Upcoming Appraisal Changes: What Hampton Roads Buyers and Sellers Should Know
Buying or selling soon? A major update to appraisal reporting is approaching. Understanding the transition can help you ask better questions and prepare useful property information before your appraisal.
What is changing?
Fannie Mae and Freddie Mac are introducing Uniform Appraisal Dataset (UAD) 3.6. The redesign replaces their existing appraisal forms with a single, flexible Uniform Residential Appraisal Report that adapts to the property. The goal is better quality and consistency in appraisal data. Updated guidance also addresses photographs and reporting property measurements.
When does it take effect?
The mandate remains November 2, 2026. However, the agencies announced a temporary policy exception on September 30 for lenders that need additional implementation time. Approved exceptions allow new reports using the older UAD 2.6 format through May 19, 2027. New submissions must use UAD 3.6 starting May 20, 2027; limited resubmissions of older reports remain possible through June 27.
Which loans does this announcement cover?
This is a Fannie Mae and Freddie Mac reporting requirement. Borrowers should ask their lender which appraisal requirements apply to their particular loan, including FHA or VA financing.
How sellers can prepare
Our recommendation: organize a list of renovations and improvements, including completion dates and available permits or invoices. Identify additions, converted spaces, and any differences between public records and the home’s current layout. Share factual documentation through your agent or the lender’s approved process. An improvement’s cost does not guarantee an equal increase in appraised value.
What buyers should ask
Ask your lender which report format will be used, whether the appraisal order is on schedule, and what happens if additional information is requested. Discuss appraisal and financing deadlines with your agent before agreeing to your closing timeline.
The new format is intended to improve reporting consistency. The rollout announcement does not promise a higher valuation, lower fee, or faster closing.
Planning your next move?
Leverage Realty Team can help you prepare property information and coordinate with your lender as you buy or sell in Hampton Roads.