Updated almost 8 years ago on . Most recent reply
Buying a home with VA loan
Hey all!
Possibly going to buy our first live-in flip through the VA. We are fully aware we must live on the property for at least 12 months before selling. Anyways, my question is:
How distressed of a property has everyone bought through the VA? Just trying to get a good idea of what to expect from the appraisers/inspectors.
Most Popular Reply
#2 Real Estate Agent Contributor
- Real Estate Broker
- Coppell, TX
You should get with your lender and see if they can get you the VA inspection guidelines. Fixers normally don't work. The house typically has to be in good shape. They don't want you living in junk, they want you living in a decent place.
This might be a bit dated, but will give you an idea.
https://www.benefits.va.gov/roanoke/rlc/forms/ci_g...
Looks like Chapter 5 is where you want to go.
So if you just need cosmetics ...then that is a way to go. If you're talking extensive work...structure, etc...maybe not so much.