I have a question for any bees out there who have recently purchased a house. Our lending company is telling us it will take nearly 2 weeks to get our appraisal back, but our realtor says it shouldn't take that long. How long did it take for you to get your appraisal back?
-
When we were buying it was within a week. When we had it reappraised it took about 2.
-
Gave the lender my credit card for the appraisal on a Thursday, appraisal was scheduled for the following Thursday, and the report arrived in the mail the Tuesday after that...so from start to finish including scheduling to report in hand was 12 days.
-
We got the results back within about a week of it being done. We aren't totally sure when it was done but I think maybe it was 5 days before we got the report?
-
A lot depends on how easy your home is to appraise. If you are in an area with lots of houses, moderate turnover, and similar price ranges, it should be easy. If you are rural, your home has unique features, the firm or appraiser is really busy, etc. it could take longer.
-
We're in the same state of limbo right now. The appraisal was done last Wednesday, but I haven't heard/seen/received the report yet. It's only been a week, but I'm anxious! I hate the waiting game (for anything!).
-
Ours only took a few days....
-
def no more than 5 days I'd say?
-
Like 24-48 hours maybe?
-
Thanks everyone! The sellers won't discuss some major home repairs (foundation issues, fixing the chimney) until we get the appraisal back, which means we'd have to extend our due diligence period by two weeks at this point. Our realtor doesn't think they'll do that since they have a few other offers on the house. We're at a loss as to what we could do if we can't get the appraisal back faster and they won't extend the due diligence period...
-
As a banker I know it can take our underwriters up to 5buisness days to review an appraisal. Obviously this is different depending on the lenders size, and we are a small bank
Eta- typically I see appraisals actually getting sent to the bank in 3 buisness days.
So I would say atleast 7 buisness days!
-
It was 2-3 days... can't remember exactly but I was surprised because they told me it would take a week. I think it depends on when you get... aka how busy the person doing the appraisal is.
Reply
Subscribe to our newsletter
- Google Plus
- Stumbleupon
- Twitter
- Facebook
- Pinterest
- Favorite0
11 comments