How long should it take to get the results of a VA appraisal?

[Hollynla]

Originally Posted by TexasDillo

The appraisal is the last thing lenders seem to order as part of the mortgage origination process. It makes sense -- sort of.

Lenders don't want to charge an appraisal fee to the borrower until everything else checks out. On the other hand, there has to be an appraiser that (1) meets the USPAP requirements to accept the assignment and (2) is willing to accept the scope of work, fee, and turn time (due date) requirement of the lender.

REMEMBER -- the appraiser doesn't work for the lender -- appraisers are generally independent contractors. As such, the appraiser has NO IDEA what your projected closing date is.

And the appraiser shortage you are experiencing today has been forecast for years. Until recently, most appraisal fees hadn't been increased in almost 15 years and now the entry requirements to enter this field are just ridiculous. Unfortunately, it'll take years to repair the shortage of appraisers so these "delays" in getting your appraisals back isn't going to go away anytime soon.

I think that part I bolded/underlined is the biggest problem. In Arkansas, to become a certified residental appraiser, you must have at least a bachelors degree, and then two years experience. That's what stopped me from even thinking about pursuing it.

[thebigW]

Originally Posted by Hollynla

I think that part I bolded/underlined is the biggest problem. In Arkansas, to become a certified residental appraiser, you must have at least a bachelors degree, and then two years experience. That's what stopped me from even thinking about pursuing it.

That's true everywhere. The biggest problem is finding someone who will train you for the two years. Most lenders won't allow a trainee to inspect a property without his supervisor. So, as a supervisor, if I have to do all the work anyway, why would I pay someone that I have to do all the work and train him too?

[prospectheightsresident]

Mine took a while, but mainly because there was poor communication between the appraiser and the seller's agent about getting access to the unit. I want to say that it took about 3 weeks from the time the appraisal was ordered to wrapping everything up (again, it should've taken much shorter). My agent/loan officers gave me a much shorter time period for when appraisal had to be done from when first ordered . . . can't remember what it was though. In any event, I wasn't going to bug/rush the appraiser for obvious reasons