The second part of the VA appraisal process is determining whether a home meets the VA’s Minimum Property Requirements. The VA appraiser will assess the interior and exterior of the home and make note of issues that will need to be repaired before the loan can close. The appraiser’s evaluation is not a home inspection, however. A home inspection is a much more detailed look at a property and while it’s not required for a home purchase, it’s highly recommended. The VA Minimum Property Requirements are extensive and detailed, but here is an overview. There must be safe access to the home from the street or a private driveway.
The home must have enough space for living, sleeping, cooking, and sanitary facilities.
The plumbing and electrical systems should be functioning properly and safe to use.
There must be a continuous supply of safe water for drinking, bathing, and sanitary uses, access to hot water, and sewage disposal. There must be a permanently installed heat source capable of maintaining a temperature of at least 50 degrees Fahrenheit in areas with plumbing.
The VA defines this as providing "reasonable future utility, durability, and economy of maintenance." It should be free of any holes or missing shingles. The basement or crawl space should be easy to access and be clear of debris and moisture. The home must be free of issues like radon and asbestos. These problems will need to be resolved before your loan will be approved. For homes built prior to 1978, lead-based paint is presumed to be present. Any cracked or loose paint must be remediated. No defective conditions including poor construction or workmanship, settlement/structural issues, rot and decay, and leakage.