Home Buying in Southfield>Question Details

Theanointed…, Home Buyer in Southfield, MI

How long does it take for appraisal?

Asked by Theanointed Barberette, Southfield, MI Thu Oct 10, 2013

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Answers

7
Yes it does depend.

Your loan officer doesn't really have control over who performs the appraisal and the law only permits limited contact with the appraiser, although following up on the status of the appraisal is permitted.

Has the appraisal been conducted and you are just waiting for the report to come back? Or has the lender ordered it and the appraiser has not yet been out? If it's not back yet, there might be some complications or difficulty in obtaining comps. If it was ordered several days ago and they just havent been out yet, then you should ask your lender to re-place the order elsewhere.

In the Southfield area there is really no reason for an appraisal to take more than 2 weeks from the time it is ordered.

If I can be of assistance please let me know.

Tony Grech | Mortgage Loan Originator | NMLS #977416
PMAC Lending Services, Inc.
24901 Northwestern Hwy. #110
Southfield, MI 48075

Direct (248) 945-9070 ext. 278
Toll-free (855) 642-4762 ext. 278
Mobile (313) 622-7383
Fax (248) 945-4842

tony.grech@pmac.com
0 votes Thank Flag Link Fri Oct 11, 2013
Once the bank has ordered an appraisal, it can take a few days to a few weeks for the appraisal to happen.
0 votes Thank Flag Link Fri Oct 11, 2013
If Appraiser is on it, can take only a few days. If they are not can take a few weeks
0 votes Thank Flag Link Fri Oct 11, 2013
In large part it depends on how quickly your lender submitted the appraisal request. Generally speaking once the appraisal request has been received by the appraiser the turn around time is between 3-7 days. Check with your lender to see when the request was submitted. Lenders do not get to select who the appraiser will be. Each lender has an approved appraiser pool and the appraisals are randomly distributed within this pool.
0 votes Thank Flag Link Fri Oct 11, 2013
Karen and Matheno are bot on the mark with their response. Generally, however, you should be able to plan on about a week's time to have the document in hand.

Good luck,

Bill
0 votes Thank Flag Link Fri Oct 11, 2013
Depends on who the lender uses. It could be anywhere from days to a couple of weeks.
0 votes Thank Flag Link Fri Oct 11, 2013
I've seen it take anywhere from a couple of days the 3 weeks.

Good Luck!

Karen Paytas, GRI, CMS
Realtor
Real Living Kee Realty
586-709-8465
kpaytas@mirealsource.com
0 votes Thank Flag Link Thu Oct 10, 2013
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