Appraisals

1.  What if I don't agree with the value on the appraisal or NOV?

Any party of interest to the transaction can submit a request (written) through the lender to the fee appraiser on whose appraisal the current VA valuation is based, for a reconsideration of value.  Requests other than to change value will be submitted through the lender to the VA office of jurisdiction.  Although there is no requirement that comparable sales or other real estate market information be submitted with a request for a change in value, such supporting information will greatly assist the VA in reviewing the request.  Lender Appraisal Processing Program (LAPP) cases should also include a recommendation by the Staff Appraisal Reviewer (SAR).

You must contact the Construction and Valuation section at the VA Regional Loan Center having jurisdiction over the location of the property.  Generally a HUD appraisal cannot be converted for VA use, but there is one exception as explained in the VA Lender's Handbook, section 10.11.

3.  Will VA accept an Automated Valuation Model appraisal under any circumstances?

No.  All VA appraisals must be performed by VA fee panel appraisers, assigned on a rotational basis.