Help VA Appraisers.... Any experts in here that really know the handbook I need help

[Tiffany Gibbons]

Well, this one is new construction in an area you would know. I won't share the address. My lucky day. I will give you a hint. South of Cooper Young near Lamar. Let's say South Memphis. One contract has already fell through on it. Homes around it predominantly built in early 1900's. I just appraised one not too far away from it though. It is just over priced.

It won't be that hard to handle the tidewater. The POC emailed back she is out of office til Monday. She will get with real estate agent and get back to me early next week. They really only have two business days but I sometimes give them an extra day before I finish the report. It is a nice house. New construction. It has some stuff around it. Some of it really bad stuff. That is kinda the way South Memphis can be.

I don't have to tell you that.

I think somebody already stole the oven/range out of it. The HVAC unit was still there with like metal bars around it.

Well, it's close enough to Colletta's to pick up a barbecue pizza, so there's that! Mike is teaching our ASA chapter classes In early February, I think. PM Dale Floyd for the details.

 

[Tiffany Gibbons]

Because FNMA said so when they wrote the form, and the client requires its use. 100% agreed it shouldn't be.

Not your client. Your client is VA, not Fannie. Do what they said. If the Lender wants it, it is on them to supply it on the front end. VA runs the show, not the Lender.

 

[Zoe]

Not your client. Your client is VA, not Fannie. Do what they said. If the Lender wants it, it is on them to supply it on the front end. VA runs the show, not the Lender.

The VA can be real salty. LOL

Do you understand what I just told you? Okay.

Do you want your borrower to get a VA loan? Okay.

Salty.

 

[Zoe]

I tell many veterans it is VA's way or the highway. They laugh. They already know.

VA is not the only option on a mortgage for a veteran. VA will let the lender know that plain and simple. Salty.

 

[Zoe]

Did I tell you VA needed no bailout?

Am I being salty?

I know some abuse claims happen in the system. I have heard too many vets speak of abuse in the armed forces. I am aware of that.

Some of the claims are most likely true in the armed forces.

 

[Zoe]

VA mortgage loan system is a little different than VA armed forces system but some similarities.

VA healthcare system is different from mainstream. A veteran is fortunate if they can get VA healthcare and a VA loan.

VA is the co/client for the appraisal. VA is in charge on the loan.

But you see the similarities. I am not a veteran but veterans understand very well.

 

[Digger88]

I get my info from MLS tax when there is no condo questionnaire. Number of units, number not owner occupied, phases, units in subject phase, total parking guesstimate and wait for the correction which almost never comes and cite your source

 

[Zoe]

I get my info from MLS tax when there is no condo questionnaire. Number of units, number not owner occupied, phases, units in subject phase, total parking guesstimate and wait for the correction which almost never comes and cite your source

Condos can be very easy in a big development. If it is not new development, you can get all of your comps in the same development many times for VA, FHA, conventional, etc.

You have to be careful on like rentals and vacancies and such. But some don't even allow rentals.

 

[Zoe]

I did some new developments in downtown Memphis where they were converting old hotels and/or warehouses into condos. That was not easy.

I got paid well on the jobs.

There are some very nostalgic and historical buildings in downtown Memphis. Hope an earthquake don't hit nearby some of them. They wouldn't survive a major one.

 

[TerryRohrer]

https://www.occ.gov/static/enforcement-actions/eaAA-ENF-2024-96.pdf?fbclid=IwZXh0bgNhZW0CMTEAAR28ExGPKDbwnS6ttB_xagq4f73GSluxHPkjXIhccTInKA8GdeXF7AV-79Q_aem_lczwKtM6cmUxcmrcxmUJRw

https://finance.yahoo.com/news/minefield-own-making-usaa-investigation-113200093.html