So we finally have our first fix & flip under contract hooray! It is a VA loan and the realtor tells me that the VA uses their own inspector and that there is no wiggle room if they find a flaw we either fix it or walk away from the seller. No negotiations. We just did a major upgrade, update and replace on just about everything. We have been told the home looks flawless but I still wonder should I be nervous is there anything specific the inspector will look for do they tend to be easy or nit-pickers? I'm so ready to finally say we have one under the belt I just want to be proactive. They have 10 days to inspect and 2 days to make a request known, so that helps at least they can't drag the inspection out for 2 or 3 weeks. I'm just antsy I guess....been waiting two months for the house to sell.
Does anyone have an experience with a VA inspector that they would like to share? Maybe just words of encouragement would be great right about now.
It really just depends on the inspector you get and how picky they are personally.
I'm sure you did a good job though so I wouldn't worry about it.
It is true that you would need to fix any health or safety issues or VA/FHA loan wont work.
Thanks for your response @Austin Youmans I have confidence that there are no safety or health issues (lol one of our first tasks was bagging the leaves and even some dirt between our house and the little old lady next door due to MOTHBALLS and the awful eye burning smell they put off...it seems she had the notion that mothballs scared off snakes - and since the property had sat empty for several years there were LOTS of mothballs (both whole and partially deteriorated) - but thankfully they are gone and I would know - turns out I'm very sensitive to them. So yeah I think that it will go smooth just counting down the days until the biggest worry is closing delays.
VA has the lowest income/asset/credit standards of them all. They compensate for this with the highest property standards there are. If you did high quality work, you shouldn't have to worry about it. I used my VA loan entitlement to purchase a house that hadn't been updated in 30 years.
Comprised of two things:
- VA appraisal. VA appraisers are a little nitpicky.
- Pest report. Need to clear section 1 items.
@Julie Doke I got my home via VA. From the buyers stand point I took comfort in knowing that the seller was not going to get away with too much if anything. I wasn't disappointed, with the list of of items to clear.
Being my first real estate trans action...kinda felt like someone was watching out for me. If you did the best you can with the property, I'm sure he/she will clear it.
Keep in mind there is no such thing as a VA inspector. The Appraiser is the person who ascertains in the property meets the minimum standards to qualify for Veterans Administration guaranteed financing. Some of the inspected items are:
- Does the property have electricity, water and sewer and is it accessible via a street
- Heat source is required but a/c
-Roof must not leak although this is a visual inspection only
-Mechanicals must operate and be safe
-No peeling paint
NO ONE SHOULD EVER RELY ON THE APPRAISER IN LEIU OF A PROPERTY INSPECTION
Looks like we have a clear path to the closing table. thanks everyone!
The most common issue I see come up with VA/FHA appraisers is handrailings on stairs. It isnt really a big deal, but they often have to be added to a staircase that doesnt have one.