If you’re buying, selling, or refinancing a home, a professional appraisal will likely be part of the process. Appraisals are essential in determining a property’s fair market value, ensuring buyers don’t overpay and lenders make informed lending decisions. One of the most common questions about appraisals is, “How long does the process take?” Understanding the timing can help buyers, sellers, and homeowners plan effectively.

Let’s break down the different stages of the appraisal process and how long each one typically takes.

1. Scheduling the Appraisal: 1 to 7 Days

Once an appraisal is ordered by a lender, the appraiser will work with the homeowner or listing agent to schedule the visit. In some cases, an appraiser may be available within a day or two, but in busy real estate markets, it can take up to a week to secure an appointment. Factors like the season, market demand, and local availability all affect scheduling.

• Tip: Sellers can speed up this stage by being flexible with scheduling and ensuring the appraiser has easy access to the property.

2. The On-Site Appraisal Visit: 15 Minutes to 3 Hours

During the on-site visit, the appraiser inspects the property and its features. They evaluate the home’s condition, measure its size, take photos, and assess any improvements. Most appraisals take around 30 minutes to an hour for average-sized homes. However, larger or more complex properties can take up to three hours or more.

• Tip: Ensure the home is clean, clutter-free, and accessible, as this helps the appraiser complete their work efficiently.

3. Post-Inspection Research and Analysis: 1 to 5 Days

After the on-site visit, the appraiser needs time to analyze the property’s value in relation to the local real estate market. They’ll review recent sales of comparable homes, consider market trends, and calculate the value based on factors like location, size, condition, and amenities. This phase is essential, as appraisers must follow rigorous standards to ensure their valuations are fair and unbiased. Research and analysis can take one to five days, depending on the complexity of the property and the availability of comparable sales data.

• Tip: Complex or unique properties may take longer to evaluate, so if your home has unusual features, prepare for additional processing time.

4. Report Preparation and Submission: 1 to 3 Days

Once the appraiser has completed their research and calculations, they’ll prepare an official report. This document includes their findings, methodology, and the final appraised value. Appraisers typically submit this report to the lender, who then shares it with the buyer or seller. This phase generally takes one to three days, depending on the appraiser’s workload and any additional steps required by the lender.

• Tip: Ask your lender if they have an online portal or automated system to check for updates, as this can make it easier to track report completion.

5. Receiving the Final Appraisal Report: 5 to 10 Business Days

From start to finish, the entire appraisal process can take anywhere from 5 to 10 business days. In peak real estate seasons, however, it may extend up to two weeks. For homeowners refinancing, buyers, or sellers who are working on tight timelines, understanding this range is crucial for effective planning. Since the appraisal report is a key document in the loan approval or sale process, a delay could impact your closing date.

• Tip: Keep in regular contact with your lender and agent to ensure any unexpected delays are addressed quickly.

How to Expedite the Appraisal Process

If time is of the essence, here are a few strategies to help speed things up:

Stay Informed: Regularly check in with your lender to monitor the status of the appraisal and address any issues that may arise.

Prepare Your Home: Tidy up, make all areas accessible, and ensure any upgrades or repairs are easy for the appraiser to see.

Provide Information on Improvements: Give the appraiser a list of recent improvements, along with receipts if available, so they can factor these into the valuation more quickly.

Work with an Experienced Real Estate Agent: A good agent can coordinate with the appraiser, answer questions, and provide helpful information like comparable listings to support the process.

Final Thoughts

Appraisals play a critical role in the real estate process, providing an impartial valuation to support financing or guide sales negotiations. Although the process typically takes 5 to 10 business days, preparing your home and working closely with professionals can help things go smoothly. By understanding each stage of the appraisal timeline, you’ll be ready to navigate the process confidently and keep your transaction on track.