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Builder ID's - For an existing property, less than one year old, built out to customer preference items, does the builder have to be on the VA approved builder list?

Published 08/09/2012 12:32 PM   |    Updated 08/09/2012 12:32 PM
For an existing property, less than one year old, built out to customer preference items, does the builder have to be on the VA approved builder list?
An existing property, less than one year old and completed except for customer preference items is considered "New Construction."  For any property appraised as "New Construction", the builder must have a valid VA-assigned builder ID number.  (Reference:  VA Lender's Handbook - VA Pamphlet 26-7), Section 10.07.