Thanks for your question!
Termite inspections are generally no longer required in the Northeast unless indicated on the purchase and sale contract. Yes, the seller can contribute up to 6% of the nonrecurring closing costs (that is to say that the seller can't pay for everything - things like tax escrows aren't part of that as taxes recur.) The VA encourages home inspections but it's not required. You may want to consult with our closing attorney - she can review your offer and P&S for you as part of her closing fees.
To obtain VA financing you would need to obtain a COE (Certificate of Eligibility.) If you don't already have one, check this site: http://www.homeloans.va.gov/eligibility.htm and complete an application for a COE (VA Form 26-1880; http://www.vba.va.gov/pubs/forms/vba-26-1880-ARE.pdf ) You'll need to provide a copy of your DD-214 as proof of military service.
Veterans having a service-related disability may be able to get the VA may waive its funding fee.
I would be happy to help you with VA financing - just let me know!
Eagle Nationwide Mortgage Thomas.Stevens@ENMCdirect.com
In regards to the VA appraisal process -- note that they take longer; VA appraisers don't have the same turnaround times as others. So just be prepared for that. Also, they do have stricter guidelines than other loans i.e., I had a case where the home was using well water, but there was town water available so the VA requires hookup, we had to have an escrow holdback authorized and it was a bit of a mess. In this case, having a local reputable lender familiar with VA loans (and has VA contacts) is VERY IMPORTANT. He worked hard to help me work through the mess and we got the deal closed. A 1-800 BIG VA BANK would not have been as helpful, I'm certain.
I always write in that offer is subject to home appraising at or above offer price on all loans but very important for VA loans!
More info in another Trulia post on VA loans: http://www.trulia.com/voices/â€‹Home_Buying/â€‹How
Terrific question and you it is very important that the offer is written correctly. One thing confuses me though and perhaps you can help. Are you buying a "For Sale By Owner"? It sounds as though you are, otherwise, if you had a Buyers Agent they would know the answer to your question.
Having said that Nancy - If you are dealing directly with the owner if it is YOUR best interest to hire a Buyers Agent to represent you. Here, I don't mind, Let's get together and learn if hiring me as your Buyer's Agent would make sense.
Please call me and let me know which is best for you to meet - Afternoons or Evenings: 508-479-9833.
Sincerely and with Warm regards,
Mary Condon, MBA