Why would a lender order a VA appraisal on a conventional loan?

Asked by Angel1154, Bow, WA Wed Nov 23, 2011

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Angel1154, Home Seller, Bow, WA
Thu Nov 24, 2011
It was so odd to us. The lender first ordered a drive by which didn't make sense because we are 7.2 acres and can't even be seen from the road. The lenders underwriter threw it out. They then ordered a full appraisal and then it came back VA. This just seems crazy. Well, it is over now. Hopefully, we will have better luck from now on with the sale. Thanks for the reply and Happy Thanksgiving.
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My NC Homes…, Agent, Chapel Hill, NC
Thu Nov 24, 2011
There is no reason for a lender to order a VA appraisal if the loan is not a VA loan. The appraisal should in theory be the same other than VA appraisers look more closely at the physical condition of the property in terms of saftey and/or healt issues.

Enjoy your Thanksgiving holiday.
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Angel1154, Home Seller, Bow, WA
Thu Nov 24, 2011
Thanks for the reply and Happy Thanksgiving. Yes, it was a VA appraisal. It did come in much less than our appraisal we had done to determine our value before we listed. The lender didn't care. Thankfully for us our buyer switched lenders.
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Ron Thomas, Agent, Fresno, CA
Wed Nov 23, 2011
Are you sure you read that right?
I cannot think of a difference between a VA Appraisal and a Conventional one, other than;
Some Appraisers are VA qualified,
The VA requires that certain things be done, (primarily Health & Safety) if they show up on the Appraisal,
The VA sets the price for the Appraisal and some Appraisers do not like that.

It may have been a slip-of-the-finger; but where did you see this?

Good luck, God bless and have a good turkey day.
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