How Long Does a House Appraisal Take?

Home appraisals are an important part of the buying real estate process. They directly affect the amount a lender is likely to give a buyer for a home. They also give a larger context to the transaction, while simply going off the market value for the property may not. But how long does a house appraisal take? The answer to that question requires you to keep a few key things in mind.

The Home Appraisal Process: An Overview

On average, an appraisal required by a lender will take between one to two weeks to complete. This can vary, however, based on how busy the local market is. More sales equals more appraisals, which means that appraisers in the area will be busier than in a slow market.

First, an appraiser will come out and visually inspect the property. They will examine things like the interior condition of the home, the exterior integrity of the home, and more. They will go through every room and will likely take pictures. This part of the process can take as little as a half-hour or up to a few hours, depending on the size and complexity of the home.

Then, they will return to their office and go through comparable sales in the area and look at homes with similar features. Depending on how long this takes and the schedule of the appraiser, they will then put together what is called an “appraisal report.” This is part of the process that takes the longest and can again take two weeks or more, depending on the circumstances.

If you’d like to find out more information about the home appraisal process, or if you’d just like to talk about your real estate needs with someone in a bit more detail, please don’t delay – contact us today.

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