Profile picture for mserra119

how long does abuyer have to get apprsial done ? is it before the p&s agreement is sign?

  • May 06 2014 - Town of Bridgewater
  • 0
    0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.

Answers (5)

Profile picture for shapiroamg
As a Mortgage Broker, we do not order the appraisal until after the home inspection and around the time the P&S is floating between the buyers and sellers for signatures.  Most appraisers want the signed P&S to review when an appraisal order is made by a lender/broker. They need it to review the parties, price and if there are any special considerations (seller paid closing costs, furniture, ect). 

As a seller you should expect the appraiser through within a few days of signing the P&S. If it goes beyond that, have your Realtor check into the status.
  • May 08 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

The appraisal is ordered by the lender not the buyer.   The buyer has so much time to apply for a loan after the purchase and Sale agreement is signed, usually 5 to 7 days.   At the time of application the buyer will pay the lender up front for the appraisal fee
  • May 06 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Typically you have the lender order the appraisal after P&S is signed and home inspections have been completed. Once you have the home inspection completed and feel comfortable moving forward with the purchase of the home then it makes sense to have the appraisal ordered because you do not want to incur the cost of the appraisal until you know for sure you are moving forward.
  • May 06 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for DebVance
It's usually done before buyer gets loan commitment. So usually once inspections are set the appraisal is scheduled.
  • May 06 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.

Profile picture for jkazakoff
An appraiser might start working on an appraisal prior to the P&S but he can't turn it in until after he's received a copy of the P&S.
  • May 06 2014
  • 0Yes

  • Report a Problem

    Please enter a valid email address.

    Content flagged

    We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

    We're sorry. This service is temporarily unavailable. Please come back later and try again.