Hi, Vance Scott here with Approved Mortgage Source with my personal opinion on a VA appraisal.

     When it comes to VA appraisals, I happen to know that the VA has instructed their appraisers to attempt the best they can to make this work, assuming the property is worth the contracted price. The VA is sympathetic to this because they have a Veteran willing to pay this amount. Also, VA appraisals are not really an appraisal, it is an Opinion of Value. 

     The VA is the only type of appraisal that we actually have an opportunity to dispute the appraisal if we have comparable properties, like the subject we can submit to the VA, they will trump the VA appraiser, I have done this in many occasions and in my opinion as a Lender, VA appraisals are the easiest to be able to get corrected if there is something incorrect, unlike FHA, and unlike Conventional files.

     We recently had one we got increased $25,000.00 and obviously the lender that is doing the transaction has to have the knowledge and expertise to navigate the VA to do this.

     Approved Mortgage Source is dedicated to helping our Veteran’s and I hope this information helps explain the appraisal process when it comes to VA loans, also we would like to mention that there is NO special requirements for inspections that are required by the VA, it’s the same requirement for FHA and Conventional. The property must meet safe and sound requirements, and I can elaborate more if needed. The only thing different with the VA, is that we must have a clean termite inspection.

     If you have any questions about this, please contact me directly.

     I just want to point out that this is my opinion only, this is not coming directly from the VA. I have added a printable PDF, VA Appraisals.pdf , so that you could include it with your contract because I believe so strongly in the information that I've sent you, that I am willing to put this in writing, but only as my opinion.