You have an appraisal coming up and you would like to know what to expect. Who schedules it, what happens during the visit, and how long before you actually get the report? Here is the whole process laid out in order.
Key Takeaways
- The appraisal process runs through five stages: order, schedule, inspect, analyze, and report.
- You do not usually order your own purchase or refinance appraisal. The lender does, to keep the appraiser independent.
- The on-site inspection takes about 30 to 60 minutes. Most of the work happens afterward at the desk.
- The finished report is typically ready within three to seven business days.
- Knowing the steps helps you prepare, avoid delays, and understand what the final number is based on.
The home appraisal process has five main stages. An appraisal is ordered, the inspection is scheduled, the appraiser inspects and measures the property, comparable sales are analyzed, and a certified report is delivered. For many conventional residential appraisals, the process is completed within about one week, although timelines vary depending on appraiser availability, property complexity, lender requirements, and local market conditions. Here is what each stage involves.
Step 1: Who orders the appraisal?
For a mortgage or refinance, your lender orders the appraisal, not you.
This surprises people, but there is a good reason. To keep the valuation objective, lenders order appraisals through an independent channel so the appraiser is not chosen by, or paid directly by, the person who benefits from a high valuation. For non-lending needs, like a divorce, an estate, or a pre-listing valuation, you can hire an appraiser directly. In those cases, you engage the firm yourself and explain what the appraisal is for.
Step 2: scheduling the inspection
Once the order comes in, the appraiser contacts whoever has access to the property to set a time.
For an occupied home, that is usually you. For a vacant or listed property, it may be the agent. This step moves quickly in a normal market and can stretch out when appraisers are in heavy demand. If your closing has a tight timeline, flag it now rather than later.
Step 3: the on-site inspection
The appraiser visits the property, measures it, assesses its condition, and documents its features. This takes roughly 30 to 60 minutes.
During the visit, the appraiser walks the interior and exterior, measures the living area, photographs rooms and systems, and notes condition, quality, upgrades, and anything unusual. This is not a home inspection. The appraiser is judging value factors, not testing whether the furnace will last another winter. If you want to know how the two differ, see our post on appraisal vs home inspection.
A little preparation helps here. Our home appraisal checklist covers what to have ready.
Step 4: analyzing the data
After the visit, the appraiser researches comparable sales and analyzes them to reach a supported value. This is the part you do not see.
The appraiser pulls recent sales of similar properties, then adjusts for differences in size, condition, location, and features so the comparison is apples to apples. Choosing good comparables is the heart of the job, and it is more involved than it looks. We explain the standards for it in what makes a good comp. The appraiser may use more than one valuation approach, which we cover in appraisal methods explained.
Step 5: the final report
The appraiser writes a certified report with a supported opinion of value, then delivers it. This usually lands within three to seven business days of the inspection.
The report documents the property, the comparable sales, the adjustments, and the reasoning, ending with the certified value conclusion. For a lender appraisal, the report goes to the lender, and you typically receive a copy. Complexity, rural locations, and thin comparable data can push the timeline toward the longer end.
Have an appraisal coming up?
If you need a certified appraisal in the Portland metro, we can schedule the inspection and walk you through what to expect. Visit our home appraisal page to get started.
Not sure what an appraisal will cost? Our free appraisal cost calculator gives you a quick estimate.
Frequently Asked Questions
How long does a home appraisal take?
The inspection typically takes 30 to 60 minutes. The completed report is usually delivered within three to seven business days, depending on complexity and market data availability.
Do I order my own appraisal for a mortgage?
No. For a purchase or refinance, the lender orders the appraisal through an independent channel to keep the appraiser objective. You can hire an appraiser directly for non-lending needs like divorce, probate, or pre-listing.
Can I be present during the appraisal inspection?
Yes, for an occupied home you usually are. You are not required to follow the appraiser through the home, but you can point out upgrades or repairs that might not be obvious.
Sources:
The Appraisal Foundation, Uniform Standards of Professional Appraisal Practice (USPAP), the national standard governing appraisal reports: https://www.appraisalfoundation.org/imis/TAF/Standards/AppraisalStandards/UniformStandardsofProfessionalAppraisalPractice/TAF/USPAP.aspx