How to Order an Appraisal Overview

How to Order an Appraisal Overview

Overview

The Appraiser must obtain all of the following before beginning an appraisal:
  1. A complete copy of the executed sales contract with all addendums for the subject, if a purchase transaction;
    1. The land lease, if applicable;
    2. Condo questionnaire for Condos
    3. A point of contact and contact information for the lender so that the Appraiser can communicate any noncompliance issues.
When performing an appraisal on New Construction, the Appraiser must also review and analyze the following;
  1. Any documents related to New Construction, including plans, specifications, and any exhibits

Appraisal Systems

  1. The FHA appraisal is ordered through the lender’s residential appraisal management company or department. Lenders are responsible for ensuring that the appraiser who actually conducted the appraisal is correctly identified in FHA Connection (FHAC). The DE Underwriter, who is responsible for the quality of the appraisal report, is allowed to communicate with the appraiser.
  2. The VA Appraisal System (TAS) allows appraisal requesters to contact VA via the Internet any time of the day or night to obtain VA assignment of a case number and fee appraiser (and construction inspector, if applicable). The Internet address for TAS : http://tas.vba.va.gov/

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