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Pamphlet 26-7 Chapters 13

13.06  Notice of Value Conditions and Requirements, Continued

 

Table of NOV Conditions & Requirements (continued)

 

NOV Item

Instructions for Preparing the NOV

Wood Destroying Insect Information

Check the appropriate items if the property is located in an area where the probability of termite infestation is "very heavy" or "moderate to heavy" according to the Termite Infestation Probability Map published in The Council of American Building Officials (CABO) One and Two Family Dwelling Code. 

 

Note:  If there is a question about the location of an infestation probability boundary line in relation to the subject property, contact the VA office of jurisdiction to determine if this requirement is applicable.

 

Additional Requirements

·   In cases processed as “New Construction,” the builder can meet the requirements for either “existing construction” or “proposed or under construction.”

·   The pest control operator must meet all requirements of the State in which the property is located.

·   In States which require the use of a State inspection form in all transactions, the State form is acceptable for VA loan guaranty purposes.

·   Inspection reports are valid for VA purposes for 90 days from the date of inspection.

 

References:  See Section12.06.

Lien Supported Assessment

Check the appropriate items and provide the required information, if applicable.  Generally, this involves only units in a planned unit development or condominium.

 

References: 

·   Item 3 on the NOV

·   Chapter 16, Section B.

 

Continued on next page

January 1, 2001                                                                                                                                     13-13


VA Pamphlet 26-7, Revised                                                               Chapter 13:  Value Notices

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