VA Appraisals: Roofs, Basements and Crawlspaces
When it comes to a VA appraiser’s job, moisture is an important factor in rating or evaluating the property. Part of the appraisal process is to identity obvious conditions that could affect the value...
View ArticleVA Appraisals, NOV Expiration Dates and Appraisal Fees
In recent blog posts we've discussed the role of the appraisal in buying a home with a VA insured mortgage. The Department of Veterans Affairs won't issue a loan amount until VA appraiser has reviewed...
View ArticleVA Appraisal Requirements For Water Supply To The Home
One common question we often get regarding VA appraisal requirements for homes to be purchased with a VA guaranteed mortgage loan involves the question of what types of water supply is acceptable for...
View ArticleVA Loan Minimum Property Requirements: Asbestos
After viewing a recent post about VA minimum property requirements and appraisals, one reader asks, "What about asbestos shingles on an older home?" Assuming the reader is asking whether asbestos...
View ArticleWhat is the VA Loan Escape Clause?
There are many different ways to buy a home using a VA mortgage loan. Sometimes the buyer finds a home they really want, work with the seller to come to an agreed-upon price and other terms, and then...
View ArticleVA Minimum Property Requirements Update: Water and Sewage
The Department of Veterans Affairs has a VA minimum property requirements update for water and sewage. In VA Circular 26-13-24, we find an update that includes the following: “Historically, for...
View ArticleVA Appraisals and Reconsideration of Value
When a VA loan applicant wants to buy a home, gets a contract sales price, and a VA assigned fee appraiser looks at the property, the results of that appraisal may not correspond with the asking price...
View ArticleVA Appraisals: How Long Until a Notice of Value Expires?
VA rules state that any property to be purchased with a VA insured loan must have a notice of value assigned after being reviewed by a VA assigned appraiser. The notice of value or NOV for short allows...
View ArticleVA Appraisals and Defects: A Reader Question About Home Defects
A reader asks, “I recently bought a home that had a VA appraisal done, which I thought was also a inspection done per VA requirements (my misunderstanding). 3 weeks after closing and while doing paint...
View ArticleDo Homes Purchased With a VA Loan Have Warranties?
Warranties are everywhere. You can take advantage of a manufacturer's warranty on your cell phone, your computer, and automobile when buying them brand new. Some products like cars and trucks even...
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