VA Reinspection Fee

[CindyR]

Well I know I saw it somewhere and I know some other folks saw it somewhere but I sure can't find it today. Where is that whatever I saw that says that the veteran/borrower is not supposed to be charged for the reinspection?

OK - let me edit to clarify. I know I can charge a fee and I know someone has to pay me but I am sure I saw something somewhere that the reinspection fee is not supposed to be passed along to the veteran/borrower.

 

[GWISC]

Cindy, you can charge $100 in your area for a repair inspection. See page 2 of the link below.

http://www.benefits.VA.gov/HOMELOANS/documents/docs/phoenix_fee.pdf

Hope this link helps.

 

[GWISC]

You are actually supposed to charge what is customary and reasonable, but not to exceed the VA price sheet. Well, at least that's what a VA RLC rep told me.

 

[GWISC]

Just read you post more carefully. I have not heard of the re-inspection fee not being forwarded to the vet. I would call your local office and find out.

 

[TN Pro]

Cindy, i heard the same thing when i started with the VA in 2012. However it seems i was reading some VA literature recently that had a list of charges that cant be passed on to the vet, and i didnt see the final inspection fee on there,

 

[Proactive]

I just bill the lender. It's their job to know what fees should/should not be passed on to the veteran.

 

[Don Clark]

Just read you post more carefully. I have not heard of the re-inspection fee not being forwarded to the vet. I would call your local office and find out.

This might help:

http://www.benefits.VA.gov/cleveland/docs/nationwide_maximum_allowable_appraisal_fees.pdf

Seems the only fee that cannot be charged to the Veteran is one for being paid late.

 

[GWISC]

Cindy, I just got a notice from my local VA RLC. They informed me that an appraisal I completed a few weeks ago was now being serviced by a new lender (borrower is hopping from one lender to the next). Anyway, the letter explained that while the VA does not require the new lender's name on the report that it is possible the new lender may request such an action. The VA is ok with this practice. The letter went on to explain about how this is a new assignment and blah blah.. The VA indicated some appraisers charge for this revision, most being around $100, however the fee is up to the appraiser as this is not covered in the VA fee panel. I called them to clarify and discuss the letter. They said that "If you feel a new appraisal with appraisal date is necessary you could even charge the standard appraisal fee of $400" (not that I would). The letter and VA rep indicated any fees, whether a $100 for a new lenders name or a new appraisal had to be paid by the lender and that the lender cannot charge the vet for the additional fees.

Hope that helps.

 

[Tru Red]

Another interesting thread. I always charge $100 and I don't care who's pocket it comes out of. I cannot and will not work for free....especially since 95% of my appraisals and completion inspections are over 100 miles round trip. The lender is always the one who receives my invoice and sends the check. Seems to me a knowledgeable VA lender would know for certain.

 

[Laurie Collins]

Another interesting thread. I always charge $100 and I don't care who's pocket it comes out of. I cannot and will not work for free....especially since 95% of my appraisals and completion inspections are over 100 miles round trip. The lender is always the one who receives my invoice and sends the check. Seems to me a knowledgeable VA lender would know for certain.

Atlanta thinks you should work for free. Point blank refuses to put lenders on COD and have said you can not require a final inspection because the borrower should not have to pay for such a thing and the lender certainly can't be expected to pay for it. I kid you not.