OK, so I had a great experience with the VA the other day. They are reputed for being a little difficult and connecting with them can require an investment of time, but that is just the fabric of VA loans. It is of course worth every minute when you need to keep a mortgage deal together.
Notwithstanding the fifty-seven minutes on hold, I was ultimately connected with the person who was able to give me exactly what I needed. The object of the snafu was the home’s above ground pool. Its value was the tipping point in the property receiving the valuation to justify the loan amount.
What had happened was that the appraiser assigned no value to the pool; which in fact, was wrong. However, if we know anything about VA loans it’s that they have so many moving parts that even industry veterans can’t always keep up with the latest guidelines.
So when the Realtor contacted me on behalf of her buyers with the report from the appraiser (another reason I always encourage agents to be present at appraisals so they can contact me when something comes up!), I was prepared to endure some of the worst music-on-hold in the world.
It turned out to be worth every minute as the VA representative was able to cite the notice of value from the most current release of the Construction Appraisal Guide which in turn allowed me to transmit that information to the appraiser. The pool was then provided its rightful value.
The thing is, these guidelines change all the time; but for the Realtors and home buyers I support, it is always worth the time spent to not only save a deal, but to get the latest and greatest on how a home’s amenities are considered.
At the end of the day, it was a good day for the good guys. The loan continues to hurtle its way toward the closing date and there’s another happy family who will be new home owners well before pool season.