[Federal Register Volume 63, Number 110 (Tuesday, June 9, 1998)]
[Notices]
[Pages 31582-31583]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-15232]


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DEPARTMENT OF VETERANS AFFAIRS

[OMB Control No. 2900-0029]


Proposed Information Collection Activity: Proposed Collection; 
Comment Request

AGENCY: Veterans Benefits Administration, Department of Veterans 
Affairs.

ACTION: Notice.

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SUMMARY: The Veterans Benefits Administration (VBA), Department of 
Veterans Affairs, is announcing an opportunity for public comment on 
the proposed collection of certain information by the agency. Under the 
Paperwork Reduction Act (PRA) of 1995, Federal agencies are required to 
publish notice in the Federal Register concerning each proposed 
collection of information, including each proposed revision of a 
currently approved collection, and allow 60 days for public comment in 
response to the notice. This

[[Page 31583]]

notice solicits comments on the information needed from a private 
sector sales broker to submit an offer to VA on behalf of a prospective 
purchaser of a VA-acquired property.

DATES: Written comments and recommendations on the proposed collection 
of information should be received on or before August 10, 1998.

ADDRESSES: Submit written comments on the collection of information to 
Nancy J. Kessinger, Veterans Benefits Administration (20S52), 
Department of Veterans Affairs, 810 Vermont Avenue, NW, Washington, DC 
20420. Please refer to ``OMB Control No. 2900-0029'' in any 
correspondence.

FOR FURTHER INFORMATION CONTACT:
Nancy J. Kessinger at (202) 273-5079 or FAX (202) 275-5146.

SUPPLEMENTARY INFORMATION: Under the PRA of 1995 (Pub. L. 104-13; 44 
U.S.C., 3501-3520), Federal agencies must obtain approval from the 
Office of Management and Budget (OMB) for each collection of 
information they conduct or sponsor. This request for comment is being 
made pursuant to Section 3506(c)(2)(A) of the PRA.
    With respect to the following collection of information, VBA 
invites comments on: (1) whether the proposed collection of information 
is necessary for the proper performance of VBA's functions, including 
whether the information will have practical utility; (2) the accuracy 
of VBA's estimate of the burden of the proposed collection of 
information; (3) ways to enhance the quality, utility, and clarity of 
the information to be collected; and (4) ways to minimize the burden of 
the collection of information on respondents, including through the use 
of automated collection techniques or the use of other forms of 
information technology.

Titles and Form Numbers

    a. Offer to Purchase and Contract of Sale, VA For 26-6705.
    b. Credit Statement of Prospective Purchaser, VA Form 26-6705b
    c. Addendum to VA Form 26-6705 (Virginia), VA Form 26-6705d.
    OMB Control Number: 2900-0029.
    Type of Review: Revision of a currently approved collection.
    Abstract:
    a. VA Form 26-6705 is used by the private sector sales broker to 
submit an offer to the VA on behalf of a prospective purchaser of a VA-
acquired property. The form will be prepared for each proposed contract 
submitted to the VA. If the VA accepts the offer to purchase, it then 
becomes a contract of sale. The form defines the terms of sale, 
provides the prospective purchaser with a receipt for his/her earnest 
money deposit, eliminates the need for separate transmittal of a 
purchase offer and develops the contract without such intermediate 
processing steps and furnishes evidence of the station decision with 
respect to the acceptance of the contract as tendered. Without this 
information, a determination of the best offer for a property cannot be 
made.
    b. VA Form 26-6705b is used as a credit application to determine 
the creditworthiness of a prospective purchaser in those instances when 
the prospective purchaser seeks VA vendee financing, along with VA Form 
26-6705. In such sales, the offer to purchase will not be accepted 
until the purchaser's income and credit history have been verified and 
a loan analysis has been completed, indicating loan approval. Without 
this information, the creditworthiness of a prospective purchaser 
cannot be determined and the offer to purchase cannot be accepted.
    c. VA Form 26-6705d is an addendum to VA Form 26-6705 for use in 
Virginia. It includes requirements of State law which must be 
acknowledged by the purchaser at or prior to closing.
    Affected Public: Individuals or households.
    Estimated Annual Burden: 57,917 hours.
    a. VA Form 26-7605--35,000 hours.
    b. VA Form 26-6705b--22,500 hours.
    c. VA Form 26-6705d--417 hours.
    Estimated Average Burden Per Respondent: 20 minutes (average).
    a. VA Form 26-7605--20 minutes.
    b. VA Form 26-6705b--20 minutes.
    c. VA Form 26-6705d--5 minutes.
    Frequency of Response: Generally one-time.
    Estimated Number of Total Respondents: 172,500.
    a. VA Form 26-7605--100,000.
    b. VA Form 26-6705b--67,500.
    c. VA Form 26-6705d--5,000.

    Dated: March 31, 1998.

    By direction of the Secretary:
Donald L. Neilson,
Director, Information Management Service.
[FR Doc. 98-15232 Filed 6-8-98; 8:45 am]
BILLING CODE 8320-01-M