How Long Does a Home Appraisal Take?

How Long Does it Take to Get a Home Appraisal Back?

Homeowners often have questions about the process of a home appraisal and how long it takes to complete. As a leading expert in the field of real estate appraisal, True Footage is here to provide some clarity on the subject.

The length of time it takes to complete a home appraisal can vary depending on a number of factors. In general, a standard home appraisal will take anywhere from a few hours to a full day to complete. This can include a physical inspection of the property, as well as research into comparable sales in the area. After the initial site visit to gather important information about the property, the research, the data entry, and a deeper analysis of the details about market value can often take multiple days to complete. 

In this article, we will go over some specific factors that can impact how quickly an appraisal can be completed.

Factors that Determine Appraisal Turnaround Time

Property Size and Complexity

One of the key factors that can affect the length of a home appraisal is the size and complexity of the property. A larger, more luxurious home will typically take longer to appraise than a smaller, more basic property. Additionally, older homes or homes with unique features may require more time to evaluate. For example, a historic home that has been well-preserved or a home that has been recently remodeled will take more time to appraise than a simple home.

Availability of Comparable Sales Data

Another important factor to consider is the availability of comparable sales data in the area. In order for an appraiser to provide an accurate value for a property, they will need to research recent sales of similar homes in the surrounding neighborhood. If this data is difficult to come by, the appraisal process may take longer. However, with True Footage, we are equipped with the latest technology and tools that allow us to access a wide range of property data, making our appraisals more accurate and timely.

Appraiser Experience and Qualifications

In addition to these factors, the experience and qualifications of the appraiser also plays a role in the length of time it takes to complete a home appraisal. A professional and certified appraiser will be able to complete the process in a timely manner, as they have the knowledge and experience to identify key features of a property and analyze comparable sales data quickly.

What Goes into a Home Appraisal?

The home appraisal process itself includes a thorough inspection of the property, both inside and outside. During the inspection, the appraiser will take note of the property's condition, size, age, and any unique features. They will also take measurements of the living space and note the number of bedrooms and bathrooms. The appraiser will also assess the condition of the property's systems, such as heating, cooling, electrical, and plumbing.

After the inspection, the appraiser will research comparable sales in the area to determine the fair market value of the property. This process usually involves the appraiser looking at recent sales of similar homes in the same neighborhood. They will take into account factors such as size, age, condition, and location when making their determination.

It is important to note that home appraisals are not the same as home inspections. A home inspection is a more comprehensive examination of a property that is typically conducted for buyers before they purchase a home. The purpose of a home inspection is to identify any potential issues with the property before the purchase is final. A home appraisal, on the other hand, is focused on determining the value of the property for lending or selling purposes.

As a homeowner, you should be aware of the home appraisal process and the length of time it takes to complete. By working with a reputable and experienced home appraiser, such as True Footage, you can be sure that you will receive a comprehensive and accurate appraisal of your property in a timely manner. Contact us today to schedule a home appraisal and get an accurate estimate of your property's value.

Benefits of Working with True Footage

One of the benefits of working with True Footage is that our team is equipped with the latest technology and tools to access a wide range of property data. This allows us to provide more accurate and timely appraisals, as we have access to up-to-date information on comparable sales in the area.

Another advantage of working with True Footage is that we offer a variety of appraisal services to meet the needs of our clients. Whether you need a standard home appraisal, an appraisal for a commercial property, or a specialized appraisal for a unique property, our team has the expertise to handle it.

In addition, True Footage understands the importance of clear communication and customer service. We make sure to keep our clients informed throughout the appraisal process and are available to answer any questions they may have.

When it comes to home appraisals, time is of the essence. Whether you're looking to refinance your mortgage, sell your home, or get a home equity loan, you need accurate and timely information about your property's value. With True Footage, you can be confident that you will receive a comprehensive and accurate appraisal in a timely manner.