When are VA Termite Inspections Required?
A termite inspection is waived on a VA IRRRL (streamline) refinance. It is required on a purchase and a cashout refinance. If the property is a low-rise or high-rise condo its only required if the appraiser notices a potential issue. If there is active infestation by pests (Section I) it would require all items referenced on the termite report to be corrected. Items such as peeling paint and leaking pipes would be considered as (Section II) and that would be at the underwriter's discretion to condition for repair. If you have any further questions or concerns please contact me.
Best,
Shawn Sidhu
Keller Williams Realty Acadiana - Lafayette, LA
Realtors/Career Consultant
Great and very useful information that can certainly help alot of buyers. Thanks for sharing.
Apr 30, 2015 12:47 PM
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Shawn Sidhu
San Jose, CA
Intero Real Estate Services - Sunnyvale, CA
Sunnyvale CA Real Estate Specialist
Hi Shawn, I knew it was required for purchase and cash out refi, but I didn't know it was waived on a streamline refi....very interesting, thanks for sharing!
Apr 30, 2015 12:55 PM
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Shawn Sidhu
San Jose, CA
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