source:
  type: guide
  id: va-m26-7-ch10-t13
  authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 13 — Proposed
    Construction Appraisal from a Model Home
  description: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 13 — Proposed
    Construction Appraisal from a Model Home.
  coverage_tier: operative
obligations:
- id: va-m26-7-ch10-t13-full
  canonical_id: va-m26-7-ch10-t13-full
  section: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 13 — Proposed
    Construction Appraisal from a Model Home
  type: do
  tags:
  - regulator-direct
  - va
  - va-handbook
  - corpus-expansion
  - tier-operative
  primary_source:
    tier: 1
    authority: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 10, Topic 13 — Proposed
      Construction Appraisal from a Model Home
    source_class: va-handbook
    source_url: https://www.benefits.va.gov/warms/pam26_7.asp
    snapshot_id: 454f0e7af6f49c3b
    fetched_at: '2026-05-23T01:53:53Z'
    content_hash: sha256:0551eb031df071b1ef69a627ad29b5a2c41dc00e3e2b9ccd421133b2561fa57d
    paragraph_quote: '13. Proposed Construction Appraisal from a Model Home Change
      Date March 11, 2019 • This chapter has been revised in its entirety. a. Notification
      to Appraiser When ordering the appraisal, the lender must enter the full legal
      description of the subject property in the legal description block on the appraisal
      request form in WebLGY followed by “APPRAISAL FROM MODEL HOME.” This will alert
      the fee appraiser of the procedure to be followed. b. Model Home Requirements
      The model home must be: • fully completed, • the same plan type as the subject
      home (reversed plans are acceptable), • located in the same market area, and
      • readily accessible to the assigned fee appraiser. c. Contact Information for
      Model Home Access Contact information for the sales office or an individual
      who can provide the appraiser with access to the interior of the model home
      must be provided on the appraisal request. d. Differences between Subject and
      Model Home The appraiser must be provided with information concerning any differences
      in customer preference items, upgrades, or additional features between the model
      home and the subject property. e. Statement on the Appraisal In the “Comments”
      section at the bottom of page 1 of Fannie Mae Form 1004, Uniform Residential
      Appraisal Report (URAR), the fee appraiser must insert the following statement:
      “Appraisal from Model Home. Value has been based on an inspection of a model
      home of the same plan type as the subject. Construction to be completed according
      to contract dated__________.” Continued on next page VA Pamphlet 26-7, Revised
      Chapter 10: Appraisal Process 10-24 13. Proposed Construction Appraisal from
      a Model Home, continued f. NOV Requirements When issuing the NOV, the SAR must:
      • issue the NOV under the guidelines for proposed construction (since the model
      home was used to illustrate the property instead of plans), and • place the
      following condition in item 16 of the NOV: “Appraisal from Model Home. Construction
      to be completed according to contract dated__________. Appraiser is to be contacted
      for Final Inspection and to provide a statement verifying satisfactory completion.”
      VA Pamphlet 26-7, Revised Chapter 10: Appraisal Process 10-25'
  judgment: false
