More Information About CalVet Properties for Sale
This is a continuation from our "CalVet Properties for Sale" page, which we recommend you read first.
These pages contain a list of properties that are owned by the Department and are currently for sale.
Each property is initially offered for sale through a sealed offer advertising period, which is a
competitive process. A "for sale" advertisement shall appear in a local newspaper which services the
area where the property is located, for a period of at least fourteen consecutive days. An asking price
will be stated in the advertisement, but all offers will be considered. Only sealed offers are accepted
during this period. Our form, "Offer To Purchase
Repossessed Property" is available for downloading. Contact the listing agent shown for the
starting and ending dates of this period.
The Department attempts to sell repossessed properties to the highest qualified offeror, however, we may
make the determination that there are no acceptable offers. Highest qualified offeror is defined as the
person who submits the highest acceptable offer (provides the highest net dollar amount from the sale)
and who verifiably qualifies for the necessary loan. If the property does not sell as a result of the
sealed offer advertising process, then it will remain listed for sale and open to offers at any time.
We recognize two different "As Is" concepts. The first involves selling the property "As Is without
representation or warranty", thus ending our involvement with the property when it is sold. We will
do this without exception. The second "As Is" concept involves our willingness to do repairs during
the escrow period. We may consider requested repairs, however they would be figured into the
Department's calculation of net dollar amount from the sale.
CalVet financing is not offered on all repossessed properties. Each property will state whether or not
CalVet financing is offered. If financing is offered, it will be available to anyone qualifying, both
veterans and non-veterans. The exception to this is mobile homes in parks, which must be funded with
General Obligation Bonds.
Prevailing CalVet loan terms, fees, and rates shall apply. CalVet financing involves several different
loan programs and funding source types. Down payment requirements vary with the different loan programs.
The availability of some funding source types depends upon the eligibility of the veteran. See a CalVet
loan application package for further information. Also, non-qualifying veterans and non-veterans
purchasing CalVet repossessed properties are limited in the loan programs and funding sources available
to them, and are subject to an interest rate which is .5% (one-half percent) above the stated rate. A
buyers signature on the CalVet application shall be evidence of the buyer’s acceptance of CalVet
financing policies.
The properties are marketed by the listing agent shown. For additional information about the property
contact them at the address or telephone number shown, or use the web site's e-mail form. You may
contact the CalVet Property Agent shown on matters which cannot be resolved by the listing agent. All
properties are subject to prior sale.