VA Form 26-6705: Offer to Purchase & Contract of Sale

VA Form 26-6705: Offer to Purchase & Contract of Sale – VA Form 26-6705: Offer to Purchase and Contract of Sale is the official document used to submit an offer on VA-acquired properties (also known as REO or vendee properties). This form serves as both an offer to purchase and, upon acceptance by the Department of Veterans Affairs, a binding contract of sale.

Veterans, active-duty service members, and other eligible buyers use it when pursuing homes owned by the VA after foreclosure. It streamlines the process for buying these properties, often sold “as is” with specific financing options like VA Vendee loans.

What Is VA Form 26-6705?

VA Form 26-6705, titled Offer to Purchase and Contract of Sale, is a standardized real estate form managed by the U.S. Department of Veterans Affairs. It allows prospective buyers (through a licensed real estate broker) to make a formal offer on VA-owned properties.

Key purposes include:

  • Documenting purchaser information, property details, and offer terms.
  • Specifying financing (cash or VA Vendee loan).
  • Outlining conditions of sale, earnest money deposit, and closing requirements.
  • Becoming a binding contract once signed by the Secretary of Veterans Affairs or authorized representative.

The current version (January 2023) supersedes earlier editions and remains active (OMB Control No. 2900-0029, expiration 01/31/2026).

Who Should Use VA Form 26-6705?

This form is primarily for:

  • Veterans and eligible non-veterans interested in VA-acquired homes.
  • Real estate brokers submitting offers on behalf of buyers.
  • Buyers seeking VA seller-financed (Vendee) loans or paying cash.

Note: The property is typically sold “as is” with no warranties. Buyers should conduct thorough due diligence, including inspections where permitted.

How to Download VA Form 26-6705?

You can download the latest fillable PDF directly from the official VA source:

Download VA Form 26-6705 (PDF)

Additional resources are available on the VA Forms page.

Step-by-Step Guide to Filling Out VA Form 26-6705

Work with a licensed real estate broker experienced in VA properties. Follow the Service Provider’s submission instructions.

Main Sections:

  1. Property and Offer Information (Section I)
    • Property address, identifier, and purchase offer number.
    • Purchaser(s) names, addresses, contact info, and veteran status.
    • Title conveyance details and occupancy plans.
    • Disclosures about relationships to prior owners, VA employees, etc.
  2. Terms of Purchase (Section II)
    • Cash offer or term (financed) offer details.
    • Offered price, down payment, loan amount, earnest money deposit.
    • Calculations for “Net to VA” (important for competitive offers).
    • Closing timeline and certifications.
  3. Acceptance (Section III)
    • Signed by VA upon approval.
  4. Conditions of Sale (Reverse Side)
    • “As is” sale with limited warranties.
    • Risk of loss, rescission rights, earnest money handling.
    • Vendee loan funding fee requirements.
    • Closing procedures, prorations, insurance, and title matters.

Tips: Double-check calculations for Net to VA, as errors can lead to rejection. Include any required addendums (e.g., VA Form 26-6705d).

VA Vendee Loans and Financing Options

Buyers can request seller-financed VA Vendee loans on the form. These are direct loans from the VA for purchasing VA-acquired properties. Eligibility mirrors standard VA loan rules, with specific funding fee considerations (waived for certain veterans and surviving spouses).

Cash offers are also common and may receive priority in competitive situations.

Key Conditions and Important Clauses

  • Final Agreement: The form contains the entire agreement; no oral modifications.
  • Earnest Money: Held by the broker for VA; may be retained as liquidated damages if the buyer defaults (with exceptions for financing pursuit).
  • “As Is” Sale: Buyer accepts the property’s condition, subject to listed defects.
  • Non-Assignable: The contract cannot be assigned to another party.
  • Fair Housing: Includes anti-discrimination certifications.

Common Mistakes to Avoid

  • Incorrect Net to VA calculations.
  • Missing veteran status or relationship disclosures.
  • Failing to meet closing deadlines.
  • Submitting without proper broker certification.
  • Not understanding the “as is” nature and title contingencies.

Consult a real estate professional familiar with VA REO sales and review all conditions carefully.

Where to Find VA Properties and Submit Offers?

VA properties are marketed through approved Service Providers and real estate brokers. Search official VA channels or contact local VA Loan Guaranty offices for listings. Offers must follow the Service Provider’s guidelines.

Frequently Asked Questions (FAQs)

Is VA Form 26-6705 only for veterans?
No. Eligible non-veterans can also use it, though veterans receive certain benefits like funding fee waivers.

How long does it take to get a response?
VA or the Service Provider reviews offers based on highest net return. Timelines vary.

Can I include contingencies like inspections?
Properties are generally sold “as is.” Limited opportunities for inspections may exist depending on the listing.

What if my offer is rejected?
Earnest money is typically returned, and you may submit revised offers.

For the most current guidance, always refer to official VA resources and consult qualified professionals.