VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 4 — Building

VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 4 — Building

4. Building Sketch • Gross living area calculations • Exterior dimensions of dwelling, basement, and any other improvements contributing value • Basement may be shown in relation to the floor plan of the house instead of separately • Floor plan layout (interior room dimensions and partitioning are not required) • If interior access is not provided on a liquidation appraisal, a sketch is not required 5. Photographs • Clear and labeled • Front and rear taken at opposite angles to show all sides of the dwelling if possible • Improvements with contributory value • Minimum Property Requirement (MPR) repair items • Street scene • Any views affecting value • Kitchen • Main living area • Bathrooms • Any recent updates, remodeling or renovation • Front view of each comparable sale (real estate marketing photographs are acceptable with an explanation, for example, to exhibit condition at the time of sale, or if a comparable sale is in a gated community that was not accessible to the appraiser) • For condominiums, if the subject and sales are in the same building or identical buildings, the appraiser may comment instead of providing photographs of the sales • Interior photographs are not required on liquidation appraisals when access to the interior of the property is not available

Source: VA Lenders Handbook (VA Pamphlet 26-7), Chapter 11, Topic 4 — Building · source URL · snapshot faa7d8c84a0580f3