How to Transfer VA Appraisal
**The answer to the question of how to transfer a VA appraisal is quite simple. To transfer a VA appraisal, you will need to request a “Notice of Value” from the VA which will then be sent to the new lender for review. Once the new lender has reviewed the appraisal, they can choose to accept it and proceed with the loan process.**
FAQs about transferring VA appraisal:
1. Can a VA appraisal be transferred to a new lender?
Yes, a VA appraisal can be transferred to a new lender. The process involves requesting a “Notice of Value” from the VA and having it sent to the new lender for review.
2. Can I transfer my VA appraisal to a different property?
No, a VA appraisal is specific to the property for which it was conducted. If you are purchasing a different property, a new appraisal will be required.
3. Can I use a VA appraisal for a different type of loan?
No, a VA appraisal is specifically for VA loans. If you are applying for a conventional loan or another type of loan, a new appraisal will be needed.
4. Can I transfer my VA appraisal to a different branch of the same lender?
Yes, you can transfer a VA appraisal to a different branch of the same lender. The process is similar to transferring to a new lender, where the “Notice of Value” is requested and reviewed by the new branch.
5. Can I transfer my VA appraisal to a different borrower?
In most cases, a VA appraisal is tied to a specific borrower. If there is a change in the borrower, a new appraisal will likely be required.
6. Can I transfer my VA appraisal if I switch to a different loan program?
No, a VA appraisal is specific to VA loans. If you switch to a different loan program, such as an FHA loan or conventional loan, a new appraisal will be necessary.
7. Can the seller transfer the VA appraisal to the buyer?
No, the VA appraisal is typically obtained by the buyer or their lender. The seller does not have control over transferring the appraisal.
8. Can I transfer my VA appraisal if I am refinancing my loan?
If you are refinancing a VA loan, you may be able to transfer the VA appraisal to the new lender. The new lender will need to review the appraisal before proceeding with the refinance.
9. Can a VA appraisal be transferred between different appraisers?
Typically, a VA appraisal is conducted by a specific VA-approved appraiser. If there is a need to transfer the appraisal to a different appraiser, it may require additional steps and approval from the VA.
10. Can I transfer my VA appraisal if the property has changed significantly?
If the property has undergone significant changes since the initial appraisal, a new appraisal will likely be required. The lender will need an accurate assessment of the property’s value.
11. Can I transfer my VA appraisal if the market conditions have changed?
If there have been significant changes in the market conditions since the initial appraisal was conducted, a new appraisal may be necessary. Lenders rely on current market information to assess the property’s value.
12. Can I transfer my VA appraisal if it has expired?
If the VA appraisal has expired, a new appraisal will be necessary. Lenders require a recent appraisal to ensure the property’s value is accurately assessed.