Look, I'm gonna be real with you. I had a borrower call me yesterday morning around 7:45—I hadn't even finished my first coffee yet—absolutely panicking because her appraisal was taking "forever." When I asked how long it had actually been, she said five days. Five days.
Here's the thing about home appraisals in 2025: they're simultaneously one of the most critical steps in your mortgage journey and one of the most misunderstood parts of the process. The waiting game drives people crazy, but knowing what actually happens behind the scenes makes the timeline way less stressful.
So let me walk you through exactly what's happening during those days between when your lender orders the appraisal and when you finally see that report. I'll also explain why some appraisals move faster than others and what changes in 2025 might affect your specific situation.
A home appraisal is a professional opinion of your property's market value, prepared by a licensed appraiser who has zero stake in whether your deal closes. They're not working for you, not working for the seller, and they don't even work directly for your lender. They go through a third-party appraisal management company (AMC) to keep everything completely unbiased.
Unlike a home inspection where someone's crawling through your attic hunting for termites and testing every single outlet, an appraiser focuses purely on value. Their core question: "What is this house actually worth in today's market?"
The answer matters tremendously because your mortgage lender is using the home as collateral for potentially hundreds of thousands of dollars. They want absolute certainty the loan amount doesn't exceed the property's real value. Lenders use loan-to-value ratios to determine exactly how much they'll lend based on the appraised value versus the purchase price.
Consider this scenario: you're paying $450,000 for a home, but it only appraises for $420,000. That $30,000 gap becomes everyone's problem real fast. Your lender will only finance based on the lower appraised value, meaning you'll need to either renegotiate the price, bring extra cash to closing, or walk away from the deal entirely.
For buyers, the appraisal provides confirmation you're not overpaying. For sellers, it validates the listing price strategy. And for anyone refinancing? It determines whether you have enough equity to qualify for the loan terms you want or eliminate private mortgage insurance entirely.
Your mortgage lender orders the appraisal right after your purchase offer gets accepted or when you submit your refinance application. This typically happens within 48 hours of contract acceptance, according to Banks Valuation's 2025 industry analysis.
The lender doesn't send an appraiser directly. Instead, they work through an AMC, which assigns a licensed appraiser from their network. This separation ensures independence and prevents conflicts of interest.
Here's where 2025 gets complicated. The appraisal industry faces a workforce crisis. The number of available home appraisers drops approximately 3% annually, according to Banks Valuation data. The median appraiser is 60 years old, and 80% are over age 50, based on National Association of REALTORS® demographics.
Government-backed loans like FHA, VA, and USDA take slightly longer to schedule because they require appraisers with specific certifications. Not every appraiser can handle these loans, which shrinks the available pool considerably.
Once the AMC assigns your appraiser, they'll contact the listing agent for purchases or you directly for refinances to schedule the property visit. This scheduling window typically spans 2 to 7 days, though busy markets push toward the longer end.
The appraiser needs access to every part of your home. Every room, the attic, basement, crawl spaces, garage, storage sheds—everything. Make sure these areas are accessible. I once had a closing delayed three full days because nobody could locate the key to a detached storage shed, and the appraiser couldn't complete their work without seeing it.
The actual property visit moves quickest. For a standard single-family home, expect 30 minutes to 2 hours. Larger properties, homes with unique features, or properties in poor condition take longer, sometimes stretching to 3 hours.
During this visit, the appraiser measures everything—square footage for every room, outdoor structures, and the lot itself. Professional appraisers use laser measuring tools now, but they're still walking through every single space documenting dimensions.
They photograph extensively too. Each room gets photographed, the exterior from multiple angles, street views, and any notable features or visible defects. These photos become part of your permanent appraisal report.
The appraiser evaluates overall condition, looking at the roof, foundation, HVAC system, plumbing, electrical, windows, doors, and general maintenance level. They won't test systems like an inspector would, but they're noting what they can see and whether anything appears obviously broken or outdated.
Recent renovations matter. High-end appliances, custom finishes, energy-efficient improvements—the appraiser documents all of it because these features directly impact value calculations.
Location gets scrutinized too. The appraiser considers the surrounding area, nearby amenities, school districts, and overall neighborhood appeal. A great house in a declining neighborhood won't appraise as high as the same house in a thriving community.
One thing surprises buyers: you can't attend the appraisal if you're purchasing the home. Only the current homeowner or their representative can be present during the visit. For refinances though, you absolutely should be there to answer questions and point out improvements the appraiser might otherwise miss.
This stage takes the longest and involves the most complex work. After visiting your property, the appraiser researches comparable sales, commonly called "comps," in your area.
They're hunting for homes similar to yours that sold recently, typically within the past 90 days. The appraiser looks for properties with similar square footage, bedroom and bathroom counts, lot size, age, condition, and location. Then they make dollar adjustments for differences between your home and each comp.
If your home has a pool and the comp doesn't, the appraiser adds value. If the comp has a finished basement and yours doesn't, they subtract value. These careful adjustments help determine your property's fair market value.
Important 2025 update: Starting February 2025, appraisers must include more extensive market analysis and time adjustments covering an entire year of market data, according to Banks Valuation. This new Fannie Mae and Freddie Mac requirement aims to provide more accurate valuations by tracking market changes over longer periods, but it definitely adds to both workload and timeline.
The appraiser compiles everything into a Uniform Residential Appraisal Report, typically running about 10 pages. This report includes all photos, measurements, comparables analysis, market conditions assessment, and the final opinion of value.
Completing this report typically requires 1 to 3 weeks, depending on several factors. The appraiser's current workload matters tremendously. Busy appraisers might have weeks of backlog. During hot markets, some appraisers book out three weeks in advance.
Market complexity affects timeline too. Finding accurate comps in rural areas or for unique properties takes significantly longer. If your home is a custom build with unusual features, the appraiser needs substantially more research time to identify truly comparable properties and make accurate adjustments.
Property complexity plays a role as well. A standard three-bedroom ranch appraises faster than a 5,000-square-foot custom home with a pool, separate guest house, and extensive professional landscaping.
Once complete, the appraisal goes to your mortgage lender first for review. They check it for completeness and accuracy, which takes another 1 to 3 days. The Equal Credit Opportunity Act requires your lender to provide you with a copy of the completed appraisal promptly after their review.
Not all appraisals require identical work levels, which significantly impacts how long the process takes.
Timeline: 6 to 20 days total
Cost: $300 to $500 for single-family homes
This standard appraisal is what most buyers encounter. The appraiser conducts complete interior and exterior inspection, researches comps thoroughly, and prepares a comprehensive report. It's the most thorough option and meets requirements for most conventional, FHA, VA, and USDA loans.
Timeline: 3 to 7 days
Cost: $75 to $200
The appraiser never visits your property, instead using public records, MLS data, tax assessments, and online information to determine value. Desktop appraisals became common during COVID-19 and remain an option for certain refinances and lower-risk transactions.
The limitation? Many lenders won't accept desktop appraisals for purchases, especially with down payments under 20%. They're typically reserved for refinances where the lender already has an established relationship with the borrower.
Timeline: 4 to 10 days
Cost: $100 to $150
The appraiser examines only the property exterior, supplementing this with public records and comp research. FHA and VA allow drive-by appraisals for certain refinances but rarely for purchase transactions.
Timeline: 5 to 12 days
Cost: $150 to $300
A relatively newer approach where a third party like a home inspector or real estate agent collects photos and measurements, then sends everything to the appraiser for analysis. The appraiser never visits personally but receives more detailed information than a desktop appraisal provides.
Let me be straight about the elephant in the room. The appraisal industry has a serious demographic problem affecting timelines nationwide.
According to National Association of REALTORS® data, 80% of appraisers are over age 50, with a median age of 60. Only 9% of appraisers are in their 20s and 30s, and just 13% are in their 40s. The profession faces multiple challenges attracting new talent.
High barriers to entry deter many potential candidates. Becoming a certified appraiser requires extensive coursework, thousands of supervised experience hours, and passing rigorous exams. The time commitment and costs discourage people from entering the field.
The mentor shortage compounds the problem. Aspiring appraisers must apprentice under licensed professionals, but a 2017 NAR survey found only 16% of appraisers are willing to train newcomers. Lack of compensation for training time is the number one reason cited.
Market volatility creates additional challenges. When refinancing slows during high-rate periods, appraisal demand drops sharply, making it financially difficult for new appraisers to build sustainable practices.
The Appraisal Institute's analysis suggests the number of licensed and certified appraisers has declined nearly 3% annually since 2006, with this trend expected to continue or accelerate over the next decade.
What this means for you: in markets with severe appraiser shortages, your timeline could extend significantly. Rural areas and smaller metros face the most acute shortages. Some borrowers in these areas report waiting 3 to 4 weeks just to schedule the initial property visit.
Urban areas typically have more appraisers available, but they also face higher demand. Hot real estate markets like Austin, Nashville, or Boise experience scheduling delays during peak home buying seasons, particularly spring and summer months.
Rural properties face the opposite challenge. Plenty of availability exists, but few appraisers want to drive significant distances for single assignments. If your property sits more than 30 minutes from the nearest town, expect higher fees and longer timelines. An appraiser might group your property with others in the area to make the trip economically worthwhile, which means waiting until they accumulate multiple assignments.
Standard three-bedroom, two-bathroom homes in established neighborhoods appraise quickest. The more unique your property, the longer everything takes.
Custom or luxury homes require extensive comp research, sometimes pulling data from much wider geographic areas. Multi-family properties need specialized appraisers with certification to handle two-to-four unit buildings and more complex analysis methods.
Mixed-use properties combining residential and commercial space require appraisers certified to handle commercial components. Historic homes need appraisers familiar with older construction methods and period-specific materials.
Properties with significant acreage require additional time to measure and evaluate land value separately from building improvements. Homes with unique amenities like commercial-grade kitchens, indoor pools, separate guest houses, or elaborate landscaping need extra research to determine how much value these features actually contribute.
I had a client last year buying a hillside home that was partially built into the slope with a rooftop garden and residential elevator. Finding an appraiser willing to tackle that property took two full weeks, and the report took nearly three more. The home was absolutely gorgeous but so unusual that finding truly comparable sales proved nearly impossible.
Appraisers typically use sales from the past 90 days within a half-mile to mile radius of your property. When comparable sales are limited, they must expand the search area geographically or go back further in time, then make careful adjustments for market changes that occurred between the comp sale dates and your current transaction.
Rural areas, newly developed neighborhoods, and locations with low sales volume all face this challenge. Unique properties struggle too. Imagine trying to appraise a historic Victorian in a neighborhood filled with 1970s ranch homes—finding truly comparable sales becomes extremely difficult.
FHA, VA, and USDA appraisals follow stricter guidelines and require specifically certified appraisers. The appraiser must not only evaluate the home's value but also ensure it meets minimum property standards for the specific loan program.
VA appraisals, for example, require working heat throughout, functioning plumbing and electrical systems, adequate roofing, safe means of egress, and freedom from health and safety hazards. When deficiencies are found, they must be corrected before closing can occur.
These additional requirements mean fewer qualified appraisers in the AMC's network can handle your assignment, more thorough inspections that take longer to complete, additional documentation that extends report preparation time, and potential need for re-inspections if repairs are required.
According to mortgage industry data, VA appraisals cost $525 to $1,300 depending on location, reflecting this additional complexity.
Knowing what goes into the report helps explain why preparation takes substantial time. The standard Uniform Residential Appraisal Report includes detailed property description covering size, age, construction quality, room count, and special features.
Extensive photographs document the exterior from front, back, sides, and street view, plus interior shots of each room. Site details capture lot size, landscaping quality, utility availability, and zoning classification.
Neighborhood analysis describes the area characteristics, typical property values, market demand levels, and average marketing time for similar homes. Comparable sales data presents three to six similar properties used for comparison purposes.
Adjustment grids show exactly how the appraiser arrived at the final value opinion by comparing your home to each comp and making dollar adjustments for differences. Market conditions analysis describes current trends affecting property values in your specific area.
The final opinion of value includes the appraiser's signature and professional certification. Starting in 2025, reports also include enhanced market analysis covering a full year of market data and time adjustments, as required by new Fannie Mae and Freddie Mac guidelines.
Appraisal costs vary significantly based on property type, location, and loan program requirements.
Single-family homes typically cost $300 to $500, with a national average around $358 according to HomeAdvisor. Multi-family properties run $600 to $1,500 for duplexes, triplexes, and fourplexes. Condos cost $400 to $750, often easier to appraise due to abundant comparable sales in the same building or complex.
Rural properties range from $450 to $900, depending on distance and complexity. FHA appraisals cost $400 to $700 due to additional property standards requirements. VA appraisals run $525 to $1,300, varying significantly by region and property type.
Vacant residential lots cost $200 to $1,000. Large acreage or farmland runs $1,000 to $4,000 or more, sometimes reaching $8,000 for extensive properties requiring detailed land analysis.
Geographic variation is substantial. According to World Population Review data, average appraisals cost around $300 in Kentucky or Georgia but nearly $600 in Washington or New Jersey.
Buyers typically pay appraisal costs as part of closing expenses. You'll usually pay the fee upfront when the lender orders the appraisal, not at final closing. If your deal falls through for any reason, you generally don't get that money back, which is frustrating but standard industry practice.
When the appraised value comes in below your purchase price, you've got several paths forward. Each has different implications for your timeline and finances.
Option 1: Negotiate with the Seller
If your contract includes an appraisal contingency (and it absolutely should), you can ask the seller to lower their price to match the appraised value. In slower markets, sellers might agree to keep the deal alive. In competitive markets with multiple backup offers, they might refuse and move to another buyer instead.
You can request a reconsideration of value if you believe the appraisal contains errors or overlooked relevant comparable sales. Your real estate agent can provide additional comps supporting a higher value. However, challenging an appraisal adds 1 to 2 weeks to your timeline, and success isn't guaranteed. The appraiser and AMC will review your evidence but may stand by the original valuation.
If you have additional savings available, you can cover the difference between the appraised value and purchase price. Here's how this works in practice:
You agreed to purchase a home for $400,000 with a 10% down payment of $40,000. Your lender approved you for a $360,000 loan based on the purchase price. But the appraisal comes back at $380,000.
Your lender will only finance 90% of the appraised value: $380,000 × 0.90 = $342,000
The shortfall calculation:
You'll need to bring your original $40,000 down payment plus an additional $18,000 to closing, totaling $58,000 cash required. Not everyone has that extra $18,000 sitting around, which is why low appraisals often kill deals.
Option 4: Walk Away from the Transaction
If you have an appraisal contingency in your contract, you can cancel without losing your earnest money deposit. This protects you from overpaying for a property that doesn't appraise at the agreed price. While disappointing, it prevents you from making a financially unsound decision.
The good news is that if the appraisal is higher than the price you paid, you have gained equity right away. If you agree to pay $350,000 and the house is worth $375,000, Before you even moved in, you made $25,000 in instant equity.
If you refinance and your appraisal comes in higher than expected, you might be able to get better loan terms, get rid of PMI requirements, or get more money in a cash-out refinance.
But here's the truth: the lender will give you a loan based on the purchase price, not the higher appraisal. Just because the appraisal came back high doesn't mean you'll get a bigger loan. The equity cushion and possible leverage in future refinance talks are the main benefits.
More PAREA training programs
The Appraisal Institute's Practical Applications of Real Estate Appraisal program is a different way to learn than traditional apprenticeship programs. Instead of looking for a mentor who is willing to supervise thousands of hours of work, people who want to become appraisers take structured courses. This solves the problem of not having enough mentors, but there are still long waitlists for PAREA classes because so many people want to take them.
More automation and technology integration
Automated valuation models use algorithms to figure out how much a property is worth by looking at public records, MLS data, and sales of similar properties. These models are getting better and better, but they aren't widely used yet for most mortgage lending. They might eventually be used instead of or in addition to traditional appraisals for lower-risk transactions.
The technology for collecting property data is also moving quickly. Some appraisers now use drones to take pictures of the outside of a building, 3D scanning tools to measure the inside, and AI-powered tools to do research and analysis on comparable properties.
Fannie Mae or Freddie Mac may give lenders appraisal waivers in some cases, like when a borrower has good credit and a lot of equity in their home. This gets rid of the need for an appraisal, which saves time and money. Waivers, on the other hand, are still limited and don't apply to most purchases.
The Uniform Appraisal Dataset 3.6 is a big change to the rules for reporting appraisals. Some lenders started using the new format in September 2025, and by November 2026, all Fannie Mae and Freddie Mac loans had to use it.
The new standards combine different types of properties into single forms, add a lot more required data points, and make it easier to report digitally. The transition period may cause short-term delays as appraisers get used to the new rules, but the goal is to make things more accurate and efficient in the long run.
As soon as your purchase contract is signed or your refinance application is approved, we order your appraisal through our network of trusted appraisal management companies. We work with experienced AMCs that work with licensed appraisers all over the country to make sure that we can meet reasonable deadlines even in tough markets.
We keep you up to date on everything that happens. You will know exactly when we ordered the appraisal, when it was scheduled with the property, and when we got the final report. If there are problems, like a low appraisal result or delays because the appraiser isn't available, we'll talk about your options right away instead of making you wait to find out what's going on.
For refinances, we can talk about whether your specific situation might qualify for an appraisal waiver. This could save you both time and money on the appraisal. Our team will help you get your home ready to show its highest value during the appraiser's visit if you need a full appraisal.
And if you're dealing with a tough appraisal situation with few comparable properties, a rural location, or unique property features, our experienced loan officers have dealt with thousands of these situations and can help you find practical solutions.
Would you like to talk about how the appraisal process works for your specific home purchase or refinance? Get in touch with AmeriSave to find out about our simple mortgage process, low rates, and knowledgeable support team that can help you every step of the way on your path to homeownership.
As soon as your purchase contract is signed or your refinance application is approved, we order your appraisal through our network of trusted appraisal management companies. We work with experienced AMCs that work with licensed appraisers all over the country to make sure that we can meet reasonable deadlines even in tough markets.
We keep you up to date on everything that happens. You will know exactly when we ordered the appraisal, when it was scheduled with the property, and when we got the final report. If there are problems, like a low appraisal result or delays because the appraiser isn't available, we'll talk about your options right away instead of making you wait to find out what's going on.
For refinances, we can talk about whether your specific situation might qualify for an appraisal waiver. This could save you both time and money on the appraisal. Our team will help you get your home ready to show its highest value during the appraiser's visit if you need a full appraisal.
And if you're dealing with a difficult appraisal situation with few comps, a rural location, or unique property features, our experienced loan officers have dealt with thousands of these situations and can help you find practical solutions.
The short answer to "how long does a home appraisal take" is that most properties will take 6 to 20 days in 2025, and the actual visit to the property will last between 30 minutes and 3 hours. Your exact timeline will depend a lot on how complicated the property is, where it is, how many appraisers are available in your area, and what kind of loan you have.
If you're buying with FHA, VA, or USDA financing, in a rural area where appraisers aren't always available, or on a property that needs special knowledge, expect longer timelines. There is still a shortage of appraisers across the country, and new reporting requirements will start to take effect in 2025. This means that you need to be patient.
But here's the most important thing: the appraisal protects everyone who is part of your transaction. It makes sure you're not paying too much for the house, that your lender isn't lending you more than the house is worth, and that the market value of the house really backs up the price you've agreed to pay. It may be annoying to have to wait when you want to close, but the extra days are worth it because they protect you.
Do you want to talk about how the appraisal process works for your specific situation when buying or refinancing a home? Contact AmeriSave to find out about our easy mortgage process, low rates, and knowledgeable support staff who are ready to help you every step of the way as you become a homeowner.
Two completely different processes that serve different purposes. An inspection evaluates the condition of the home's systems and structure, specifically looking for defects, safety issues, and needed repairs. It keeps buyers from getting expensive surprises after they buy. An appraisal finds the market value by looking at sales of similar properties and the property's overall condition. It costs between $200 and $500 and takes 2 to 4 hours. The visit for an appraisal lasts between 30 minutes and 3 hours and costs between $300 and $500.
Not for buying things. During the appraisal visit, only the current homeowner or someone they have chosen can be there. This keeps things fair and stops buyers from swaying the appraiser. But if you're refinancing your own home, you should definitely go to answer questions and point out things that the appraiser might miss.
They'll write down that these systems are there and look at how they seem to be working, but they won't test them to see if they work like an inspector would. They'll write down anything that is clearly broken, missing, or in very bad shape in the report. But they aren't running the furnace through full cycles or checking each burner on the stove.
They look into how similar upgrades changed the prices of homes that are similar to yours in your area. If local market data supports it, a $30,000 kitchen remodel might only add $15,000 to $20,000 to the appraised value. Appraisals don't always give you back the full value of your investment when you make upgrades. This is because the value of those features is based on what buyers in your area are willing to pay for them.
Sometimes, but not always. Some lenders will accept an appraisal report that is less than 120 days old if you are shopping for a loan. But a lot of lenders would rather order their own appraisal through their chosen AMC so they can be sure they're happy with the appraiser's work and methods. Find out what your potential lenders' specific policies are.
The appraiser will either look in a larger area or go back in time further than the usual 90-day window. They will make sure to account for any changes in the market that happened between the comp sale dates and your sale. For properties that are really one-of-a-kind, they might use different methods to figure out how much they are worth or get comps from other neighborhoods with homes that are similar in style and price. This extra research will take longer, but it will make sure that the value is more accurate.
Yes, they get the sales contract and know how much they agreed to pay. Appraisers are supposed to make their own decisions based on the facts, not the price of the contract. However, studies have shown that appraisals tend to be close to the purchase price. This doesn't mean there is bias; it could just mean that buyers and sellers are setting prices for homes that are fair based on the current market. But it's important to know that the appraiser knows what number you're using.
If you think the appraiser made a mistake or missed sales that were similar to yours, you can ask for a reconsideration of the value. Give the appraiser more evidence for your case, such as more comps, information about features or improvements that the appraiser missed, or corrections to mistakes in the report. Your real estate agent can help you get these papers ready. The AMC will look over your challenge and decide if the value should be changed. This process will add one to two weeks to your timeline, and it doesn't guarantee that the value will change.
No, appraisals are only needed when a mortgage lender is involved in the deal. But a lot of people who pay cash still get appraisals to make sure they're not paying too much or too little. If you want an appraisal for your own protection and you're paying cash, you'll have to order and pay for it yourself instead of going through a lender.
It depends on the laws in your state and the terms of your contract. In some states, the buyer and lender can't talk about appraisals with anyone else. The seller can ask for a copy of the report in some states. Your real estate agent can explain the rules that apply in your state and what information sellers can see.
Most lenders think that appraisals are good for 120 days after the inspection date. If your closing is delayed longer than that, you'll probably need either a new appraisal or an update to your current one. An update means that the appraiser looks at recent sales of similar properties and makes sure that their original value opinion is still correct given the current market conditions. Updates are cheaper than full new appraisals, usually between $100 and $150, and take only a few days to finish.
Fact Checked