Last night we taught another of our classes, "How to Buy a Home with Your VA Loan". The myths and misconceptions and just-plain-bad information surrounding this fantastic military benefit still amaze me. I've been doing this for years and it shouldn't surprise me, but it always does.
The most widespread mistake we hear of is that the "VA Inspector" will watch out for the military homebuyer. Therefore, why should you, the VA homebuyer, hire an independent, private home inspector?
ARGGGG!!!! There is no VA Inspector!
The Veterans Administration hires and assigns a VA appraiser. The appraiser's job is to make sure that the home you are buying fits within the VA's guidelines, and that the house is worth the money the bank is loaning you.
The VA appraiser is NOT going to go in the crawlspace to make sure there are no carpenter ant infestation. The VA appraiser is NOT going to climb into the attic to look for leaks or mold. The VA appraiser is NOT going to take the front off the electrical panel to look for fraying wires, or over-populated circuits.
The VA appraiser will typically spend perhaps 10 to 20 minutes at the home you are going to purchase. The VA appraiser will usually take some measurements of the home, walk through the inside and walk around the outside. They will probably take some photos. A really thorough VA appraiser might bend over and look inside the crawlspace access door.
A professional home inspector will spend three to four hours at your new home. They want you there with them, so they can show you what they are seeing. He or she will check all the wiring, all the plumbing, the roof, the attic space, the crawlspace or basement. They will look at the floors, walls, ceilings, foundation, appliances.
A professional, independent home inspector works for the you, the homebuyer. His or her only job is to tell you the true condition of the home at the time of the inspection. The inspector does not care what you are paying for the the house. They only care that you make an informed decision about the home you are buying. For less than the price of a new dishwasher, why would you not hire a professional home inspector?
I always advise my clients to get a home inspection. In fact, let's make the purchase of the home "Subject to" approval of a professional home inspection. I would rather have my clients find out about the bad roof or improper drainage or mold in the attic prior to closing, than find out three months later when it is often too late.
Please, know the difference between a VA appraiser and a home inspector. They both have value and a place in the real estate transaction, but they perform entirely different functions. Use them both!
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