VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 17 — Post Construction Inspection by an Appraiser

va-m26-7-ch10-t17

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 17 — Post Construction Inspection by an Appraiser.

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Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 17 — Post Construction Inspection by an Appraiser — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

VA Pamphlet 26-7, Chapter 10 (Appraisal Process), Topic 17 — Post Construction Inspection by an Appraiser

Effective 2019-03-11 · publisher's stamp for this provision

Topic 17. Post Construction Inspection by an Appraiser Change Date: March 11, 2019 This Chapter has been revised in its entirety. a. Inspection by an Appraiser Following Construction On proposed construction cases, in addition to any local building authority inspections, the lender must have the VA-assigned fee appraiser visit the property and certify that construction substantially complies with the certified construction exhibits upon which the appraisal was based and that the improvements comply with any conditions of the sales contract (for example, landscaping, decking, or fencing). b. Inspection Report Form The report may be prepared on: Fannie Mae Form 1004D – Freddie Mac Form 442, Part B (Part A is not acceptable for VA use), or the appraiser’s letterhead. c. Inspection Report Contents The report must contain: the appraiser’s certification that the completed construction substantially complies with the construction exhibits used in the appraisal, front and rear exterior photos, and an invoice for the inspection report. d. Incomplete Construction or Deviations If the appraiser finds that construction is not complete or that there have been deviations from the plans, the appraiser should provide details in the report and include an invoice as the appraiser may charge a fee for each inspection. e. Uploading the Report The appraiser must upload the report into WebLGY. f. Contact RLC for Another Appraiser if Needed When a post-construction inspection is needed and the VA-assigned appraiser is not available, the lender should notify the RLC of jurisdiction to have another appraiser assigned.

Source: VA Pamphlet 26-7, Chapter 10 (Appraisal Process), Topic 17 — Post Construction Inspection by an Appraiser · source URL · snapshot 5b740cecba3e0d5a

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