The allowable fees for the appraisal type and the number of days allowed for completion can be found in the table below under the supporting Regional Loan Center.
Due to the unprecedented demand for appraisal services, some market areas have seen dramatic increases in appraisal fees. VA is aware of this and considers some fees and timeliness to be a temporary reaction caused by market demand. As a result, VA has increased appraisal fees and extended timeliness requirements in some markets facing a high demand for appraisal services. Timeliness starts the first business day after assignment date.
*These changes may not be permanent, and VA will continue to assess the market’s demand for appraisal services and will adjust appraisal fees and timeliness requirements accordingly.
Several counties across the nation have be identified as High Demand Counties, counties in which the increased demand for appraisal services has created shortage of available appraisers. While VA considers this to be a temporary market fluctuation, appraisal fees have been increased in these counties to reflect the increased demand in this seller’s market.
*The fees and timeliness increases will be reevaluated in the future and may need to be readjusted.
Appraisers are no longer authorized to charge an additional $50 above the fee indicated in the table. Liquidation appraisal timeliness is the same as typical assignments in the geographical area.
Lenders must notify the assigned VA appraiser and the VA office of jurisdiction when an order has been cancelled. Notification is to be made via email – notes in WebLGY are not sufficient notification to VA that an assignment has been cancelled.
VA allows appraisers to charge for time and work completed according to the following schedule:
Requests for mileage fees must be approved by the Regional Loan Center (RLC) prior to the appraiser starting the appraisal. Authorized mileage fees will be charged at the rate allowed by the General Services Administration (GSA) or a flat rate approval based on unusual circumstances (i.e., weather conditions, unpassable roads, the need to use off road vehicles etc.). To determine GSA’s current mileage rates, please visit https://www.gsa.gov/travelresources.
Appraisal fees for the Islands of Vieques and Culebra will be the same as in the U.S. Virgin Islands. Reimbursement for public and private transportation expenses (air, boat, ground transportation, or the use of specialty vehicles) incurred to perform appraisals in the islands of Vieques and Culebra; the U.S. Virgin Islands; Alaska; outer Islands of Hawaii; and the Commonwealth of the Northern Mariana Islands is authorized when accompanied by supporting documentation.
When an appraisal assignment is completed for proposed or under construction properties the appraiser may charge an additional $50 fee above the published VA appraisal fee for that property type.
All re-inspection fees are $150.
Lenders and other appraisal requestors should note that VA Form 26-1805, VA Request for Determination of Reasonable Value (Real Estate), states “On receipt of ‘Notice of Value’ or upon advice from the Department of Veterans Affairs that a ‘Notice of Value’ will not be issued, we agree to forward to the appraiser the approved fee which we are holding for this purpose.” If a payment has not been made within 30 days of billing, a late fee charge not to exceed state usury statutes is authorized.
Late fees cannot be charged to the Veteran. Lender Appraisal Processing Program lenders are responsible for their approved agents.
|Regional Loan Center||States||Appraisal Fees and Timeliness|
- North Carolina
- South Carolina
- New Hampshire
- New Jersey
- New York
- Rhode Island
|- American Samoa
- Commonwealth of the Northern Mariana Islands
- New Mexico
|- District of Columbia
- West Virginia
- North Dakota
- South Dakota
- Puerto Rico
- U.S. Virgin Islands