- Jan 15, 2002
- Professional Status
- Certified Residential Appraiser
Well, here it has been 7-days for over a year except for Liquidation appraisals which were 5-days. This has now been changed to 7-days, Also, the additional $50 Liquidation Addendum fee is no longer authorized. Go figure that one out.Testy? It has been 10 days for well over a year here. I just figured it had to be everywhere else too.
The point of VA loans is to help the veteran. The point of the appraisal is to provide an estimate of market value.I think he/she is trying to make a few trips as possible and do the minimal. LGI appraisals are not a money maker for the appraiser, but the VA is a good steady stream of work to accept the shortcomings of LGI assignments. Plus, the point of VA appraisals is to help the veteran.
Just a reminder that a VA liquidation appraisal is actually an appraisal of market value, not an appraisal of liquidation value. See prior post with actual text from VAIn a very hot, short supply market, liquidation value can be the same $ amount as what we might opine as a "market value". Explain your opinion of why the value is X $. There is no rule which says liquidation value is always a "low : value.