VA Form 26-1805 Request for Determination of Reasonable Value (Real Estate)

What Is VA Form 26-1805?

This is a legal form that was released by the U.S. Department of Veterans Affairs on July 1, 2017 and used country-wide. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is VA Form 26-1805?A: VA Form 26-1805 is a form used to request the determination of reasonable value for real estate.

Q: Who uses VA Form 26-1805?A: This form is used by individuals who are applying for a VA loan to purchase or refinance a property.

Q: What is the purpose of VA Form 26-1805?A: The purpose of this form is to determine the reasonable value of the property to ensure that it meets the VA's requirements for loan eligibility.

Q: What information is required on VA Form 26-1805?A: The form will ask for details about the property, such as its address, the intended use of the property, and any improvements or repairs that may be needed.

Q: How long does it take to get a determination of reasonable value?A: The length of time can vary, but typically it takes around 10 business days to receive a determination of reasonable value after submitting VA Form 26-1805.

Q: What does the determination of reasonable value mean?A: The determination of reasonable value is an assessment of the fair market value of the property based on factors such as location, condition, and comparable sales in the area.

Q: Is there a fee for submitting VA Form 26-1805?A: Yes, there is usually a fee associated with the appraisal process, which is paid by the borrower or included in the closing costs of the loan.