VA appraisal is an important part of the VA home loan approval process. When you sign up for a VA home loan, a VA-approved lender requires a VA appraiser to assess the property’s value and ensure that the home qualifies the Minimum Property Requirements (MPRs). The Department of Veterans Affairs established MPRs to ensure that the service members buy homes that are structurally safe, sanitary, and fit on various other similar parameters. If you plan to purchase a home through a VA home loan, it is important for your property to qualify the MRPs to ensure your health and safety. Continuing the discussion further, there are some major problems that may cause hindrance in getting you a VA appraisal. Let’s have a look at a few of them. 1. Inefficient Heating System A home to pass the VA appraisal must include a safe, acceptable, and efficient heating system. It should provide sufficient amount of heat to maintain a home’s temperature above 50 degrees Fahrenheit. Homes that have wood-burning stoves as the primary heating source must have another heating system to maintain an adequate temperature inside home. 2. Dilapidated Roof A roof is the first line of defense that protects the residents from harsh weather conditions and therefore must always be in a good shape. During the VA home loan process, the VA appraisers, sent by the VA approved lenders, inspect the condition of the roof. If there are holes, cracks, or any other defect in the roof, your property will not qualify for the VA appraisal. 3. Inadequate Mechanical Systems An inadequate mechanical system is another reason that can create an obstacle in getting approval for VA appraisal. VA appraisers inspect whether the home has electric and plumbing systems in safe and good working condition or not. The mechanical systems must have considerable future life and should not pose major issues for the residents. 4. Pest Problems To get VA approval, a termite and pest inspection is run on the property. Properties with prior fungus growth, termites, and other pest control issues must get them treated and then re-evaluated to get clearance from VA appraisers. In most states of the US, VA home buyers are not allowed to pay for the cost of a termite inspection. 5. Health or Safety Hazards Any type of health or safety hazard found can fail your property for VA appraisal. The appraisers will inspect the property as well the nearby area to look for health hazards such as polluted water, nuclear waste, waste disposal from the nearby factories or areas. The Bottom LineThe Department of Veterans Affairs has established some strict rules and high standards to appraise a veteran’s prospective home. Home loans from VA-approved lenders isn’t going to pass until the property qualifies all the given requirements. Property agents may look at it as a small and arbitrary process, but these precautionary measures ensure the health and safety of the veteran members and their families.
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AuthorDarrick encourages readers to post issues that need immediate attention in terms of home buying; such interactions will enhance reader engagement and provide a road-map for others Archives
November 2017
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