sought after neighborhoods.
   
   
5. Have your documents and lender ready, houses go fast!
   
   It’s common in Seattle to have houses houses go under contract within day one or two of it listed. Buyers are willing to jump on houses right after they see them, and to be able to do this, you have to be prepared because the competition in Seattle is well prepared. Have your paperwork and lender ready before dipping your toes in this market.