VA Property Preservation Contractors Should Follow Local Code Requirements

Share Button

6. Local Requirements.

Holders must ensure compliance with all city, county, or other ordinances concerning property preservation. Most security instruments have a provision that permits the holder to take action to protect the property securing the loan, to advance any reasonable amount necessary and proper for the maintenance or repair of the security, and to add such an advance to the guaranteed indebtedness. The removal of hazardous materials, the correction of hazardous conditions, and the avoidance of liens are primary concerns. In order to avoid liens, whenever local codes require more extensive protection than stated in the VA guide, holders should follow local code requirements.
Mr PreservationMr P. Says: Inspectors and Contractors are responsible for following “all city, county, or other ordinances concerning property preservation.” And, inspectors and contractors are responsible for “the removal of hazardous materials, the correction of hazardous conditions, and the avoidance of liens.” Always keep in mind that you are the one on-site and you are the one with the responsibility to find, document, report and correct as requested.

Share Button

Comments are closed.