What are the VA Minimum Property Requirements?
VA Minimum Property Requirements
Marketable Real Estate
A single dwelling (which can comprise a multi-family property with up to four units), that is found to be residential real estate and in habitable condition is necessary.
Space and Construction Requirements
The property is ideal for you and other residents to live, sleep, cook, and eat on a daily basis. There must also be sanitary facilities.
Access
The house must be accessible at all times, whether by car or by foot. Either a public or private road provides access.
Encroachments
Fences, garages, and other constructions that cross the property line are examples of encroachments.
Drainage and Topography
The drainage rules are exactly what you’d anticipate. Sewage and surface water must flow swiftly and efficiently off your property. On your land, water cannot collect and form ponds.
Geological or Soil Instability, Subsidence, and Sinkholes
These concerns stem from the geological threats provided by your location. The only thing worse than your inspector finding them is not finding them at all.
Special Flood Hazard Area
You won’t be able to get a VA loan if you want to buy a home or land that floods frequently. Some limits apply even in high-risk zones.
Non-Residential Use
The minimal ownership requirements for Veterans’ Affairs do not prevent you from purchasing a property with non-residential structures. Certain restrictions apply, and the property must be purchased largely for residential purposes.
See more at:
• VA Appraisal Schedule
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