When using VA financing, all repairs need to be completed and escrowed funds must be distributed before VA will guaranty the loan. This is why home lenders may require the repairs to be completed before closing or within a short window after closing. If you are a Veteran who is thinking about purchasing a home that needs repairs, contact me first to discuss what you should consider!
Related Article Title: Will VA Allow a Purchase Price Increase After the Appraisal is Complete? Question: Can a purchase price be increased after the appraisal so that the seller can fund a holdback for repairs? Answer: VA has no prohibition against altering a sales price after the appraisal is done. But there are a few […]