VA Pamphlet 26-7 Chapter 12, Topic 21: Defective Conditions

Document
VA Lender's Handbook, VA Pamphlet 26-7
Version in Zeitro Strata
Where
pages 305–306 of 461

Page 305

Topic 21. Defective Conditions

October 18, 2019

This Chapter has been revised in its entirety.

Page 306

a. Definition

Conditions which impair the safety, sanitation, or structural soundness of the dwelling will cause the property to be unacceptable until the defects or conditions have been remedied and the probability of further damage eliminated. The integrity of the envelope of the structure must not be compromised.

b. Appraisals "Subject to" Repair of Defective Conditions

Appraisals must be prepared “subject to” the repair of any defective conditions with the contributory value of the completed repair included in value.

c. Examples

Examples of defective conditions include:

defective construction,

poor workmanship,

evidence of continuing settlement,

excessive dampness,

leakage,

decay, and

termites.

Guideline text quoted as published by the agency. The latest published version governs. This is not an underwriting decision.