VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 30 — Swimming Pools

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 30 — Swimming Pools

30. Swimming Pools Change Date March 28, 2019 • This chapter has been revised in its entirety. a. Pool Equipment If the pool water contains algae or if the pool has been winterized, and the appraiser cannot determine if the pool equipment is in good working order, the appraiser may complete the appraisal under the extraordinary assumption that the pool and its equipment can be repaired at minimal cost without recommending any repairs. b. Structural Defects The appraiser must report readily observable defects including unstable sides and structural issues that would render the pool inoperable or unusable. Depending on the extent of the damage, the appraiser must prepare the appraisal report “subject to” the repair of the pool, and include the pool in value, or prepare the appraisal “subject to” permanently filling in the pool, in accordance with local guidelines, and re-grading the yard, if necessary. c. Above- Ground Pools Above-ground pools which include water filtering equipment and decking may be included in value if the appraiser determines that above-ground pools are customary and accepted in the market area. d. Local Requirements for Securing Pools Swimming pools must be secured in accordance with any local requirements. On a liquidation appraisal, if the pool is unsecure, securing the pool must be included on the repair list and reported as a safety hazard on the liquidation addendum. VA Pamphlet 26-7, Revised Chapter 12: Minimum Property Requirements 12-38

Source: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 30 — Swimming Pools · source URL · snapshot 824171a914866a59