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Topic 24. Appraisal and Repair Inspection Fees
March 11, 2019
This Chapter has been revised in its entirety.
a. Based on Fees for Similar Services
The maximum appraisal and repair inspection fees allowed by VA are based on customary fees for similar services in that vicinity. Regardless of the amount of the maximum fee, appraisers must not charge Veterans more than they charge other clients for similar services. VA will entertain additional fees in unusual circumstances.
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b. Fees Listed Online
Appraisal and repair inspection fees can be found at: http://www.benefits.va.gov/HOMELOANS/appraiser_fee_schedule.asp.
c. Mileage
Mileage may be charged in accordance with the RLC’s fee schedule. The fee per mile is based upon the GSA mileage rate which can be found at: http://www.gsa.gov.
d. Certification that the Fee will be Paid
When an appraisal is ordered, the requester must certify in WebLGY that the appraisal fee has been collected and is being held to be paid to the appraiser before the appraisal request will be assigned to an appraiser.
e. Fee Must be Paid by the Requester
Appraisers are not authorized to collect appraisal fees directly from Veterans. Fees must be paid by the requester who placed the appraisal request.
f. No "Rush" Fees
VA expects the highest level of service will be consistently provided to Veterans and their mortgage lenders. No fees for "rush" or "priority" service are acceptable.
g. Appraisal Fee Included on a Claim
On liquidation appraisals, the servicer may request reimbursement of the appraisal fee that was paid to the appraiser when filing the claim under guaranty. In the event that the borrower requests to pay the full arrears after the appraisal is performed, the servicer must include the cost of the appraisal in the calculation of the total amount due.
h. Complex Properties
VA fee and timeliness schedules cover fees for typical appraisals. Appraisal assignments that are complex in nature may require additional resources and time. If an assignment is determined to be complex in nature, appraisers may negotiate additional fees with the lender, subject to VA approval. Fee should not exceed what is reasonable and customary for a similar complex property type in the market area.