A standard residential appraisal takes 10-14 business days from the time your lender orders it to when the report is delivered. The process includes assignment acceptance, scheduling the inspection, the physical property visit, comparable sales research, and report preparation.
Timeline Overview
Standard residential appraisal: 10-14 business days.
Timeline breakdown:
- Day 1-2: Lender orders appraisal
- Day 2-3: Appraiser accepts assignment
- Day 3-5: Schedule inspection
- Day 5-7: Conduct inspection
- Day 7-10: Prepare report
- Day 10-14: Deliver report
Total: ~2 weeks from lender order to report received.
Step 1: Lender Orders Appraisal
Lender submits appraisal request.
Information included:
- Property address
- Loan amount
- Purpose (purchase, refi, etc.)
- Deadline (typically 10 business days)
- Fee ($400-$600)
- Special instructions
Lender uses appraisal management company (AMC) or orders directly.
Step 2: AMC Receives Order
If going through AMC:
AMC logs request into system.
AMC reviews:
- Appraiser availability in area
- Appraiser qualifications for property type
- Appraiser workload
AMC assigns appraiser (or reaches out to available appraisers).
Direct lender: Contacts appraiser directly.
Timeline: Usually same day or next day.
Step 3: Appraiser Accepts Assignment
Appraiser receives request (through AMC portal or email).
Appraiser reviews:
- Can they meet deadline?
- Is fee acceptable?
- Are they qualified for property type?
- Any conflicts of interest?
Appraiser accepts or declines.
If accepts: Timeline begins.
If declines: Goes to next appraiser (usually quick process).
Step 4: Schedule Inspection
Once accepted, appraiser contacts borrower (or real estate agent) to schedule.
Scheduling details:
- Convenient time for property access
- Usually 1-2 weeks out
- 1-2 hour window for inspection
- Appraiser needs to access interior and exterior
Borrower coordinates access (if renting or occupied).
Step 5: Conduct Appraisal Inspection
Appraiser inspects property.
What appraiser does:
Exterior Inspection:
- Measure lot size
- Photograph front, rear, sides
- Note condition (roof, siding, foundation, etc.)
- Check driveway, walkways, outbuildings
Interior Inspection:
- Measure rooms (length, width)
- Count bedrooms, bathrooms
- Note condition (flooring, walls, ceiling)
- Check kitchen (appliances, condition)
- Check bathrooms (fixtures, condition)
- Note HVAC, plumbing, electrical
Special Features:
- Pool/spa condition
- Deck/patio
- Garage type and condition
- Basement/crawl space
- Attic
- Any recent improvements
Photos:
- Multiple photos of exterior
- Interior rooms
- Special features
- Problem areas (if any)
Inspection usually takes 30-60 minutes.
Step 6: Research and Analysis
After inspection, appraiser returns to office.
Research includes:
Market Data:
- Recent comparable sales
- Days on market
- Listing vs. sale prices
- Market trends
Property Records:
- Tax records
- Building permits
- Deed information
- Assessment data
Comparable Selection:
- Find 3-5 similar properties sold recently
- Note similarities and differences
- Prepare for adjustments
Neighborhood Analysis:
- School quality
- Employment centers
- Amenities
- Trends (gentrification, decline, etc.)
Research phase: 3-5 hours typical.
Step 7: Calculate Adjustments
For each comparable:
Appraiser adjusts comp price to equal subject.
Adjustments for:
- Size difference
- Age difference
- Condition difference
- Location difference
- Special features (pool, garage, etc.)
Example:
- Comp sold for $450,000
- Comp 200 sq ft smaller (adjust up $20,000)
- Comp has 2 baths, subject has 2.5 (adjust down $8,000)
- Comp newer by 5 years (adjust down $15,000)
- Adjusted comp value: $450K + $20K - $8K - $15K = $447K
Appraiser prepares 3-5 comparable adjustments.
Each adjustment carefully documented.
Step 8: Value Reconciliation
Appraiser reconciles comparable values.
Example:
- Comp 1 adjusted value: $447,000
- Comp 2 adjusted value: $451,000
- Comp 3 adjusted value: $449,000
Average: ~$449,000
Appraiser concludes: "Market value is $450,000"
(Rounded to reasonable figure)
Step 9: Write Appraisal Report
Appraiser prepares written report.
Report includes:
- Property description
- Neighborhood analysis
- Comparable sales analysis
- Adjustments and reasoning
- Value approaches (cost, income if applicable)
- Final value conclusion
- Certification statement
- Photos and addenda
Report: 20-35 pages typical.
Step 10: Quality Control Review
Some appraisers (or AMCs) perform QC review.
Reviewer checks:
- Math accuracy (calculations correct?)
- Comparable selection (reasonable?)
- Adjustments (justifiable?)
- Report completeness (all required sections?)
- USPAP compliance (standards met?)
If issues found: Appraiser revises.
Otherwise: Approved for delivery.
Step 11: Deliver Report
Report delivered to lender.
Delivery method:
- Email PDF (most common)
- Through AMC portal
- Secure upload
Lender receives report.
Lender reviews for compliance and value.
If value supports loan: Process continues.
If value is low: Renegotiation or appraisal challenge.
Step 12: Borrower Receives Copy
Lender provides copy to borrower.
Timing varies:
- Sometimes same day as lender
- Sometimes day after
- Sometimes day of closing
Borrower reviews appraisal.
If questions: Can request explanation from appraiser (through lender).
Timeline Variations
Standard 10-14 days assumes:
- Appraiser available
- Property easily accessible
- Standard property (no complications)
- No major revisions needed
Delays happen when:
- Appraiser very busy (assignments back up)
- Property hard to access (tenant uncooperative)
- Complex property (lots of research required)
- Lender requests revisions
Rush appraisals: 5-7 days possible (extra fee).
Appraisal Hold-Ups
Common reasons for delays:
Scheduling:
- Can't reach borrower
- Property not accessible
- Landlord won't allow access
Research:
- Limited comparable data
- Unique property (hard to find comps)
- Market analysis more complex
Revisions:
- Lender questions value
- Additional information needed
- Photos missing
System delays:
- AMC backlog
- Appraiser illness
- Administrative issues
Communicate with lender/appraiser if delays occur.
Expedited Appraisals
Some lenders offer rush service.
Fast appraisal timeline:
- Day 1: Order placed
- Day 2: Appraiser assigned
- Day 3: Inspection completed
- Day 4-5: Report prepared
- Day 5: Report delivered
Cost: Extra $200-$400 fee.
Not always available (depends on appraiser availability).
Remote/AVM Appraisals
Newer trend: Automated Valuation Models (AVMs).
No inspection appraisal:
- Lender uses previous appraisal data
- Uses AVM algorithm
- Lender waives inspection
- Much faster (~2-3 days)
More risky (appraiser doesn't inspect).
Used for refinances with strong equity.
Appraisal Contingency Timeline (Purchases)
Home purchase with appraisal contingency:
Timeline:
- Day 1: Offer accepted
- Day 3: Appraisal ordered
- Day 10-14: Appraisal completed
- Day 14: Contingency deadline (buyer decides)
If appraisal is low: Buyer can renegotiate or walk away.
If appraisal supports price: Process continues to closing.
Typical Full Timeline (Refi)
Full refinance timeline:
- Day 1: Application
- Day 3: Appraisal ordered
- Day 14: Appraisal received
- Day 16: Underwriting review
- Day 20: Conditional approval
- Day 24: Final approval
- Day 27: Closing
Appraisal is ~Day 14 of process.
Appraisal completion critical to timeline.
Communication During Appraisal
Borrower can:
- Provide info to lender/appraiser (recent improvements, etc.)
- Make property accessible
- Respond to appraiser questions
Borrower should NOT:
- Contact appraiser directly (usually)
- Try to influence appraisal
- Complain about timeline (appraisers are busy)
Work with lender on communication.
Bottom Line
Appraisal process: 10-14 days typical.
Key steps:
- Lender orders
- Appraiser accepts
- Schedule inspection
- Conduct inspection
- Research comparable sales
- Calculate adjustments
- Reconcile value
- Write report
- Quality control
- Deliver to lender
- Borrower receives copy
Timeline can be expedited (rush fee) or delayed (complications).
Appraisal is critical step in lending/purchase process.
Understand timeline so you're not surprised.