In Rome, New York, 50 volunteers turned up to remodel Robert and Cathy Ross's home. Bob Ross, a US Army veteran was chosen to have a remodel courtesy of Sears. Bob has served 22 years in the army. And now, he has two sons who also decided to follow his army footsteps. "One of my sons served 13 years and the other did seven," Ross adds. One of his sons was recently awarded a Bronze Star for his bravery in Iraq.
In 1988, Sears started the Sears Heroes at Home Program to help fix veteran's homes. After remodeling 100,000 homes, it is now Bob Ross's turn. The 50 volunteers came to help the organizers from Rebuilding Together Mohawk Valley who helped secure the funding for the one day remodel. The happy couple was both very excited especially that their bathtub was replaced with a walk-in shower. "When you're on oxygen, you get really, really tired and they're putting in instead of a bathtub, it's a shower and when you have to look about stepping over a bathtub, most people don't realize how heard that is when you can't breathe," says Cathy Ross.
Now if you are using your VA loan to remodel or update your home, here's a couple of useful tips before you buy, build or fix anything.
1. Get a warranty. One of the most crucial parts of constructing a home is the warranty. A ten-year warranty is required if (1) the home is proposed or under-construction or (2) the local authority did not conduct construction inspections. If this isn't your case, then your builder must provide you a completed VA Form 26-1859 (Warranty of Completion of Construction). This form should say that your builder is giving you a one-year VA builder's warranty. At the same time, the purchaser must also acknowledge that he/she is aware that the VA did not perform any inspections of the property during the construction by submitting a written statement.
2. Make sure that your builder has a valid VA Builder ID. The builder must provide a valid VA Builder Identification Number for properties appraised as "new construction" or "under construction" before a VA notice of value is issued. The VA Builder ID is a requirement based on the Construction and Valuation Section (C&V) of the VA Loan Guaranty Program.
3. To be eligible for appraisal as real estate, a manufactured home needs to be installed on a permanent foundation in compliance to VA requirements.
No comments:
Post a Comment