VA removes private road and shared driveway hurdles for Veterans
Private roads and shared driveways, especially non-paved surfaces such as dirt or gravel drives have been a hurdle for Veteran buyers for many years. The VA Lender Handbook required that the Lender (and Veteran by association) document that the private road or shared driveway had an existing maintenance agreement so the Veteran has proper access to their property.
Documenting the private road or shared driveway was accomplished via Homeowners association maintenance agreement, or a joint agreement with the owners of other properties accessed by the private road or shared driveway. Surprisingly, many of these properties had no formal maintenance agreement in place, creating both a time and cost burden for the Veteran, as they had to work to get an agreement in place.
The VA has announced a new option to help Veterans through this without creating additional delays or costs.
The maintenance of a private road or shared driveway is documented in 1 of 3 ways:
- Homeowners Association maintenance agreement
- Joint Maintenance agreement
- Existing state laws regulate the maintenance of shared drives and private roads
Or the new way to clear this: The Veteran may request a waiver from the VA for properties where a joint maintenance agreement does not exist for the private road or shared driveway.
We are excited that the VA has recognized the hurdle this created, and VA buyers are now able to easily work through this simple task when purchasing a home with a private road or shared driveway. Thank you VA!
Questions about the property you are purchasing and VA guidelines? Give us a call at 760-752-4480 (or text). We are happy to help.