VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 39 — Properties Near Airports

va-m26-7-ch12-t39

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 39 — Properties Near Airports.

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Verbatim provisions from VA Lenders Handbook (VA Pamphlet 26-7), Chapter 12, Topic 39 — Properties Near Airports — 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 12 (Minimum Property Requirement), Topic 39 — Properties Near Airports

Effective 2019-03-28 · publisher's stamp for this provision

Topic 39. Properties Near Airports Change Date: March 28, 2019 This Chapter has been revised in its entirety. a. Appraiser Responsibility Appraisers must be familiar with noise zones and safety-related zones surrounding airports in areas where they perform appraisals for VA. b. Appraisal Considerations Whenever a property is located near an airport, appraisers must consider the effect on value of any airport noise and select comparable sales, if available, with the same airport influence. c. Proposed Construction in a Clear Zone Proposed construction located in a Clear Zone (also known as a Runway Protection Zone) is not eligible. The appraiser must stop working on the appraisal and notify the lender immediately. d. Existing or New Construction in a Clear Zone For existing or new construction located in a Clear Zone, the following Veteran’s acknowledgement must be required on the NOV and signed by the Veteran: "I am aware that the property being purchased is located near the end of an airport runway and this may have an effect upon livability, safety, value and marketability of the property." e. Accident Potential Zone For all properties located in an accident potential zone, the following Veteran’s acknowledgement must be required on the NOV and signed by the Veteran: "I am aware that the property being purchased is located in an accident potential zone and this may have an effect upon the livability, safety, value, and marketability of the property." f. Maps Available Online Airport noise zone maps may be found at https://www.faa.gov/airports/environmental/airport_noise/noise_exposure_maps/.

Source: VA Pamphlet 26-7, Chapter 12 (Minimum Property Requirement), Topic 39 — Properties Near Airports · source URL · snapshot 9df31307e7a2b3e6

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