How long will the appraisal inspection take?
|The appraisal inspection usually takes about 30-60 minutes, depending on the size of the property.|
What will the appraisal do when he comes out?
|The appraiser will do the following:|
- measure the square footage of the dwelling(s)
- take photos of the exterior
- take photos the interior including each room
- take photos of upgrades
- take photos of deferred maintenance (if present)
- take photos of furnace, central air, detectors, etc.
If your property has a FHA loan the appraiser will also check the following:
- utilities – power, water, and gas
- crawl space
Does my house need to be clean?
|No, when the appraiser comes out he is looking at the condition of your house, not what’s in it.|
How long will it take to complete the report and send it to my lender?
|Typically it will take three to five days to complete the analysis and develop the report before it can be sent to the lender.|
So what do you think my house is worth?
The appraiser will no be able to discuss the value with you because the lender is their client. By talking to you about the value, he/she would breach the confidentiality. However, the lender is obligated to provide you with a copy of the appraisal report 3 days prior to closing.