Final answer:
A buyer with a VA loan can withdraw from a contract without penalty if the CRV is lower than the purchase price, and they may negotiate the price further.
Step-by-step explanation:
When dealing with a VA loan, it is essential to understand the buying process and the rights associated with it. A Certificate of Reasonable Value (CRV) is often part of the home buying process with a VA loan. If a buyer signs a contract before receiving a CRV, their rights are protected under the VA loan program guidelines. The buyer retains the right to withdraw from the contract without penalty if the CRV comes back lower than the purchase price. Additionally, they may be able to renegotiate the price with the seller. It is crucial for buyers to consult with their loan officer and real estate agent to understand their rights and next steps in such instances fully.