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Everything you’ve described is an inspection. Not an appraisal.
They should find those items on an inspection, but the appraiser will check them on an fha and va loan and make them a condition of closing. Look up va/fha property condition requirements.
Look up VA MPR 2019.
Its always good to stay up to date on lending requirements for different types of loans. And buyer purchased inspections are not required. The VA appraiser is responsible for ensuring it meets MPR standards. And will document deficient items on the appraisal as needing to be repaired a condition of closing
Spottednikes, what I was trying to correct, more than anything, in your post is the bolded pat of my post. This widely held misconception among many in the public that the VA has it's own set of appraisers that come up with different values than conventional appraisers would. That is not true. They're the same appraisers and arrive at value the same way.
As for the rest, I've had stuff get missed and stuff get called out too on appraisal. All types. It just really depends on who you get - And the lender.
I have a buyer for my house that signed the contract with a conventional loan approval with 3 1/2% down and has now sent an addendum to switch to a zero down VA loan. Buyer also wants to add her new husband to the offer to purchase. (He's the veteran and needed on the contract to qualify for VA loan) I am getting mixed answers on two issues I have questions about.
Lender says that VA loan appraisals no longer stay attached to the property for 6 months for any FHA/VA buyers, but information I find says it does. Lender also says there will be no extra closing cost fees to me as the seller, but that also contradicts what I find. My realtor is going to firm up answers to my questions with her in house lender, but is also of the opinion that VA loan appraisals do stay 6 months and there are fees passed to the seller. House is located in NC in case that matters.
Many thanks to anyone who may be able to help clear up my questions for me so I can move forward.
Call your local title co or a local lender and ask for the net proceeds sheet for the subject property usung both a conv loan and a va loan. Their are certain items that the va does not allow buyer to pay. https://www.google.com/url?sa=t&sour...=1565466552797
So my post was re posted and the guy said he would reject me. Etc early on and I see the arguments. He simply said he would deny me because I put zero down on my va loan, despite me offering full asking price minus like a grand for negotiation for a repair.
What’s the logic? I have 800+ credit score. Why should anyone put more down than needed? 3.25% interest rate is free money, you can invest more than that elsewhere. He’s an idiot, like many have said. It doesn’t matter where the funding comes from he’s just on a snob hierarchy mindset. If I used va loan gain I would, absolutely not put any money down again either.
Goodluck guy who clearly hates va loan constituents.
I am sorry to break it to you-- a lot of sellers see a low or no down payment loan as unappealing with a buyer. I wouldn't accept such an offer myself.
I certainly hope you keep your opinions to yourself in your business dealings. Though I imagine many dealing with you are quite aware.
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