How long does an appraisal take?
The physical inspection of the real property being appraised can take from approximately fifteen minutes to several hours, depending upon the size nd complexity involved. After the initial inspection of the property the appraiser spends time touring through the neighborhood or area. The purpose of this tour is to search for comparable sales (other properties that are similar to the property being appraised) that have sold within the last six months or so. When the field work is finished, the appraiser completes the report at his/her office. The report can consist of a short form report (typically just under 10 pages) to a long narrative report which can sometimes exceed a hundred pages. Flood maps are reviewed at to determine if the property is in a flood zone area. Typically the lender requires a copy of the plat map and area maps to be included with the report. A short form report usually takes between three to six hours to complete. A narrative report can take weeks or sometimes eve
The physical inspection of the real property being appraised can take from approximately fifteen minutes to several hours, depending upon the size and comlexity involved. After the initial inspection of the property the appraiser spends time touring through the neighborhood or area. The purpose of this tour is to search for comparable sales (other properties that are similar to the property being appraised) that have sold within the last six months to a year or so. When the field work is finished, the appraiser completes the report at his office. The report can consist of a short form report (typically under ten pages) to a long narrative report which can sometimes exceed a hundred pages. A short form report usually takes between three to six hours to complete. A narrative report can take weeks or sometimes even months, depending upon the complexity of the assignment.
