Strict loan repair requirements include wood rot and pest damage. Not getting these fixed can delay your closing and cost you thousands.
You’d be surprised at how something as small as a patch of wood rot can put an entire home sale at risk. I recently had a VA buyer who ran into this exact problem. The home passed the termite inspection with no issues, but when the VA appraiser walked through, he spotted a minor wood damage on the trim. That small detail was enough to trigger repairs and slow everything down.
What happens when it’s flagged. When a VA appraiser notes damage, the house cannot move forward until it’s fixed. In this case, the appraiser required the repairs to be made before he would sign off on the value. That meant the seller had to handle the work, and once it was complete, the appraiser needed to return for a reinspection. That reinspection cost the buyer around $150 to $200 and delayed the process by several days. While the repair itself was minor, the timing and added steps made the transaction more stressful for everyone.
Why sellers should pay attention. Sellers often underestimate how these small issues can snowball. In this situation, the seller initially refused to do the repairs. Fortunately, the listing agent and I worked out a solution and split the cost, allowing things to move forward. If the seller had addressed the wood rot before listing the property, none of this would have been necessary. A simple walkthrough of your home, checking window trim, siding, and doors for damage, can prevent last-minute surprises that disrupt a sale.
“Taking care of small details ahead of time helps keep your property attractive and the transaction smooth.”
The takeaway for buyers and sellers. For VA buyers, it’s essential to understand that the appraisal process is more stringent than for most buyers. Even minor items can hold up closing. For sellers, taking care of small details ahead of time helps keep your property attractive and the transaction smooth. Real estate deals often hinge on details that seem insignificant at first glance, and wood rot is one of those details that can stop everything in its tracks.
If you’re planning to sell and want peace of mind, I can conduct a quick well-check of your property before you list it. I’ll point out areas that may cause problems later, so you can address them now instead of during a sale.
Call or text me at 512-587-4050, email [email protected], or visit savvyreg.com. Let’s ensure your home is ready to sell and won’t be held up by something that could have been prevented.