A VA appraiser conducts a property inspection and determines that the roof needs replacement. The appraiser issues a notice of value subject to the roof being repaired. Under VA minimum property requirements (MPRs), what must happen before the loan can close?
Correct Answer
C) The seller or another party must repair the roof to meet VA MPRs, and the appraiser must verify the repair before closing
VA minimum property requirements must be met before the loan can close. If the appraiser identifies deficiencies, the seller, buyer, or another party must make the necessary repairs. The appraiser or a qualified inspector must verify that the repairs were completed.
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