§ 36.4343. Restriction on designated fee appraisers.
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/us/cfr/t38/s§ 36.4343·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)A designated fee appraiser shall not make an appraisal, excepting of alterations, improvements, or repairs to real property entailing a cost of not more than \$3,500, if such appraiser is an officer, director, trustee, employer, or employee of the lender, contractor, or vendor.
(b)An appraisal made by a designated fee appraiser shall be subject to review and adjustment by the Secretary. The amount determined to be proper upon any such review or adjustment shall constitute the "reasonable value" for the purpose of determining the eligibility of the related loan. (Authority 38 U.S.C. 3703(c)(1), 3731)
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§ 36.4343
Restriction on designated fee appraisers.
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