Final answer:
A CVR (VA appraisal) is not valid for resale purposes on an existing property.
Step-by-step explanation:
A CVR (VA appraisal) is not valid for resale purposes on an existing property.
A CVR, or Certificate of Reasonable Value, is an appraisal used by the Department of Veterans Affairs (VA) to determine the maximum loan amount they are willing to guarantee for a VA home loan. However, this appraisal is only valid for initial financing and is not intended for determining the resale value of a property.
For resale purposes, a current market appraisal conducted by a licensed appraiser would be needed to determine the fair market value of the property.