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Topic 4. Duplicate Appraisal Requests
March 11, 2019
This Chapter has been revised in its entirety.
a. Cancelation of a Duplicate Request
Once an appraisal has been requested, no duplicate appraisal requests are authorized. If a lender requests more than one appraisal for the same Veteran on the same property, the lender must immediately cancel the additional request(s), following the procedures in Topic 5 of this chapter.
b. Fees for Duplicate Appraisals
If a lender fails to cancel duplicate appraisal requests and multiple appraisals are completed for the same Veteran on the same property, the lender will be responsible for the fees for all duplicate appraisals. The NOV will be issued based on the first appraisal requested.
c. No Duplicates during the NOV Validity Period
After the NOV has been issued, no duplicate appraisals may be requested for the same Veteran on the same property during the validity period of the NOV.