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Help VA Mpr

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Kristen007

Freshman Member
Joined
Jan 13, 2018
Professional Status
General Public
State
Maryland
Hello we put an offer on a house and we are wondering if we should walk away. My realtor doesn't seem to be VA savvy.

We had an inspection. There are roof issues. The roof is 21 yrs old and shows signs of flashing and prior water damage, that the trusses are compromised with large splits running through them. The inspector recommends the the roof be replaced and we get a truss engineer in. The inspector says the gas furnance needs to be replaced because it is short cycling, and the a/c condenser did not work. There appears to be a leak running from the 3Rd floor bathroom to the basement. We are willing to fix some issues ourselves, but not the roof. Will the a VA appraiser approve this home in your opinion or should we walk away.
 

Tom D

Senior Member
Gold Supporting Member
Joined
May 22, 2015
Professional Status
Certified Residential Appraiser
State
Pennsylvania
do you hear yourself, how big is your savings account for a new roof, etc. FHA wouldn't approve it. with so many visual problems, i can't wait for the other problems to show up after you move in. every house has problems, but this one may have more than average maintenance issues that will you will discover after you move in. start fixing one problem, and you get lead to the next one that you couldn't see. i almost passed out after settlement to actually see the condition of my home. of course after 20 some years living there, then gutted and everything new inside with a new front i am very happy with it now.
 

Kristen007

Freshman Member
Joined
Jan 13, 2018
Professional Status
General Public
State
Maryland
Thank you Tom. I said the same thing. My realtor keeps pushing it because it's in a good area (1st time home buyers). He also said the VA will do a visual on the roof and will most likely miss the issues. I am worried that this will be a money pit. I love the town but we are single and can live in a better structure for less elsewhere. We asked for 10k for repairs today. I have a feeling they will say no then I will be happy to walk away and go with a new build.

do you hear yourself, how big is your savings account for a new roof, etc. FHA wouldn't approve it. with so many visual problems, i can't wait for the other problems to show up after you move in. every house has problems, but this one may have more than average maintenance issues that will you will discover after you move in. start fixing one problem, and you get lead to the next one that you couldn't see. i almost passed out after settlement to actually see the condition of my home. of course after 20 some years living there, then gutted and everything new inside with a new front i am very happy with it now.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Thank you Tom. I said the same thing. My realtor keeps pushing it because it's in a good area (1st time home buyers). He also said the VA will do a visual on the roof and will most likely miss the issues. I am worried that this will be a money pit. I love the town but we are single and can live in a better structure for less elsewhere. We asked for 10k for repairs today. I have a feeling they will say no then I will be happy to walk away and go with a new build.

Let the lender and the ask the lender to let the VA Appraiser know what you have found. Also, ask if you can be present when the VA Appraiser inspects the property. If they say no the, as the song says...."Just walk on by" The very purpose of a VA Appraisal and MPR's is to protect the Veteran. I would NOT agree to py part of any MPR expense.

Been doing VA Appraisals since January 1992.
 

Atlanta CG

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
The agent is supposed to be working for you, not himself.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Walk and find a new Realtor if he\she keeps pushing it. I know the agent is supposed to work for you but they are worrying about their commission. I' d make sure the appraiser knew all the details and don't expect them to be home inspector or engineer if you do continue. Look for smaller home in better condition if price limited
 

Kristen007

Freshman Member
Joined
Jan 13, 2018
Professional Status
General Public
State
Maryland
The home owner hired a contractor without our prior knowledge to access how much it would cost to fix major issue. We will probably walk away this week and put a contract on a new build which is a whole different animal. Thank you for all your advice.
 

TRESinc

Elite Member
Joined
Dec 1, 2011
Professional Status
Licensed Appraiser
State
Ohio
step 1. get a new agent. the one you are working with now does not have your best interests at heart. telling to buy a house with structural issues and hoping the appraiser "misses" some items in need of repair should raise a huge red flag.

step 2. look for a different home. new construction presents it's own headaches for buyers (nothing in life ever runs smooth when this much money is involved!) but like a new car it does come with a warranty and you get to pick the finish of everything. incidentally also like a new car don't go super crazy with options. pick the ones you think you will get the most use/enjoyment out of. one of my favorite lines - no buyer has ever looked at a "used" house and said they had to have it because it had level 2 or level 3 cabinets!
 
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