The answer is, 'Yes,' the closing will most certainly be delayed because no lender will give a 'clear to close,' without knowing if the value is there. Especially in a market that varies from street to street in some cases! It's unfortunate, but this is a case where with the new rules, loan originators, and processors no longer choose the appraisers. They must draw from a 'pool' of appraisers. Unfortunately, some appraisers are better and more timely than others. Due to the new rules appraisers now seem to be taking longer to get the appraisals completed. We went from a 10 day turn around to a 30 day turn around. Patients is all you have.

Hi Justuz4,
Sorry for your delay. I know you are probably eagerly waiting to move in to your new home. This is such an exciting time in your families life.
If the appraisal has just been ordered, the appraiser can have several days to complete the appraisal depending on your type of loan. It would be best to check with your lender for the timeframe when the appraisal is due and when you will be able to settle on your new home.
Good luck and congratulations!
Warm Regards,
Eunice Waller
Prudential Simpson & Associates
540-842-1061

"Helping Families Since 1984!"