what is the current cost per square foot used in a VA appraisal of a home
The appraisal should contain at least three home sales in the area that have occurred within the past 12 months, these sales are called âcomps.â. If the homes in the area show that they sold for around $100 per square foot, then the appraisal will likely be at or above the $250,000 sales price of the home.For instance, one house sold for $275,000 and is 2,800 square feet, or $98 per square foot.Another home sold for $280,000 and is 2,500 square feet, or $112 per square foot. So far, so good.owever, one home sold for $250,000 and is 3,000 square feet, or $83. When the VA lender sees the appraisal and the comp is so much lower than the subject property, the lender may ask for another comp or ask for additional information about the lower-priced comparable sale.