The Dreaded VA Inspection...

To all the current and future home sellers out there, I know you have heard stories about the dreaded VA inspection from a brother’s friend’s uncle’s cousin…but, let me help shed some light on this real estate conspiracy theory.

Often, many sellers are so nervous to accept an offer with VA financing, that even in a multiple offer scenario, where that same VA offer has additional advantages over competing offers, one of the competing offers with conventional financing will win most of the time.  But why?

Well, there is this idea that the “VA Inspector” will go through the home with a fine tooth comb, find problems and will kill the deal. But with newer homes, and many older homes brought up to this decade, this is becoming less of an issue.

A loan with VA financing doesn’t even require a home inspection. However, during the appraisal, the VA appraiser will be looking for a few things that a conventional financing appraiser may not be.  The better the condition of the home, the less likely to have issues.

The VA offers an amazing loan program to military and veterans; with no down payment requirements, super competitive rates, no mortgage insurance, and limited closing costs.  And to do that, the VA wants to make sure the home is in safe, sound, and liveable condition.  So homes in need of a lot of repairs, a traditional VA loan may not be the way to go.  

Some of the top concerns we run into are things like:

1. Damage to wall(s) or structure.

2. Missing railings.

3. Chipping paint on home built before 1978 (lead paint concerns).

4. Broken windows.

5. Flooding and/or Mold.

If you are selling or thinking of selling and your home doesn’t have these issues, then you may want to consider that VA offer once more.