May 13, 2015 02:03 AM These days it is possible to receive an appraisal within just a few days. Generally you have a few options: Get a reconsideration of value based on comparable sales data. The results of an appraisal vary, however, the time to hear back typically doesn’t exceed 10 days. August 10, 2015 at 1:00 p.m. UTC. Everytime she needs more paperwork I get it to her within a few minutes, considering the bank is right down the road. How Long Does the Process Take? The most common question I get after leaving a home on an appraisal assignment is about how long it will take to complete an appraisal and get the report back. How Long Does A Home Appraisal Take? Getting an appraisal report isn’t as simple as calling an appraiser. If the appraisal came in under contract, your gut instinct may be to call up the appraiser and ask about how they came up with that number. (Potential delay: Perhaps the lender needs to finalize credit details before ordering the appraisal.) The appraisal request gets sent to the next available appraiser. How long does it take to hear back after an appraisal? Depending on the process, once the appraisal is ordered, it can be anywhere from a week to a month before the lender gets the appraisal back. By Shannon Slater. A rush request and possible fee could increase chances of this turnaround. Real Estate Appraiser with DW Slater Company 1350025. Know the appraiser may need to call around, check for permits, and verify certain information for the report. This morning the appraiser called to set up an appt and he's going to be doing the appraisal tomorrow (2/27) morning at 10:00. Take a look at the entire process: The lender orders the appraisal. This is another loaded question. Another common question is: How long does the FHA home appraisal process take? It depends on the appraisal complexity, appraiser order quantity, travel distance, and the appraiser’s speed. What the lender is looking for is a healthy loan-to-value ratio, often abbreviated as LTV. The appraisal report could come back in about a week but may take at least 10 days. It states that if the appraisal comes back low, the buyer has the option to back out of the deal and get their earnest money back. But this will depend on the appraiser’s workload, efficiency, and other factors. Why Does it Take So Long to Get the Appraisal Back? In most cases, the appraisal can be completed within a matter of days. The appraisal is usually ordered early enough in the loan process that the lender won’t waste their time if the appraised value isn’t high enough. You may hear back in under a week, or it may take up to ten days to get the results of your appraisal. This is understandable since the owner or buyer is nervous and might worry that their house may … The property visit itself usually only takes a … My loan officer use to be an underwriter for 8 years and has been on top of everything. In this manner, how long should an appraisal take to get back? The two main factors here are (1) how busy the appraiser is; and (2) how long it takes the AMC or compliance department to review the appraisal and submit the final report to the lender. Of course, no lender will order an appraisal until there is an official purchase contract on the home as the appraisal can cost as much as $500 and is the borrower’s responsibility to pay. But if the appraisal does come back lower than expected, you may have some extra work to do. Click to see full answer. A home appraisal contingency is an addendum to the offer contract a buyer submits. Finally, whether you’re a Lender processing an appraisal order with an AMC, or an Appraiser getting ready to push “send” on a freshly minted report, it is highly recommended that you take a few extra seconds to double check your data and correct any pesky errors you find. 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