VA loans

VA Appraisals And Electrical Systems In The Home: A Reader Question

June 27, 2014

VA Appraisals And Electrical Systems In The Home: A Reader Question

049-logoA reader asks, “I just bought a home using a VA Loan and just found out that the electrical circuits are not grounded. Is this something that should have been discovered at the time of the appraisal?”

The answer depends on the expertise of the VA fee appraiser. The VA appraisal is not intended as a complete, top-to-bottom home inspection and just because a property has passed a VA appraisal does not guarantee that the home is free from defects.

For a more complete look at a home’s condition, the buyer is always encouraged to pay for the optional, but quite important, home inspection. A home inspection is not required as a condition of VA loan approval, but no borrower should commit to the purchase of a home without paying to have it inspected.

VA appraisers are not required to be experts in any one area of the property, they aren’t required to step out onto the roof, and they aren’t necessarily going to disassemble parts of the home’s electrical system or appliances.

The appraiser’s job is to make sure the home lives up to VA minimum property standards and establish the fair market value of the property. But a more thorough review of the home would be required in order to determine its condition and whether there are defects present that might not be apparent during the VA appraisal.

Borrowers can hire an independent home inspector by searching local listings for their services. The VA doesn’t have a list of inspectors, but you can find plenty of inspection services by searching the local business directory, Chamber of Commerce, etc.

Do you have questions aboutĀ VA home loansĀ or refinance loans? Ask us in the comments section.

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