{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/6.2-407.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/6.2-407.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/6.2-407.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/6.2-407.html"}],"law_id":76659,"edition_id":1,"section_id":76659,"structure_id":13385,"section_number":"6.2-407","catch_line":"Lenders to furnish borrower with copy of appraisal","history":"1979, c. 101, \u00a7 6.1-2.9; 1988, c. 155; 1990, c. 7; 2010, c. 794.","full_text":"Any lender that requires a borrower or prospective borrower to pay for an appraisal of residential real estate made in connection with a loan or application for a loan secured by the real estate shall, upon request by the borrower or prospective borrower, furnish free of charge the borrower or prospective borrower with a copy of the written appraisal or, if no written appraisal exists, with a statement of the appraised value within 10 business days of the receipt of such request.","order_by":null,"text":{"0":{"id":275175,"text":"Any lender that requires a borrower or prospective borrower to pay for an appraisal of residential real estate made in connection with a loan or application for a loan secured by the real estate shall, upon request by the borrower or prospective borrower, furnish free of charge the borrower or prospective borrower with a copy of the written appraisal or, if no written appraisal exists, with a statement of the appraised value within 10 business days of the receipt of such request.","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1}},"ancestry":[{"id":13385,"edition_id":1,"name":"Loans Secured by Lien on Real Estate","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":12854,"metadata":{},"date_created":"2026-06-26 03:44:46","date_modified":"2026-06-26 03:44:46","permalink":{"id":263491,"object_type":"structure","relational_id":13385,"identifier":"2","token":"6.2\/I\/4\/2","url":"\/6.2\/I\/4\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12854,"edition_id":1,"name":"Certain Lending Practices","identifier":"4","label":"chapter","depth":3,"order_by":1,"parent_id":12853,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263463,"object_type":"structure","relational_id":12854,"identifier":"4","token":"6.2\/I\/4","url":"\/6.2\/I\/4\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12853,"edition_id":1,"name":"General Provisions","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12852,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263251,"object_type":"structure","relational_id":12853,"identifier":"I","token":"6.2\/I","url":"\/6.2\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12852,"edition_id":1,"name":"Financial Institutions and Services","identifier":"6.2","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:56","date_modified":"2026-06-26 03:43:56","permalink":{"id":263249,"object_type":"structure","relational_id":12852,"identifier":"6.2","token":"6.2","url":"\/6.2\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":68627,"structure_id":13385,"section_number":"6.2-406","catch_line":"Disclosure of terms of mortgage application","url":"\/6.2-406\/","token":"6.2\/I\/4\/2\/6.2-406","metadata":false},{"id":76659,"structure_id":13385,"section_number":"6.2-407","catch_line":"Lenders to furnish borrower with copy of appraisal","url":"\/6.2-407\/","token":"6.2\/I\/4\/2\/6.2-407","metadata":false},{"id":73416,"structure_id":13385,"section_number":"6.2-408","catch_line":"Priority of interest on debts secured by mortgage or deed of trust","url":"\/6.2-408\/","token":"6.2\/I\/4\/2\/6.2-408","metadata":false},{"id":55630,"structure_id":13385,"section_number":"6.2-409","catch_line":"Addition of unpaid interest to principal balance","url":"\/6.2-409\/","token":"6.2\/I\/4\/2\/6.2-409","metadata":false},{"id":86582,"structure_id":13385,"section_number":"6.2-410","catch_line":"Borrowers not to be required to employ particular professionals","url":"\/6.2-410\/","token":"6.2\/I\/4\/2\/6.2-410","metadata":false},{"id":86576,"structure_id":13385,"section_number":"6.2-411","catch_line":"Requirements relating to insurance","url":"\/6.2-411\/","token":"6.2\/I\/4\/2\/6.2-411","metadata":false},{"id":75246,"structure_id":13385,"section_number":"6.2-412","catch_line":"Insurance coverage under certain loans not to exceed replacement value of improvements","url":"\/6.2-412\/","token":"6.2\/I\/4\/2\/6.2-412","metadata":false},{"id":79804,"structure_id":13385,"section_number":"6.2-413","catch_line":"Obligation of lender to reimburse unused mortgage guaranty insurance premiums","url":"\/6.2-413\/","token":"6.2\/I\/4\/2\/6.2-413","metadata":false},{"id":70580,"structure_id":13385,"section_number":"6.2-414","catch_line":"Obligation of person maintaining escrow account to pay taxes and insurance; penalties","url":"\/6.2-414\/","token":"6.2\/I\/4\/2\/6.2-414","metadata":false},{"id":84302,"structure_id":13385,"section_number":"6.2-415","catch_line":"Lender not to cancel insurance policy at time of refinancing under certain circumstances","url":"\/6.2-415\/","token":"6.2\/I\/4\/2\/6.2-415","metadata":false},{"id":59737,"structure_id":13385,"section_number":"6.2-416","catch_line":"Certain mortgages not to prohibit further encumbrance of real property","url":"\/6.2-416\/","token":"6.2\/I\/4\/2\/6.2-416","metadata":false},{"id":72706,"structure_id":13385,"section_number":"6.2-417","catch_line":"Mortgage or deed of trust to contain notice that debt is subject to call or modification on conveyance of property","url":"\/6.2-417\/","token":"6.2\/I\/4\/2\/6.2-417","metadata":false},{"id":81416,"structure_id":13385,"section_number":"6.2-418","catch_line":"Property owner entitled to written statement of payoff amount","url":"\/6.2-418\/","token":"6.2\/I\/4\/2\/6.2-418","metadata":false},{"id":76947,"structure_id":13385,"section_number":"6.2-419","catch_line":"Disclosure of terms of assumption","url":"\/6.2-419\/","token":"6.2\/I\/4\/2\/6.2-419","metadata":false},{"id":82644,"structure_id":13385,"section_number":"6.2-420","catch_line":"Prepayment penalty not to be collected in certain circumstances","url":"\/6.2-420\/","token":"6.2\/I\/4\/2\/6.2-420","metadata":false},{"id":76124,"structure_id":13385,"section_number":"6.2-421","catch_line":"Certain contracts to permit prepayment; amount of prepayment penalty","url":"\/6.2-421\/","token":"6.2\/I\/4\/2\/6.2-421","metadata":false},{"id":54357,"structure_id":13385,"section_number":"6.2-422","catch_line":"Prepayment penalty for loan secured by home occupied by borrower","url":"\/6.2-422\/","token":"6.2\/I\/4\/2\/6.2-422","metadata":false},{"id":61310,"structure_id":13385,"section_number":"6.2-423","catch_line":"Prepayment of loans secured by certain subordinate mortgages or deeds of trust; rebates for unearned interest","url":"\/6.2-423\/","token":"6.2\/I\/4\/2\/6.2-423","metadata":false}],"previous_section":{"id":68627,"structure_id":13385,"section_number":"6.2-406","catch_line":"Disclosure of terms of mortgage application","url":"\/6.2-406\/","token":"6.2\/I\/4\/2\/6.2-406","metadata":false},"next_section":{"id":73416,"structure_id":13385,"section_number":"6.2-408","catch_line":"Priority of interest on debts secured by mortgage or deed of trust","url":"\/6.2-408\/","token":"6.2\/I\/4\/2\/6.2-408","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/6.2-407\/","history_text":"

This law was first created in 1979. The record of its establishment is cataloged in chapter 101 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1979 \u201cActs\u201d aren\u2019t available online. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 1988, chapter 155; in 1990, chapter 7; in 2010, chapter 794<\/a>.<\/p>","references":false,"refers_to":false,"permalink":{"id":263497,"object_type":"law","relational_id":76659,"identifier":"6.2-407","token":"6.2\/I\/4\/2\/6.2-407","url":"\/6.2-407\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/6.2-407\/","token":"6.2\/I\/4\/2\/6.2-407","dublin_core":{"Title":"Lenders to furnish borrower with copy of appraisal","Type":"Text","Format":"text\/html","Identifier":"\u00a7 6.2-407","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

Any lender that requires a borrower or prospective borrower to pay for an appraisal of residential real estate made in connection with a loan or application for a loan secured by the real estate shall, upon request by the borrower or prospective borrower, furnish free of charge the borrower or prospective borrower with a copy of the written appraisal or, if no written appraisal exists, with a statement of the appraised value within 10 business days of the receipt of such request.<\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nLENDERS TO FURNISH BORROWER WITH COPY OF APPRAISAL (\u00a7 6.2-407)\n\nAny lender that requires a borrower or prospective borrower to pay for an\nappraisal of residential real estate made in connection with a loan or\napplication for a loan secured by the real estate shall, upon request by the\nborrower or prospective borrower, furnish free of charge the borrower or\nprospective borrower with a copy of the written appraisal or, if no written\nappraisal exists, with a statement of the appraised value within 10 business\ndays of the receipt of such request.\n\nHISTORY: 1979, c. 101, \u00a7 6.1-2.9; 1988, c. 155; 1990, c. 7; 2010, c. 794.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}