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04-29-2009, 03:45 PM
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Senior Member
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Join Date: Jul 2007
320 posts, read 320,831 times
Reputation: 129
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how long does VA loan take apprasial ordered 14 days ago
How long does this take. I only have 30 days on the offer and I am down to 2 weeks and no call from the appraiser to the seller to schedule an appraisal. am I screwed???
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04-29-2009, 06:54 PM
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Senior Member
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Join Date: Jul 2007
320 posts, read 320,831 times
Reputation: 129
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anyone have an answer
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04-30-2009, 12:53 AM
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Senior Member
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Join Date: Jul 2007
305 posts, read 311,971 times
Reputation: 81
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I just had an appraisal done yesterday for VA loan. It took a total time of 10 days between the time the phone call went out from lender to appraiser. And that was only because the appraiser went out to our new home twice. The first time it was because the house was not finished (new construction). He went back when the builder called him and said it was over 90% done (they were working on the landscaping when the appraiser went back for a second time).
I don't know what a typical wait time is as this is our first home and first time using VA.
Don't sit back and wait for someone else to make the decision that it's taking too long. Get on the phone to the lender and push. I was told, however, that the appraisers are backed up due to all the refi's ... and definitely not because of all the new homes being built because there aren't that many selling right now.
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04-30-2009, 01:53 AM
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Realtor
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Join Date: Nov 2007
Location: Dallas/Fort Worth, Texas
2,277 posts, read 2,032,414 times
Reputation: 481
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14 days is a lonnng time. The processor should call VA and put a rush on it.
Average time has been 7 to 11 days from time of ordering it to time received back in hands.
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04-30-2009, 03:08 AM
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Senior Member
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Join Date: Sep 2008
Location: McKinney, Tx
527 posts, read 240,364 times
Reputation: 189
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They usually take some time, but 14 days is a bit long.
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05-22-2009, 06:52 AM
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Senior Member
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Join Date: Feb 2008
Location: South Carolina
319 posts, read 197,697 times
Reputation: 198
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our VA appraisal was ordered 2 weeks ago...per my realtor & lendor, today is the deadline to get it done. what are the repercussions if it doesn't get done in time?
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05-22-2009, 11:17 AM
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Realtor
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Join Date: Nov 2007
Location: Dallas/Fort Worth, Texas
2,277 posts, read 2,032,414 times
Reputation: 481
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Quote:
Originally Posted by thechappells
our VA appraisal was ordered 2 weeks ago...per my realtor & lendor, today is the deadline to get it done. what are the repercussions if it doesn't get done in time?
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That would vary by State. Your Realtor lender are the best are giving you that advice. It could be that you lose your earnest money and the seller can accept another contract. Is it not specified in the contract of sale?
Naima |
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05-22-2009, 11:38 AM
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Senior Member
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Join Date: Feb 2008
Location: South Carolina
319 posts, read 197,697 times
Reputation: 198
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just heard back from lender. it's being completed as i type this. whew!  |
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