Va House Loan Limits
Va House Loan Limits
does anyone know about va appraisals?
we put in an offer on a house 3 weeks ago and it was accepted! We acquired a va loan and everything was going smoothly until we got to the appraisal. The appraisal was ordered 2 weeks ago and it was finally done last Friday. We still have not heard anything and our lender and agent are both telling us "probably tomorrow." They have been saying this all week. Now I've learned that the appraiser has 10 days from when the appraisal is ordered. It is well past that. I'm wondering if there are time limits set what are the consequences for going over? Do we still have to pay for it if they go over the time limit? Any help would be appreciated!
There is no such time limit.
VA picks the appraiser...not the bank, nor the seller. Everyone will just have to chill and wait on it. Your seller knew you had a VA loan...this is part of what goes with it.
Tons of things could have happened...orders are placed by fax...there is a possibility that the appraiser originally never got the order.
They will usually have the appraisal ready within a few days of visitng the property.
Call your bank and have them call the appraiser and find out what the delay is...it's that simple. Your agent has no control over the process.
PS: VA appraisers DO NOT work for the gov't. They are regular, state licensed appraisers that just have a certification to do VA appraisals...they are done on a different appraisal form, but they are no different than any other appraisal...the VA DOES NOT require additional comps....that is the call of the DE underwriter that approves VA loans if the appraisal meets the requirements and it is the underwriter, than conditions for more comps.
The DE underwriter works for the bank..not the VA.
I should know, I used to be one.
Va loan
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 Residential MultifamlyInvestment Property US $315,000.00 |
 FLORIDA RESIDENTIAL NEAR DAYTONA BEACH US $24,900.00 |
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