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Topic 17. Post Construction Inspection by an Appraiser
March 11, 2019
This Chapter has been revised in its entirety.
a. Inspection by an Appraiser Following Construction
On proposed construction cases, in addition to any local building authority inspections, the lender must have the VA-assigned fee appraiser visit the property and certify that construction substantially complies with the certified construction exhibits upon which the appraisal was based and that the improvements comply with any conditions of the sales contract (for example, landscaping, decking, or fencing).
b. Inspection Report Form
The report may be prepared on:
Fannie Mae Form 1004D – Freddie Mac Form 442, Part B (Part A is not acceptable for VA use), or
the appraiser’s letterhead.
c. Inspection Report Contents
The report must contain:
the appraiser’s certification that the completed construction substantially complies with the construction exhibits used in the appraisal,
front and rear exterior photos, and
an invoice for the inspection report.
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d. Incomplete Construction or Deviations
If the appraiser finds that construction is not complete or that there have been deviations from the plans, the appraiser should provide details in the report and include an invoice as the appraiser may charge a fee for each inspection.
e. Uploading the Report
The appraiser must upload the report into WebLGY.
f. Contact RLC for Another Appraiser if Needed
When a post-construction inspection is needed and the VA-assigned appraiser is not available, the lender should notify the RLC of jurisdiction to have another appraiser assigned.