How Long does the Appraisal Process Take?

Understanding the timeline of a home appraisal can make the process feel a lot less stressful, whether you’re buying, selling, or refinancing. So, let’s chat about what you can typically expect when it comes to the time it takes to complete an appraisal.

First off, the actual on-site appraisal usually lasts about one hour or less. During this time, the appraiser inspects your property, measures the home, and takes photos. If you have a unique property or a more complex situation, it could take a bit longer.

Before that on-site visit, though, appraisers need some time to gather information. They’ll be researching local market data, reviewing comparable property sales, and checking public records. This preparation usually adds an extra day or two to the timeline.

After the initial visit, the appraisal process continues. The appraiser will analyze all the data collected and prepare a detailed report. This part can take anywhere from a few days to a week to complete, especially if the appraisal involves a lot of intricate details or if the appraiser has a heavy workload.

Several factors can influence how long the entire process takes. If your property is unique or has extensive improvements, it might require extra time for analysis. In a bustling housing market, appraisers could have a backlog of requests that could lead to longer wait times. Additionally, geographic location is a factor; appraisers in rural areas might take longer due to travel distances, while urban areas tend to have quicker access to multiple appraisers. Finally, if there are any access issues or if the homeowner isn’t available during the appraisal, that can create delays, too.

So, how long does it all come out to? On average, from the moment you order an appraisal to receiving the final report, you can expect the whole process to take about 7 to 10 business days. Just be aware that this could stretch longer during busy times or with complex properties. With Redwood Appraisal, the process is much shorter oftentimes under five business days.

While you’re waiting, it’s a good idea to stay in touch with your real estate agent, lender, or other involved parties for updates. Being proactive can help you address any potential delays or questions that may pop up.

In a nutshell, knowing the timeline for an appraisal helps set realistic expectations as you go through the real estate process. The on-site visit might be quick, but the overall timeline can take a bit of time. It’s all about staying informed and prepared, which will make the journey a lot smoother.