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Registered: ‎02-01-2012
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VA loan home inspection question. I'm mildly freaking out!

We just submitted an offer on a home today. This is our first home and I am on pins and needles!! Now, naturally, I am fretting about all the things that can go wrong and I just had a terrible realization. The home is older but seems to be in good condition, but the screened in porch that is attatched to the home is a bit crooked (there are a few storage closets in the porch and the doors are cut straight to the floor, so it appears that it has always been a bit crooked, if that makes sense) and there is a soft spot on the floor under the carpeting. Our offer was low, and even if we negotiate a bit, we would be getting a good deal, so my line of thinking was that my father (who is super handy and does a lot of renovations and building himself) could fix that, no problem. Well, now I am worried about the home inspection! We are getting a VA loan and I have been reading all sorts of horror stories about the inspection process.

 

The second worry is the basement. We were hit hard a few years back by a freak storm and this area was without power for weeks. The basement of that home flooded, they did not have power, and there was some water damage. The owners rectified the situation by repairing the damage and installing a permanent sump pump. I am no expert, but it looked okay to me (and my realtor). The basement did not appear to have any visible damage, and it did not smell musty. That flooding was a one time occurrence, and many, many homes in the area had flooded and/or water damaged basements.

 

So.....Do these things seem like they would be a huge deal for a VA inspection? 

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Re: VA loan home inspection question. I'm mildly freaking out!


lwestling wrote:

We just submitted an offer on a home today. This is our first home and I am on pins and needles!! Now, naturally, I am fretting about all the things that can go wrong and I just had a terrible realization. The home is older but seems to be in good condition, but the screened in porch that is attatched to the home is a bit crooked (there are a few storage closets in the porch and the doors are cut straight to the floor, so it appears that it has always been a bit crooked, if that makes sense) and there is a soft spot on the floor under the carpeting. Our offer was low, and even if we negotiate a bit, we would be getting a good deal, so my line of thinking was that my father (who is super handy and does a lot of renovations and building himself) could fix that, no problem. Well, now I am worried about the home inspection! We are getting a VA loan and I have been reading all sorts of horror stories about the inspection process.

 

The second worry is the basement. We were hit hard a few years back by a freak storm and this area was without power for weeks. The basement of that home flooded, they did not have power, and there was some water damage. The owners rectified the situation by repairing the damage and installing a permanent sump pump. I am no expert, but it looked okay to me (and my realtor). The basement did not appear to have any visible damage, and it did not smell musty. That flooding was a one time occurrence, and many, many homes in the area had flooded and/or water damaged basements.

 

So.....Do these things seem like they would be a huge deal for a VA inspection? 


The inspection isn't what you have to worry about, it's the appraisal (which is an inspection, but making sure terminology is correct). Inspection is the tool between you and the buyer to negotiate for the price and will have no bearing on your VA approval. The VA cares about three things, clear termite (section 1 & 2), appraisal, and eligibility. Basically if the appraiser notices issues, such as compromised structure, chipping peeling paint, or something else that compromises the safety of the house, they will call it out, and it will have to be fixed before they approve the house. The only issue I would think (and I'm not an expert) would be an issue is the soft spot in the floor. If he notices that, he will require it to be fixed prior to approving it for the VA.

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Re: VA loan home inspection question. I'm mildly freaking out!

Thank you for your response. :smileyhappy: Okay, so this soft spot would not be a deal killer? It would just have to be fixed before closing. Whew. I feel a little bit better about that.

 

This home buying business is not for the weak, that's for sure!

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Re: VA loan home inspection question. I'm mildly freaking out!

[ Edited ]

lwestling wrote:

Thank you for your response. :smileyhappy: Okay, so this soft spot would not be a deal killer? It would just have to be fixed before closing. Whew. I feel a little bit better about that.

 

This home buying business is not for the weak, that's for sure!


it's hard to say without seeing it... don't get me wrong, it COULD be ... but it depends on how bad it is and what the appraiser thinks, it's ultimately up to him. and if that causes you to fail, you can negotiate w/ the seller to fix it, since most FHA and VA appraisers would call out the same problem

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Re: VA loan home inspection question. I'm mildly freaking out!

I'm a lender that specializes in VA home loans, so pretty familiar with this stuff.  Couple things to remember when it comes to VA:  1.  The VA "appraiser" is there to a, provide the data for an official (LAPP) to determin the value (with VA, it's called a "Notice of Value"); b, ensure that the Veteran is getting a home that is sound.  They're there to protect the Veteran.  2.  The VA appraisal process is also called an "inspection" because they're at the home to make sure that there are no "health & safety" issues.  Should they find something that is of concern, they'll require it be repaird before the close of escrow.

 

So, as long as the items can be repaired, there shouldn't be an issue.

 

The VA Loan is a wonderful benefit to those who served our great nation.  Thank you to the Veteran who served.

 

Good luck:smileyhappy:

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Re: VA loan home inspection question. I'm mildly freaking out!

I agree, the appraisal and termite report are the most important things with the VA. No home inspection is required with the VA. The appraisal will determine the value of the home and if its =or > your offer then you are okay.

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