The Saint Paul Regional Loan Center sent me a Non-Substantive Negative Work Quality letter stating I need to use the Liquidation Addendum even though the reporting requirements were already in the report on a generic supplemental addendum page.
The Handbook states (does not say it must be the liquidation addendum form):
i. Liquidation Addendum
An addendum to the liquidation appraisal must be provided with the following information:
· whether the property is occupied or vacant,
· whether or not access to the interior was gained,
· if access was not gained, details of attempts to gain access must be provided in accordance with item d or e above,
· if the property is vacant, whether or not the property was secure,
· any repairs urgently needed, such as securing the dwelling or securing a swimming pool,
· information about three current listings or pending sales, including the length of time on the market, the current listing price, any known price changes, and a short statement describing how each property compares to the subject property, and
· an itemized list of any MPR repair items and any cosmetic items that affect the marketability of the property, with the estimated cost and the estimated contributory value of each item. The total contributory value of all repairs listed should be considered by the appraiser when making condition adjustments on the market data grid since liquidation appraisals are completed “as is”.
Additionally:
VA Appraisal Fee Schedules and Timeliness Requirements
Liquidation Appraisal
Appraisers are no longer authorized to charge an additional $50 above the fee indicated in the table. Liquidation appraisal timeliness is the same as typical assignments in the geographical area.
