2015 Code of Virginia
Title 55 - Property and Conveyances
§ 55-525.14. Disclosure of charges for appraisal or valuation using automated or other valuation mechanism
Any lender providing a loan secured by a first deed of trust or mortgage on real estate containing not more than four residential dwelling units shall disclose on the settlement statement, as that term is defined in § 55-525.16, any fee charged to the borrower for an appraisal, as that term is defined in § 54.1-2009, and any fee charged to the borrower for a valuation or opinion of value of the property prepared using an automated or other mechanism prepared by a person who is not licensed as an appraiser under Chapter 20.1 (§ 54.1-2009 et seq.) of Title 54.1.
2008, c. 400, § 6.1-2.13:3; 2010, c. 794.
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