VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 7 — Uniform

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 7 — Uniform

7. Uniform Appraisal Dataset (UAD) • UAD Property Condition and Quality Rating Definitions • UAD Property Description Abbreviations (see Topic 13 of this chapter) Continued on next page VA Pamphlet 26-7, Revised Chapter 11: Appraisal Report 11-7 3. Appraisal Report Contents, continued c. Appraisal Report Contents, continued 8. Appraiser’s certifications • Required by state law • Related to continuing education or membership in professional appraisal organizations • Additional certifications may be made on a separate form or page, provided they do not conflict with the language on the Statement of Assumptions and Limiting Conditions, any preprinted language on the appraisal form, or VA appraisal requirements 9. Liquidation appraisal addendum • Required on liquidation appraisals only (see Topic 20 of this chapter) VA Pamphlet 26-7, Revised Chapter 11: Appraisal Report 11-8 4. Gross Living Area Change Date February 22, 2019 • This Chapter has been revised in its entirety. a. Definition Gross living area (GLA) refers to the square footage of the area that is finished, habitable, contiguous, above-grade, residential space calculated by measuring the outside walls of the structure. b. Non- Contiguous Areas The functional utility and contributory value of any non-contiguous areas should be considered by the appraiser and listed separately from the GLA on the market data grid. c. Basements Basements, whether or not finished, must not be included in the GLA. d. Attics Finished attics may be included in the GLA. e. Below-Grade Areas If any part of a finished level is below grade, the appraiser must determine whether it should be considered GLA or valued separately. If the appraiser determines that a partially below-grade habitable space is similar to the GLA in design, quality of construction, and appeal, has full utility and is accepted in the market, the appraiser may include the area in the GLA. If the partially below-grade space is inferior to the rest of the property and not accepted in the market, the appraiser may determine that the area is not part of the GLA. In cases such as these, the contributory value of partially below- grade space should be considered separately on the market data grid. VA Pamphlet 26-7, Revised Chapter 11: Appraisal Report 11-9

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