VA Allows Buyer-paid Broker Fees

The U.S. Department of Veterans Affairs, known as VA, issued a policy change that now allows payment to buyer brokers on VA loans.  They will be subject to certain safeguards, such as the requirement that all buyer-broker fees charged to veterans "must be reasonable and customary within local markets."  The circular is effective Aug. 10, 2024, and is valid until rescinded.

The VA also clarified that veterans can still ask sellers to cover these fees which in most cases will be negotiated in the offer to purchase agreement.  As the practicality of the settlement of the lawsuit becomes clearer, VA is expected to issue a permanent policy.

This change in policy will protect veterans in situations where there is competition for a particular property and the seller might select another offer because those buyers were paying their own buyer's agent fee.  Prior to this policy change, veterans were not allowed to pay, "under any circumstances, be charged a brokerage fee or commission in connection with the services of such individuals."

Both the National Association of REALTORS� and the Mortgage Bankers Association have been lobbying the VA to address this prohibition and are thankful for addressing the issue to keep veterans who want to use their VA benefits to purchase as home.

VA mortgage loans have many benefits and options to structure a home purchase to fit your individual situation.  Your real estate professional can help you find the home that fits your needs with affordable financing.

For more information on changes with buyer's agents, download Buyers Agent Guide and contact your agent with any questions you may have.

 

Smart living with home automation

In today's fast-paced world, home automation is becoming increasingly popular among homeowners seeking to enhance convenience and reduce energy costs. With advancements in technology, smart home devices offer innovative solutions that not only simplify daily tasks but also promote energy efficiency and sustainability.

Whether you're looking to upgrade your existing home or are in the process of building a new one, incorporating these home automation trends can significantly improve your living experience while saving you money in the long run.

• Smart Lighting - Automate your lighting to save on energy bills by setting schedules and controlling brightness and color through a smartphone app.
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• Voice-Controlled Assistants - Incorporate voice-controlled assistants to manage daily tasks and control other smart devices, enhancing convenience and efficiency.
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• Sustainable Living Solutions - Implement energy-efficient appliances and solar-powered systems to reduce your carbon footprint and utility expenses.
• Smart Entertainment Systems - Integrate smart entertainment systems for a customized audio-visual experience that can be controlled remotely or by voice.
• Touchless Technology -Install touchless faucets and smart showers to promote hygiene and water conservation while adding convenience to daily routines.
• Eco-Friendly Smart Toilets - Consider eco-friendly smart toilets that offer features like water-saving flushes and self-cleaning capabilities, contributing to a sustainable lifestyle.

By integrating these home automation trends into your living space, you can create a more efficient, convenient, and enjoyable home environment. Not only do these innovations enhance your daily routines, but they also contribute to long-term savings on energy costs and improve the overall value of your property.

Embrace the future of home living by exploring these smart solutions and take the first step toward a more automated and sustainable lifestyle.