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VA-new construction

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P.Johnson

Thread Starter
Sophomore Member
Joined
Feb 4, 2002
I am a new VA appraiser. I just received a new construction case via fax. I asked the lender if they mailed plans and a PA. They said they would when they receive them from the builder and it may be some time. My question is: Am I being judged by the VA for my timeliness? Should I notify the VA that this was assigned to me without plans???? I don't want to be known as one of those appraisers that takes three or four weeks to return an appraisal.
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Are you sure this is proposed new construction for the V.A.? I've been on the V.A. panel for over 9 years, and only received two of those. You may be in an area where these are more prevalent, but not so here in Delaware. Did you ask the lender if this was existing new construction and 95% complete? Just trying to help.
 

mikegoff

Sophomore Member
Joined
Jan 28, 2002
Professional Status
Certified General Appraiser
State
Florida
Here in Florida, timeliness is emphasized. Call VA and if they tell you to hold it for plans/specs, explain the delay in the report (CYA). You are under observation the first year (new guy status), they expect a lot of calls from you till you feel comfortable with the process.
 
Joined
Jan 16, 2002
Ditto the 3 previous posts - yes, call VA - clock is always running.

HOWEVER, check VA handbook revised year 2000, page 10-18 (New Construction section):

(quote) "To be eligible for appraisal as "new construction", the property must be fully completed or completed except for customer preference items (such as interior wall finihses, floor coverning, appliances, fixtures and equipment, etc.).......................blah, blah.....This eliminates the need for construction exhibits" (end quote). Also see section 11-17 in same handbook (Proposed Construction), and section 14. I have never received a "proposed" new construction for VA.

Builders in this area won't go near VA on proposed new construction due to 10 year warranty. We see very few of these here (about 1 per year).
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Call VA? You can get thru to your regional center? LOL!! I prefer to send an email or fax suspending the case until I have received the plans.

I do lots and lots of proposed. Most of the time the home is nearly completed. There are two classes....proposed from plans and specs and NPOs (Not Previously Occupied). NPOs are complete except for buyer preference items. Builders here like to do proposed under the fast start program.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
I forgot to mention, we have a seperate panel of appraisers for new construction. They don't assign new appraisers to this panel...so, what you most likely have an NPO!
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
8)

What regional office do you send reports to? If it is Roanoke and the property is not ready to be appraised, and if new and no plans and specs, notify the lender that unless you receive NOW, you will send the request back and notify VA. We can easily get through to Roanoke, any day, any time. I do many by P&S and many that are 95% complete without P&S.

When in doubt, call VA.

Don
 
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