VA is reminding lenders that there is an allowed process to get additional sales information to a VA appraisal to assist in establishing fair market value. In states where real estate prices are rising, this is super important. Comment below if you would like a handy sheet for the Process for Requesting Additional Sales Data.
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Rule Synopsis: [tweet-start]In areas where home prices are going up fast, VA reminds lenders/Realtors what they need to assist the appraiser. Call for list![tweet-end] This circular enforces and re-affirms an already-existing VA Tidewater process announced in Circular 26-03-11 in 2003. This process allows appraisers to request additional sales information prior to the completion of the […]