VA Appraisals in Colorado Springs: What To Expect

Buying or selling with a VA loan in Colorado Springs can feel complex, especially when you hear terms like NOV, Tidewater, and ROV. You want a smooth closing and a clear plan if the value comes in short. In this guide, you’ll learn how VA appraisals work locally, what can affect timelines, and exactly what to do if the appraisal is low. Let’s dive in.

VA appraisal basics in Colorado Springs

A VA appraisal serves two purposes. It estimates market value for the VA loan guarantee and checks whether the home meets Minimum Property Requirements for safety, soundness, and sanitation. It protects the lender and the VA program, not the buyer.

The appraiser looks at comparable sales, condition, and neighborhood characteristics. Common MPR items include a functioning heating system, no active roof leaks, sound foundation, and safe electrical and plumbing. Major health or safety hazards can trigger required repairs before closing.

VA appraisal vs home inspection

A VA appraisal is not a home inspection. Appraisers focus on value and basic habitability. They will not uncover every defect. You should still get a professional inspection to understand the home’s condition.

Notice of Value and your options

The Notice of Value, or NOV, is the VA’s formal value used to set the maximum insurable loan amount. If the NOV is lower than the contract price, you cannot close at the higher price unless the gap is addressed.

Here is how buyers and sellers often respond when the NOV is below the contract price:

• Seller reduces the price to the NOV.
• Buyer brings cash to cover the difference.
• Seller completes appraiser-required repairs that may support a higher value if accepted by the appraiser or VA.
• Buyer and lender submit a Reconsideration of Value with stronger evidence.
• Parties cancel the contract.

Reconsideration of Value, step by step

A Reconsideration of Value, or ROV, asks the lender and VA to review the appraised value. Your case is stronger with clear, market-based evidence:

• Recent comparable sales from the last 3 to 6 months, ideally nearby, with MLS details.
• Signed contracts for comparable homes when available.
• Photos and documentation showing upgrades and condition.
• Permits and invoices for improvements.
• Corrections to appraisal errors, such as square footage or bedroom count.

ROVs are not guaranteed. Timeline varies from a few days to several weeks, depending on workload and complexity.

Tidewater alert explained

Tidewater is a notice that the appraised value may be below the contract price and that more information may be needed. It creates a short window for the seller to provide supporting data or take action. Because local practices can vary, coordinate closely with your lender and the VA specialist on deadlines and next steps.

Typical timeline in El Paso County

Timing can vary based on season and workload, especially during PCS moves. Plan for:

• Appraisal ordered to inspection: about 7 to 14 days in normal conditions.
• In peak PCS season: often 2 to 3 weeks, possibly longer if repairs or follow-up inspections are required.
• ROV review window: a few days to several weeks, depending on evidence and volume.

What can delay your appraisal

• High demand and a limited pool of certified VA appraisers.
• Property access issues for occupied or relocating homes.
• Required repairs or pest inspections that need re-inspections.
• Complex properties, such as large acreage or unpermitted additions.

Local issues Colorado Springs appraisers flag

Homes in Colorado Springs and El Paso County often see these items cited on VA appraisals:

• Roof wear linked to snow and freeze-thaw cycles, and signs of active leaks.
• Drainage and grading concerns during spring runoff.
• Deferred maintenance or water intrusion in older neighborhoods.
• Unpermitted additions or finished spaces that may be excluded from living area and value.
• Peeling exterior paint on pre-1978 homes due to lead-based paint concerns.
• Driveway and garage slab cracking from freeze-related conditions.

Seller checklist to get VA-ready

If you are considering a VA offer, prepare early so you can keep momentum after going under contract.

• Get a pre-listing CMA or appraisal if your price is ahead of recent sales.
• Address obvious MPR items: repair active roof leaks, ensure heat is functional, correct unsafe electrical or plumbing, and remediate insect issues.
• Fix trip hazards on stairs and add or repair handrails where needed.
• Gather support for value: receipts, permits, warranties for upgrades, and nearby comparable sales.
• Be ready to negotiate price or complete required repairs if the NOV is below contract price.

Buyer checklist to stay ahead

VA buyers in Colorado Springs benefit from a proactive plan, especially during PCS season.

• Order a home inspection in addition to the VA appraisal.
• Prepare for an appraisal gap by planning for cash or negotiating a price change.
• Work with your lender and agent to assemble a strong ROV package if there are better comps or appraisal errors.
• Get contractor estimates when repairs are required so you can negotiate scope and timing.
• Communicate PCS timelines to your lender and the seller early, and allow buffer time near peak season.

Seller concessions explained

VA rules allow certain seller concessions that typically cover closing costs, prepaids, and discount points, generally up to a customary limit based on the VA reasonable value or loan amount. Concessions cannot cover a down payment and do not change the NOV. They can help with closing costs, but they will not close a valuation gap when the appraised value is below the contract price.

Make your move with a local guide

Colorado Springs is shaped by nearby installations like Fort Carson, Peterson Space Force Base, Schriever Space Force Base, Cheyenne Mountain Space Force Station, and the U.S. Air Force Academy. With frequent PCS moves and seasonal surges, planning for appraisal timing and NOV outcomes is essential. You deserve clear steps and a steady hand from offer to closing.

If you want a consultative partner who understands military timelines and VA specifics, connect with Harrison McWilliams. With a hands-on, single-agent model and a military background, Harrison brings calm, clear guidance and Compass-backed resources to your transaction. Ready to map your next steps? Reach out to Harrison McWilliams.

FAQs

What is a VA appraisal and why it matters

• It sets the VA’s Notice of Value for your loan and checks basic habitability through Minimum Property Requirements.

How long do VA appraisals take in Colorado Springs

• Expect about 7 to 14 days in normal periods and 2 to 3 weeks or more during peak PCS season or when repairs and re-inspections are needed.

What happens if my VA appraisal is low in El Paso County

• You can negotiate a price reduction, bring cash to cover the gap, complete value-supporting repairs, submit a Reconsideration of Value, or cancel.

What is Tidewater in a VA appraisal process

• It is a notice that value may come in low and you have limited time to provide supporting data or pursue alternatives per lender guidance.

How does a Reconsideration of Value work for VA loans

• Your lender submits evidence like recent comparable sales, permits, invoices, photos, and error corrections for the appraiser or VA to review.

Can seller concessions fix a VA appraisal gap

• No, concessions can reduce closing costs but do not change the NOV or cover the difference between price and appraised value.

Can unpermitted square footage count in a VA appraisal

• Appraisers often exclude unpermitted space from living area and may require permits or mitigation, which can reduce value.

Do I still need a home inspection with a VA loan

• Yes, a VA appraisal does not replace a home inspection and will not uncover all defects.