Home Buying in 32904>Question Details

Sue N, Home Buyer in Brevard County, FL

I have a VA loan. Who pays for the inspection? Thank you

Asked by Sue N, Brevard County, FL Sun May 13, 2012

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VA Loan Rules for Termite Inspections

Termites and what the VA labels "wood-destroying pests" can be a serious problem for home owners, buyers and sellers. House hunters often worry about the condition of older homes when it comes to these pests--in some cases rightfully so. How can an untrained observer tell whether or not a home has been damaged or infested by termites or other pests?

According to some experts, it's very difficult to spot unless there's obvious damage or infestation. Fortunately, VA loan rules are designed to protect the buyer and the property the VA borrower wants to purchase.

According to the Department of Veterans Affairs, "Termite inspections are required on existing properties if they are located in an area where the probability of termite infestation is "very heavy" or "moderate to heavy" according to the Termite Infestation Probability Map published in the International Residential Code."

If a borrower wants to buy a home in a region where termite problems are considered light or where such problems rarely occur, there is no requirement to have a termite inspection perfromed. Borrowers concerned about the home they want to buy would have to schedule an inspection, or contact the VA for assistance.
Reference Link:http://valoanguidelines.org/
3 votes Thank Flag Link Tue May 5, 2015
Experienced house hunters know they'll be required to pay certain fees and expenses which are typical of the home buying experience. Those expenses include paying for a VA assigned fee appraiser to look over the property an applicant wants to buy.

Unfortunately the appraisal is sometimes not a one-step process--the appraiser may find areas which need correction or repairs.

These must be addressed to the satisfaction of the VA before the loan is closed or within a reasonable amount of time as described in VA regulations.

Click Here For Info: http://vastreamlinemortgage.net/
1 vote Thank Flag Link Thu May 14, 2015
If you are talking about the home inspection, then you would pay. If you are talking about the VA appraisal inspection, then you would also pay. If you are talking about the Pest inspection, then technically you are not allowed to pay.

Also, I see other agents have chimed in that you can negotiate on your sales contract for the seller to pay the home inspection fees. while they are 100% accurate, if you mention that this is the case, the home inspection would have to be on the settlement statement. If the home inspection is on the settlement statement, the lender will want to see a copy of the home inspection - this will never end well, as the lender will most likely want all of those items repaired prior to closing. Since the lender does not typically review the settlement statement until a day or two prior to closing, this will certainly cause delays or worse.

My advise would be to pay for your own home inspection.
1 vote Thank Flag Link Thu Aug 16, 2012
First thank you for your time in the service. I also, served in the Marines for 4 years. Typically you the Buyer will pay for the home inspection unless otherwise stated in the contract.
0 votes Thank Flag Link Fri May 18, 2012
The buyer usually pays for all inspections.unless it is negotiated in the contract for the seller to pay. If I can be of further assistance feel free to contact me.

Joan Willis
Brevard's Best Realty, Inc.
0 votes Thank Flag Link Mon May 14, 2012
Typically you would pay for the home Inspection.
0 votes Thank Flag Link Mon May 14, 2012
If you have your real estate agent negotiate your purchase contract to where the seller is paying your closing costs, you can include the inspection invoice & have the seller reimburse you for the cost at closing.

All the best,

Roswell Moore, CMPS
Certified Mortgage Planner
480-422-5095 direct

We are a Direct Lender, Mortgage Bank where we originate, process, underwrite, fund, AND SERVICE our loans, in-house, with FHA (starting at a 580 score AND still only 3.5% down), FHA Streamline loans (NO minimum credit score, NO appraisal required) Go Green rehab loans, HomePath, Investor Friendly (10 financed properties), VA, USDA, Jumbo, Conventional, plus, we allow Escrow HoldBacks!
NMLS ID 263779 | AZ BK 359295
0 votes Thank Flag Link Sun May 13, 2012
The Buyer pays for the home inspection and if needed septic and water test.
If your real estate agent adds to the contract for Seller to pay your closing cost then you may be able to have the inspection billed to closing .
It is wise for Buyer to order the inspector after doing your research so he works for you. They will tell you what needs to be repaired prior to closing. They will also give you advise on what may need repair further down the road.
Good luck with your new home. Brevard is a great place to live.
0 votes Thank Flag Link Sun May 13, 2012
From what I have been told they pay for the termite inspection but if you want a home inspection thats on you
0 votes Thank Flag Link Sun May 13, 2012
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