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Personal FinanceA Guide to VA Appraisals Ensuring Your Dream Home's Value.

A Guide to VA Appraisals Ensuring Your Dream Home’s Value.


VA Appraisals play a pivotal role in the home buying process, resembling home inspections by providing a visual assessment and assigning a monetary value to the property. This article aims to underscore the purpose, benefits, and considerations associated with VA Appraisals, particularly for military personnel seeking to utilize their VA loan benefits.

Quality Home Purchase

VA Appraisal reports primarily scrutinize the quality of the intended home purchase. Ensuring that the property is in good condition, free of hazards, and safe for occupation is paramount. The comprehensive assessment includes checks on crawl spaces and various other details to safeguard the prospective homeowners.

Minimal Property Requirements

The VA places a market value on the property if it adheres to the VA’s list of Minimal Property Requirements (MPRs). These standards address structural, foundational, and other potential issues, providing a comprehensive evaluation before the final purchase at closing. Unlike regular home inspections, VA Appraisals necessitate sellers to rectify identified problems, contributing to a more secure home purchase.

Financial Protection

VA Appraisals are designed to protect the interests of the homebuyer, the lender, and the VA itself. While facilitating the realization of the American Dream, they also ensure that the funded home is structurally sound, preventing unexpected financial burdens and ensuring a stable future for the homeowners.

VA Appraisal Fees

Understanding the costs associated with VA Appraisals is crucial for prospective homebuyers. The fees can vary based on factors such as the property’s location, type, and the complexity of the appraisal. General guidelines for VA Appraisal fees are as follows:

  • Single-family homes: Typically range between $400 and $1,200.
  • Condominiums and manufactured homes: Slightly lower, ranging from $300 to $1,000.
  • Multi-unit properties: Higher than single-family homes, starting around $500.

Additional charges may apply for travel expenses or complex appraisals as explained here.

Key Focus Areas during VA Appraisal

After obtaining a certified loan letter, the home shopping process commences. During the VA Appraisal, pay attention to critical elements:

1. Home Repair Estimate

Government appraisers necessitate sellers to address identified hazards or home issues. Clearly communicate these requirements to ensure alignment between you and the seller, avoiding potential setbacks or complications.

2. Detached Improvements

VA Appraisals often include detached improvements, evaluating amenities like swimming pools and sheds that may not be covered in regular home inspections. Consider the overall value, including these improvements, in your deliberations.

3. Physical Disabilities

VA Appraisals consider any injuries or physical disabilities resulting from military service. This ensures compliance with the VA’s Specifically Adapted Housing (SAH) requirements. Seek clarification from the Regional Loan Center or an experienced VA lender regarding accommodation for disabilities.

4. Notice of Value (NOV)

Following a thorough review, you and your partner will receive a Notice of Value (NOV) detailing the condition of the home, meeting Minimal Property Requirements, and assigning the final market value. This document is typically received 7-10 business days after the appraisal.

Checking VA Appraisal Status

Stay informed about the status of your VA Appraisal through the following channels:

VA Loan Electronic Review System (LERS):

Lenders and loan servicers can access real-time updates.

Contacting your loan servicer:

Obtain information on appraisal progress, expected completion, and appraiser details.

Contacting the VA directly:

  •  Direct inquiries about the appraisal status to the VA through their main phone number, 1-800-827-1000.

Seamless Experience with Veteran-Run Office

Unlike traditional home lenders, our veteran-run office prioritizes open communication, setting clear expectations from application to closing. We understand the significance of the VA Appraisal in the home buying journey and ensure a transparent and efficient process for military personnel and their families. Achieve your dream home without unnecessary complexities—partner with a lender that cares about your service and homeownership aspirations. Thank your time. you may read here about how you can obtain a home.


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