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Member
mg85
Posts: 11
Registered: ‎07-09-2008
0

FHA Appraisal Time?

Hello,

 

We have a purchase agreement in place for a home and have been waiting since June 14 for the results of the appraisal. The 14th is when it was ordered. Does it normally take this long to complete an appraisal? Our lender keeps assuring us that it should be back soon. I called my realtor and he asked who was doing it and I told him - his response was "she's a trainwreck!" Not what I wanted to hear. Would it be wrong for us to contact the seller and ask if the appraiser had contacted them regarding access to the property? Or even the seller's agent? We are scheduled to close July 23rd, and we're getting extremely anxious.

 

Thanks for any help!

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HoldingOntoHope
Posts: 1,057
Registered: ‎09-29-2009
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Re: FHA Appraisal Time?

The push should come from either your realtor or your lender. I know it's difficult but just relax and let them do their job. The 23rd is still a long way out at this point.

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StartingOver10
Posts: 4,223
Registered: ‎03-06-2010
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Re: FHA Appraisal Time?


HoldingOntoHope wrote:

The push should come from either your realtor or your lender. I know it's difficult but just relax and let them do their job. The 23rd is still a long way out at this point.


^^^Good advice.

Member
mg85
Posts: 11
Registered: ‎07-09-2008
0

Re: FHA Appraisal Time?

I know, it's just hard to be patient ;-) We were just anxious because we want to get other arrangements made (insurance, moving company, etc.) well in advance so no surprises.

Coincidentally, our realtor called me and said he is scheduled to meet our appraiser at the property tomorrow. Apparently, she scheduled it for the 17th, less than a week before close! Either she wasn't fully aware of the closing date or she is just that busy. At any rate, it's getting done tomorrow. Now, I guess I'll try to remain patient until I hear from UW.

Thank you for the response and assurance. I guess the excitement adds to the anxiety and impatience, making one day seem like an eternity and three weeks like it's at our door :smileyhappy:
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StartingOver10
Posts: 4,223
Registered: ‎03-06-2010
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Re: FHA Appraisal Time?

[ Edited ]

lol..The Realtor doesn't schedule the appraisal! The processor schedules the appraisal. Someone at your mortgage company messed up because scheduling an appraisal one week in advance of the closing is asking for trouble (a small delay at the minimum). ....:smileysad:

 

Contact your processor or your LO. Tomorrow is the 4th of July and I would be surprised if the appraiser is going out to the property on the 4th...just saying.

Member
mg85
Posts: 11
Registered: ‎07-09-2008
0

Re: FHA Appraisal Time?

I know the realtor doesn't schedule the appraisal. He knows the appraiser and contacted her to find out when she was going to do it since closing was only three weeks away and the loan commitment date is the 10th. He said even if it is in the heart of the busiest purchasing season, it still should not take this long (the market in my area is not booming). She then agreed to meet him at the property on Wednesday (3rd) to do it instead of waiting until the day she was scheduled to do it. Sorry for any confusion :smileyhappy:

 

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tirado126
Posts: 85
Registered: ‎02-06-2013
0

Re: FHA Appraisal Time?

my fha appraisal came back 3 business days later. the appraisal was ordered by my LO and then the appraisal was done on a Friday..the appraiser sent it to a management company on tues and my lo received it from them on a Wed.

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Member
mg85
Posts: 11
Registered: ‎07-09-2008
0

Re: FHA Appraisal Time?

Just got the phone call that the house appraised at $100 more than our offer (woohoo for equity!)! Huge weight off the shoulders. Now just have to wait for the commitment letter and the CTC and we're golden. Two weeks from tomorrow is our scheduled close date. So excited, but trying to stay grounded until we find out if there are any conditions for approval :smileyhappy:


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