Did you know that with a VA home loan, the seller is required to pay for the termite inspection?
VA home loans can work a little differently than other home loan types, one aspect being the termite inspection. Here are a few requirements that will be helpful to all parties involved:
– The seller is required to pay for the termite inspection (in most cases)
– The inspection cannot be paid in cash and proof of payment must be submitted
– The inspection needs to be signed by both the buyer and the seller
– Some states do not require an inspection at all, and some states have certain counties that are exempt
Take a look at the list below for state specific requirements –
A termite inspection is required and the seller must pay for it in the following states:
Termite inspections are at the discretion of the VA appraiser in these states:
(except for the following counties: Allegan, Barry, Berrien, Branch, Calhoun, Cass, Hillsdale, Ionia, Jackson, Kalamazoo, Kent, Lenawee, Livingston, Macomb, Mason, Monroe, Muskegon, Oakland, Oceana, Ottawa, St. Clair, St. Joseph, VanBuren, Washtenaw and Wayne)
The nine states where VA buyers can currently pay for a pest inspection are:
The only VA loan product that DOES NOT require an inspection is an IRRRL (interest rate reduction loan), also known as a VA streamline refinance.
For more information please feel free to contact us at 844-MDM-4YOU or firstname.lastname@example.org and speak with one of our VA loan specialists