Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Hello.
Had an appraisal done and everything went well except one item to be fixed that was noted by the appraiser. It is an FHA loan. The item has been fixed. The re-inspection has already happened but the lender hasn't gotten the report going on the second day. I am getting nervous. Why do appraisals take so long? it took almost 30 days for the initial appraisal and it took over 10 days to get the re-inspection. now, we know that the appraiser was there a couple of days ago, yet the report is still not received (this is for the re-inspection).
I am getting nervous.
Can an appraiser flag something else when he goes to do the final check that the item flagged was done?? Why would it take so long just to look and report on one fixed item. It's not a utility, it was a railing.
thanks for the help.
Not sure where you're located but in this neck of the woods, getting appraisers to do ANYTHING in a timely fashion is a bad bet. They are in such demand and have so much work that they are turning down business and/or charging significantly increased rates (think 2x), so it's not at all surprising that it might take them a bit longer to do even what we'd consider relatively 'simple' tasks.
Not sure where you're located but in this neck of the woods, getting appraisers to do ANYTHING in a timely fashion is a bad bet. They are in such demand and have so much work that they are turning down business and/or charging significantly increased rates (think 2x), so it's not at all surprising that it might take them a bit longer to do even what we'd consider relatively 'simple' tasks.
thank you. do you have any opinions on the "flagging a new item" when an appraiser is only supposed to go check to see if something was done? .. have you ever seen that happen?
thank you. do you have any opinions on the "flagging a new item" when an appraiser is only supposed to go check to see if something was done? .. have you ever seen that happen?
thank you. do you have any opinions on the "flagging a new item" when an appraiser is only supposed to go check to see if something was done? .. have you ever seen that happen?
I've never seen this happen. They are going there to specifically inspect the items that needed attention from the first inspection. I wouldn't expect an appraiser to get a written report back to the lender in 2 days, even a limited re-inspection. They just don't usually move that quickly.
Your lender knows exactly when the report is due. The due date is always agreed upon at the time of the assignment acceptance (both appraisal and final inspection).
Yes, the appraiser can and should note an additional issue if it is found at the time of the reinspection. Most appraisers note in the original appraisal report that "a reinspection of the property may result in additional repair requirements".
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
