VA liquidation appraisal questions

[Tim Hicks (Texas)]

The timeline for liquidation is presently business 5-days. Also, the "Borrower" field is n/a. Lastly, don't forget the Liquidation Addendum with 3-Pending/Active listings if they are available.

It is now ten days in this area

 

[Ariba]

It is now ten days in this area

Did I not say presently not as of 12/01/2021? Fine for Texas, but are you familiar with California timeliness for Liquidation sales?

 

[Tim Hicks (Texas)]

Did I not say presently not as of 12/01/2021? Fine for Texas, but are you familiar with California timeliness for Liquidation sales?

Testy? It has been 10 days for well over a year here. I just figured it had to be everywhere else too.

 

[Ariba]

Testy? It has been 10 days for well over a year here. I just figured it had to be everywhere else too.

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.

 

[Tru Red]

I have done A LOT of these for the VA.
You can call. That is one attempt. You can email (if you have their email). That is another attempt. You can leave a note on the door or gate. That is another attempt. You can send a letter via mail (keep a copy of the envelope w/stamp). That is another attempt.
Whatever you decide........stay safe. Sometimes people being foreclosed on are not rational. They can be mad and upset that someone is attempting to get them out of their home. All to often they look at the appraiser as part of the problem. And added to that it is a veteran that could have PTSD and/or be trained in self-defense and weapons.
Just.......stay safe and use your head.
BTW........just do it as market value as-is. The VA wants a value of the way it actually is when you see it.

 

[LesPaul59]

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.

The point of VA loans is to help the veteran. The point of the appraisal is to provide an estimate of market value.

 

[J Grant]

In 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.

 

[DWiley]

In 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.

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 VA

 

[Terrel L. Shields]

If you have foreclosure sales / listings that are best comparables. Use them

Why if they want a normal "as is" value?

 

[Zoe]

Why if they want a normal "as is" value?

Your ctc on subject are good. Your spot on. Nobody can argue with you ctc. Now, how you get there is fine with me. Don't get over your head.