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HOw long does it take after the lender ordered an Appraisal for an FHA mortgage to have an appraiser on site? And does the buyer to seller get contacted prior to the appraisal ?

Posted on: 12th Nov, 2010 03:27 pm
My Lender who finally after three weeks ordered the appraisal, we are due to close in seven days and he just ordered it today. Not sure on the time frame in which it take to happen.
The physical inspection of the property will take approximately fifteen minutes to several hours. After the initial inspection is over, the appraiser spends time touring through the neighborhood or area in order to search for comparable sales that have sold within the last six months to a year. When the field work is finished, the appraiser completes the report at his office. This report will take few hours to complete.
Posted on: 15th Nov, 2010 02:11 am
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