How long does it take for the bank to get an appraisal report?

Primatanya
Other/Just Looking
08816

Answers (4)
Ruth Bonapace
Mortgage Broker
or Lender

Hoboken, NJ

At my company it takes anywhere from a few days to a week after the appraiser goes to the property.
Ruth Bonapace
mortgage specialist
ruthbonapace@gmail.com

Sun May 10 2009, 04:40
Vicky Chrisner
Agent
Leesburg, VA

allow 30 days - new changes are delaying this process.

Thu May 7 2009, 23:37
John Sacktig
Broker
East Brunswick, NJ

Two sided question...

One.. after the apprasial report is ordered, depending upon the bank, it could be a week to get the appraiser into the property and it could happen within a 48 hours ( very rare)

Two.. if the appraisal has just been done.. you are at the mercy of the apprasier and his/her schedule, when they get back to the office complete the data entry and send it to the bank.. I have seen 48 hours and I have seen10 days... also depends on the appraiser and performance.

Thu May 7 2009, 20:06
John DeMars
Agent
West Orange, NJ
FIRST ANSWER

Without knowing your particular situation. (Purchase, Refinance, FHA etc) Depending on the Bank and several other factors it could take up to a week or more. Normaly the bank will place the order for the appraisal. The order will be assigned to an appraiser. The appraiser has to make an appointment and do the inspection at the property. This can take a few days. Once the inspection is completed the appraiser has to gather all of the data needed for the report. Usually the report is submitted back to the bank within a day or two of the inspection. The appraisal report is then reviewed by an underwriter before being approved. Without any outside factors the bank should have the appraisal within a week. Any further questions please ask.

Thu May 7 2009, 19:40

Didn’t find what you were looking for? Ask a question!

Search Advice

Ask a question

Got a real estate question? Get answers from locals, experts and real estate pros.
Ask
Email me when…

Learn more

View all » 1 - 3 of 13
Copyright © 2009 Trulia, Inc. All rights reserved.   |   Fair Housing and Equal Opportunity
Help us improve our service—send us feedback