VA - Liquidation Addendum

[Mike Garrett RAA]

Liquidation assignments carry a slightly higher fee.

From this post, and others, concerning VA appraisal requirements it is clear the VA needs to have orientation classes for new panel members. I can't tell you how many appraisers new to the panel call me all the time for guidance. I don't mind helping but that really shouldn't be my job.

We should also push for the return of the annual meetings. Was told those cost too much. Cost too much for whom? My regional office is in Denver. I pay for my travel cost and it's my time away from my office. Having those face to face meetings should be an important part of the process.

 

[gregb]

Per the Phoenix Regional Loan Center, the "Liquidation Addendum" is no longer to be used for liquidation appraisals. Per discussion with the SAR, though, all of the items on the Liquidation Addendum are to be included in the appraisal, just not on the "Liquidation Addendum" form.

 

[DonRico]

Mike G --

My Orientation Meeting was July 17 at Newark NJ. There were 7 other new Appraisers in the Room representing all of NJ, the 5 Boros in NYC and Western Connecticut. The 2.5 hours was very generic. If that meeting was meant to cover the details.......it was woefully inadequate. The issues that came up over the past 3 months were all resolved by the good graces of the VA guys on this Forum. Thanks again Fellas !!

 

[CindyR]

Per the Phoenix Regional Loan Center, the "Liquidation Addendum" is no longer to be used for liquidation appraisals. Per discussion with the SAR, though, all of the items on the Liquidation Addendum are to be included in the appraisal, just not on the "Liquidation Addendum" form.

Really? Would be nice if they would tell us about that. I'm working on one right now. I guess I better check in with them.

 

[Mike Garrett RAA]

Haven't heard about that either.

 

[Lee Lansford]

Per the Phoenix Regional Loan Center, the "Liquidation Addendum" is no longer to be used for liquidation appraisals. Per discussion with the SAR, though, all of the items on the Liquidation Addendum are to be included in the appraisal, just not on the "Liquidation Addendum" form.

If everything requested in the Liquidation Addendum is to be included in the report of the appraisal--why not just use the LA and be done with it?

More silliness.

 

[Hondo]

My latest edition (Nov 2012) of the VA Guide from the Roanoke RLC has this:

5. ADDENDUM INFORMATION
A liquidation addendum must be included in the report. We recommend you use the format as shown in the addenda section (Section E); however, a computer generated form is acceptable. Include the following supplemental information.

 

[gregb]

Lgib

Maybe this circular only applies to Phoenix region.

 

[Mike Garrett RAA]

The circular was issued by the PHO regional office and not VA. We have no such directions from the DEN regional office. I was told by a reviewer they really like to see the listings gridded and I replied..."fat chance!".

 

[CindyR]

I always grid the listings...