PUDs and Condos

The appraisal report must

·   show the amount of the current monthly assessment

·   for condominiums, indicate which utilities are/are not included, and

·   comment on the adequacy of the monthly assessment, based upon the appraiser’s opinion of the adequacy of the project’s budget and a comparison to competitive projects.  If the assessment is considered inadequate, a “fair” or “market” assessment must be recommended.

Reference:  See Chapter 16 for additional information.

Solar Energy Systems

For VA purposes, the value of a solar energy system must be based on real estate market data.

Reference:  See Section 12.03, for solar system requirements.

Local Housing/

Planning Authority Code Enforcement

If the property is existing construction which is located in an area where specific local housing/planning authority code requirements are enforced in conjunction with the sale of homes, the appraiser’s report must take into consideration.