How Long Does an Appraisal Take?

The process of buying or selling a home can sometimes feel like a hurry-up-and-wait situation, where both parties try to move things along quickly but still run into unavoidable delays for formalities. The appraisal process is often necessary and can lead to some delays. In this guide, we’ll explain how long an appraisal takes and how long you’ll have to wait for results so that you know what to expect.

How Long Does a Home Appraisal Take?

The actual appraisal inspection—the first portion of the FHA appraisal guidelines—normally takes about two hours, or anywhere from one to three hours, but you’ll then have to wait for the results. In most cases, you won’t need to be present for the appraisal inspection, and your agent or the agent for the other party will make themselves available to meet the appraiser and provide access.

Factors That Affect Appraisal Inspection Timeline

There are a few things that can speed up or slow down the appraisal inspection.

Home Size

In most cases, larger homes will take longer for your appraiser to inspect. More square footage means more systems, appliances, windows, doors, roofing, and building materials to inspect, so larger homes can push your inspection timeline up to around the three-hour mark.

If you don’t have a structure and just need a land appraisal done, the inspection is more likely to take under an hour.

Foundation Type

Homes with crawl spaces and basements will likely take longer to inspect than those on slab foundations, as there’s another layer of the home to walk through and check for condition. Structural damage can hurt a home’s appraised value and create major value swings, too, so your appraiser may spend a bit longer examining a basement or crawl space than they would in other parts of the home.

How Long Does It Take to Get an Appraisal Back?

While the appraisal inspection takes just a few hours to complete, you’ll then have to wait one to four weeks to get the appraisal report back.

Factors That Affect Appraisal Report Timeline

There are a few factors to consider if you want a more accurate estimate of how long it will take to get appraisal results.

Appraiser Availability

Your local appraisal company can’t begin its report until it does the inspection, and if there’s a shortage of available appraisers or you’re buying or selling during the summer, when appraisers tend to be the busiest, you’ll more likely wait two to four weeks for your report. Part of that time could just be waiting for the appraiser to complete their inspection, but it still adds to the timeline.

Your Local Market

Your local market plays an important role in appraisal report timelines, as well. Appraisers are busier in hot markets, and you may have to wait a few days to a week before your professional can get to your inspection.

Availability of Comparable Sales

Although appraisal and market values differ, appraisers use comparable sales to help establish a value for your home. Comparable sales, called comps, are homes in your area that are similar to your property that recently sold. If your home is unique in style, size, or condition, or the market in your area is particularly slow, appraisers may take more time to find useful comps or use slower methods to establish and verify your property value. While a lack of comps can mean more work for your professional, it shouldn’t affect your home appraisal cost.