Can a veteran pay for a termite inspection on a VA loan in Florida, Texas, or Alabama?In what states can a veteran pay for a termite inspection? As you can imagine, this is a common question that we receive, and in today’s video I will discuss the facts that you need to know in order to help our veterans and Realtors be prepared for your next sales contract negotiation. And remember, as a VA approved lender, we are here to help, if you have any qualifying scenarios or need help with a new pre-qualification, just call or email to discuss your scenario and let us show you the “Metroplex” difference!
(800) 806-9836 X 280 SeanS@MPLX.org
Does the seller have to pay for a termite inspection on a VA loan?As a starting point, many times we hear that sellers are resistant to the VA loan programs because of the concern that they will be required to pay additional fees, but remember that sellers will only pay for what they have agreed upon as part of the sales contract. Further, while the VA program does prohibit the veteran from paying certain charges, this does not mean that the seller automatically has to pay for these items, because VA guidelines state that they have to be paid for by “some party other than the veteran” which could be the lender, Realtor, or even the seller if so negotiated. With that being said, can a veteran pay for a wood destroying insect report, commonly referred to as a termite inspection? Now, while it is true that the majority of states prohibit a veteran from paying for a termite inspection, VA has identified certain states where exceptions apply which include Florida, Alabama, and Texas as being among the states that currently allow the veteran to pay for a termite inspection. While the list of exceptions does vary from the type of fee and state or territory, please consult with your local VA Regional Loan Center for any further questions. In summary, remember the following:
- A veteran can pay for a termite inspection in some states;
- There are certain charges that a veteran may not pay; and
- The seller is only required to pay for what has been agreed upon as part of the sales contract.
- VA Certificates of Eligibility;
- Calculating the VA entitlement;
- Determining VA income eligibility; and of course any
- VA Minimum credit qualifying questions