Appraisal question

bbb925 · ‎08-11-2015

I'm selling my home and my buyers are going the VA route. The VA appraisal was ordered on Wednesday, July 22nd. The appraiser did the appraisal on Thursday, August 6th. My relocation company will aquire my home once they have the appraisal, then I receive my equity and I'm no longer tied to the home at that point. They then sell the home to the buyer and they are set to close August 28th. How long does it usually take for the sellers realtor to receive the VA appraisal after it was done?

Thanks for your help

ezdriver · ‎08-11-2015

I've seen appraisal turn around time from 3 days to 3 weeks. It depends on the appraiser.

bbb925 · ‎08-11-2015

I didn't realize they could take that long. I had several offers on my home and I wanted to help the veteran and payback my gratitude for his service instead of accepting one of the other offers. It's sad that the VA gets to drag their feet on everything. This is the reason people do tend to sway away from selling to a VA loan buyer. I have to jump through hoops on everything and mind you my home is only 14 months old. He still has almost 9 years on the warranty plus I paid for all his closing, warranty, and title policy/ insurance, plus gave him all appliances and window coverings. I've done everything to give him a good start and the VA is sooooo slow for no reason but their own issues. I sold for $15k less to get it sold quickly and it has been anything but. That will suck if it doesn't come in for 3 weeks

Anonymous · ‎08-11-2015

The turnaround for most appraisals are within a week. The 2 times I had to get an appraisal the appraisers completed the work same day or next day.

DallasLoanGuy · ‎08-11-2015

depends on the area too

but the appraisal mgt co that ordered it should have some kind of commitment from the appraiser.

Retired Lender

bbb925 · ‎08-11-2015

It's in Texas. We were told by the buyer lender the VA had 10 days to get the appraisal done. The VA appraiser came out on the 11th day. Which was last Thursday, August 6th. We're just waiting for him to submit it to the lender I guess and then my realtor will get it???

StartingOver10 · ‎08-11-2015

@bbb925 wrote:
It's in a Texas. We were told by the buyer lender the VA had 10 days to get the appraisal done. The VA appraiser came out on the 11th day. Which was last Thursday, August 6th. We're just waiting for him to submit it to the lender I guess and then my realtor will get it???

Honestly you won't see the appraisal at all - neither will your Realtor (Seller's Realtor) unless there is an appraisal issue (like if the value is short). So in this case when the appraisal is delivered back to the lender (not the buyer), the lender will notify the buyer if the appraisal comes in value or is short.

Anonymous · ‎08-11-2015

@StartingOver10 wrote:
@bbb925 wrote:
It's in a Texas. We were told by the buyer lender the VA had 10 days to get the appraisal done. The VA appraiser came out on the 11th day. Which was last Thursday, August 6th. We're just waiting for him to submit it to the lender I guess and then my realtor will get it???
Honestly you won't see the appraisal at all - neither will your Realtor (Seller's Realtor) unless there is an appraisal issue (like if the value is short). So in this case when the appraisal is delivered back to the lender (not the buyer), the lender will notify the buyer if the appraisal comes in value or is short.

I thought it was mandatory that Lenders send a copy of the appraisal to the buyer. I received mine via email and mail.

bbb925 · ‎08-11-2015

How do we know if it came back ok if no one is accountable to notifying sellers or sellers realtor that all is good? I don't mind not getting a copy but my relocation company will need to know it's all good to buy us out. How do they get notified if they don't have to tell the seller?

Anonymous · ‎08-11-2015

@bbb925 wrote:
How do we know if it came back ok if no one is accountable to notifying sellers or sellers realtor that all is good? I don't mind not getting a copy but my relocation company will need to know it's all good to buy us out. How do they get notified if they don't have to tell the seller?

Ask your Lender what the property appraised at. They are suppose to send you a copy via mail, too.