Hiring my own VA Appraiser?

2b2rich · ‎08-28-2015

I have found a house I would like to purchase (I've already received pre-approval letter). Must I wait for the lender to order an appraisal or can I get one done (providing it's a VA Appraiser) that they will use?

Chapter 7 Discharged & Closed Jan 2020

StartingOver10 · ‎08-28-2015

The lender has to order the appraisal. The lender can not use any appraisal ordered by the borrower. If you want to have one done for your own use, that is a different thing, but the lender could not use any appraisal that you ordered.

2b2rich · ‎08-28-2015

@StartingOver10 wrote:
The lender has to order the appraisal. The lender can not use any appraisal ordered by the borrower. If you want to have one done for your own use, that is a different thing, but the lender could not use any appraisal that you ordered.

Thanks for your reply. I don't see any reason for me to get one then unless theirs appears to come back low (by a good bit).

I'm just trying to think of anything that would help the timeline, or if they try and order it as soon as they get the contract.

Chapter 7 Discharged & Closed Jan 2020

ezdriver · ‎08-28-2015

@2b2rich wrote:
@StartingOver10 wrote:
The lender has to order the appraisal. The lender can not use any appraisal ordered by the borrower. If you want to have one done for your own use, that is a different thing, but the lender could not use any appraisal that you ordered.
Thanks for your reply. I don't see any reason for me to get one then unless theirs appears to come back low (by a good bit).
I'm just trying to think of anything that would help the timeline, or if they try and order it as soon as they get the contract.

Something most of us try to do. However, lender have their processes that can very rarely be influeneced/speeded up by the buyer. The lender will likely order the appraisal fater the file has been initially underwritten. Your loan officer can and should give you an idea of when the appraisal will be ordered per that lender's process.

DallasLoanGuy · ‎08-28-2015

trust me.... most lenders have systems in place to speed up the 'timeline' as much as possible without making mistakes.

Retired Lender

ezdriver · ‎08-28-2015

@DallasLoanGuy wrote:
trust me.... most lenders have systems in place to speed up the 'timeline' as much as possible without making mistakes.

I believe you ... but can the buyer speed up your lender's process? How?

Anonymous · ‎08-28-2015

@ezdriver wrote:
@DallasLoanGuy wrote:
trust me.... most lenders have systems in place to speed up the 'timeline' as much as possible without making mistakes.

I believe you ... but can the buyer speed up your lender's process? How?

Not really, you can call them every minture to follow up but that's about it. My process with the VA went super fast!!! how long have you been in the process?

redbeard · ‎08-28-2015

The appraisal usually isn't the hold up on the timeline. The hold up is getting all of the validations for the approval.

Unless you speed up the IRS, probably not a lot you can do. The best thing you can do is review / sign / submit documents on a timely basis.

Ask the loan officer / mortgage company if there is anything you can gather in advance.

Dan

Just trying to get my scores to rise from the dead......

Wait.... I think I just heard a heartbeat!

Anonymous · ‎08-28-2015

Yeah, i remember staying up until 12AM with the wifey signing and finding paperwork needed. You should start gathering those things ASAP.

Taxes

Pay stubs

previous addresses and dates you lived there for

past employers and dates

bank account info

retirement/investments etc (any financial info)

What took the longest for us was signing 10,000 pages lol and submitting online THEN again in person at closing date.

did i miss anything?

ezdriver · ‎08-28-2015

@Anonymous wrote:
@ezdriver wrote:
@DallasLoanGuy wrote:
trust me.... most lenders have systems in place to speed up the 'timeline' as much as possible without making mistakes.

I believe you ... but can the buyer speed up your lender's process? How?
Not really, you can call them every minture to follow up but that's about it. My process with the VA went super fast!!! how long have you been in the process?

I'm not in the process of buying. I'm a former broker/owner who know the processes very well. I was just looking for some clarification from Dallas...