Frequently Asked Questions About VHDA Properties

How can someone purchase a foreclosed house from VHDA?

Can anyone purchase a VHDA foreclosed house?

How are list prices determined?

Can purchasers select their own closing attorney or agent?

Does VHDA fix up/repair homes prior to sale?

How can a realtor become a listing agent for VHDA?

How can someone purchase a foreclosed house from VHDA?

Please contact the real estate agent listed with each property. Unlisted properties - no real estate listing agent - may be purchased directly from VHDA. Please contact the REO Manager at 804-343-5781. All offers of purchase must be in writing.

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Can anyone purchase a VHDA foreclosed house?

Yes. However, purchasers seeking VHDA financing must qualify under current VHDA underwriting policies and guidelines.

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How are list prices determined?

VHDA seeks the market value of each property.

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Can purchasers select their own closing attorney or agent?

Yes.

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Does VHDA fix up/repair homes prior to sale?

The decision is made on a house to house basis. Some houses are sold in "as-is" condition or without repairs.

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How can a realtor become a listing agent for VHDA?

The agent must submit a written request. The request must include the agent’s name, real estate company, telephone number, geographical area of business and other information the agent deems pertinent for VHDA to consider. The request should be mailed to Bill Goff, REO Manager, Virginia Housing Development Authority, 601 S. Belvidere Street, Richmond, VA 23220.

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