Appraisal Deadline

If you have not already done so, pay your Lender for Appraisal so they can order it.

Since you're almost always paying for the Appraisal you will need to authorize your Lender to order the Appraisal.

IMPORTANT NOTE: If you're concerned about what you might find at the inspection and may be terminating your contract on inspection, you should discuss with your Lender and Real Estate Broker delaying your Appraisal so you do not have to pay for an Appraisal on a property you are not going to buy.

Mark this task complete once you've authorized your Lender to order the appraisal and provided them all the forms and payment information they need to do so.

Your Real Estate Broker should be checking in with the Lender to make sure your Lender has ordered the Appraisal.

Your Real Estate Broker should check with the Lender and/or the Seller's Real Estate Broker to make sure the Appraisal has visited the property to complete their Appraisal.

This is a proactive step in case it looks like you might not make the Appraisal Deadline and we'd need to negotiate with the Seller to see if we can extend that deadline.

Once the Appraisal is complete and has gone through your Lender's underwriting review, they should give you a copy and let you know if the property has appraised for Purchase Price or not.

Once the Appraisal is complete and has gone through your Lender's underwriting review, your Lender should communicate with your Real Estate Broker to let us know if the property appraised or not.

While some Buyers send us copies of the Appraisal, Lender typically do not automatically send a copy of your Appraisal to your Real Estate Broker.