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VA New Construction

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gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
Is every VA appraiser getting either the builder or POC to fill out this form on new construction assignments?

https://www.vba.VA.gov/pubs/forms/VBA-26-1852-ARE.pdf
 

sandpiperapp

Senior Member
Joined
Apr 5, 2011
Professional Status
Certified Residential Appraiser
State
New York
Never saw that before. New construction is a very small part of my market, but I have completed several for the VA. Never knew that form existed. All of the new homes were under construction at the time of inspection with most at least 70% complete at inspection. I always ask if they are 95% complete when scheduling the appointment, but my definition of 95% complete and the builders or brokers opinion of 95% complete seems to be a tad different.
 

Ca Ar Independent

Senior Member
Joined
Sep 24, 2011
Professional Status
Certified Residential Appraiser
State
California

gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
First I have seen the form. Appraiser on facebook brought it to my attention. Not sure who completes the form or if the appraiser is required to consider it in the appraisal of new construction.
 

A Brit in California

Senior Member
Joined
May 6, 2006
Professional Status
Certified Residential Appraiser
State
California
A large percentage of my work is new (under) construction. Never seen that form before nor been asked to complete one. Clearly it is a form the builder would complete.
 

Confident Rabbit

Senior Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Washington
Is every VA appraiser getting either the builder or POC to fill out this form on new construction assignments?

https://www.vba.VA.gov/pubs/forms/VBA-26-1852-ARE.pdf
No. Other forms are acceptable. See Chapter 10.10 of the Lender's Handbook, which states in part:

Each set of proposed construction exhibits must include

· specifications on VA Form 26-1852, Description of Materials, signed and dated by the builder in all cases and by the veteran when one is under contract in an individual case processed as “proposed or under construction”. Other specification formats are also acceptable, provided they are signed and dated by the builder and veteran as described above and are sufficiently detailed for VA appraisal and compliance inspection purposes.
 

Confident Rabbit

Senior Member
Gold Supporting Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Washington
An aside: *said with thumbs firmly hooked in suspenders, reclining in chair with feet up on desk*

Back in the day, when we used to drive in to pick up plans & specs and hand-deliver appraisal reports, I received a "Description of Materials" written in carpenter pencil on a torn off side of a brown paper grocery bag. According to 10.10, that would be acceptable to VA if it were properly signed and sufficiently detailed as noted above (and nowadays, uploadable to WebLGY in PDF format). :)
 

KYLECODY

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
I see a lot of people mention that either 70% or 90% of the home needs to be completed before the VA inspection on new construction. Is there a steadfast rule on this? Its my understanding they don't want new construction done "subject to completion". So even if it is 90% done, just lacking carpet for example, you are doing these "as is". ?
 

gregb

Elite Member
Joined
Sep 3, 2011
Professional Status
Certified General Appraiser
State
California
Phoenix RLC indicates when the new construction has reached the state where buyer preferences are awaiting install, to make the report subject to alterations or repairs.
 
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