Realtor Dominic Pucci Examines Increase in VA Loan Appraisal Fees

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Realtor Dominic Pucci, of Nest Egg Realty, in light of Military Family Appreciation Month, educates veterans utilizing a VA loan on the increase of appraisal fees.

Dominic Pucci

The VA loan is still a great product for the military buyer, despite the higher appraisal price. It protects servicemembers and their families when buying a home.

In honor of Military Family Appreciation Month in November, Nest Egg Realty Realtor Dominic Pucci is educating veteran homebuyers on the effects of the appraisal fee increase for those who have qualified for a VA loan. On November 1, 2016, the fee was increased by hundreds of dollars.

“The market won’t change with this. The real issue is supply and demand, as the need for appraisers is high but the supply is low,” said Pucci, a certified VA specialist. “Now that the price has increased, however, there have been more and more appraisers signing up to become VA certified that have never bothered before. This is the main reason why they raised the price of the appraisals, to make it more enticing for appraisers to take on VA appraisal requests and get them assigned sooner.

Although closing costs might go up because of the increase, the benefit for the military buyer is that the closing time will be shorter. No longer will they have to wait 45-60 days. Furthermore, the price of regular (civilian) appraisals will eventually go up, and sellers might choose VA buyers more since their closing times will be shorter.

“The VA loan is still a great product for the military buyer, despite the higher appraisal price,” concluded Pucci. “It protects servicemembers and their families when buying a home.”

About Dominic Pucci, Nest Egg Realty
Dominic Pucci has been working as a real estate agent for nearly 10 years, helping people find their dream homes. He remains fully dedicated throughout the entirety of his clients’ transactions, whether they are buyers or sellers. For more information, please call (719) 208-4596, or visit Nest Egg Realty is located at 4760 Flintridge Drive, Suite 100, Colorado Springs, CO 80918.

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