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The fee for Washington state has been $500 for an appraisal with up to 10 days for the appraisal to be delivered. Before the appraisal crisis, many would often complain about how long it took to get a VA appraisalâ¦however, 10 days to receive an appraisal for $500 would now be a dream come true. Well get ready for higher VA fees and for the turn times to take longer. VA just issued a notice that effective November 1, 2016, the cost for an appraisal for a single family home utilizing a VA mortgage will increase to $800! In addition, appraisers will be allowed 14 business days to complete an appraisal (up from 10 business days).
The appraisal should contain at least three home sales in the area that have occurred within the past 12 months, these sales are called âcomps.â. If the homes in the area show that they sold for around $100 per square foot, then the appraisal will likely be at or above the $250,000 sales price of the home.For instance, one house sold for $275,000 and is 2,800 square feet, or $98 per square foot.Another home sold for $280,000 and is 2,500 square feet, or $112 per square foot. So far, so good.owever, one home sold for $250,000 and is 3,000 square feet, or $83. When the VA lender sees the appraisal and the comp is so much lower than the subject property, the lender may ask for another comp or ask for additional information about the lower-priced comparable sale.