How long after you got the appraisal did you get the commitment?

I am waiting for a commitment from my buyers who applied with Wells Fargo. The appraisal was on Friday. When do you think they will get it?

Re: How long after you got the appraisal did you get the commitment?

Our buyer also went w/ Wells Fargo and got the committment fairly quickly after the appraisal was completed. I want to say within a week, but not 100%, but it was fairly quick. That was the last thing they needed.

Re: How long after you got the appraisal did you get the commitment?

It depends on the bank and the situation. Sometimes banks will issue a commitment prior to the appraisal (pending the appraisal), but most will do the appraisal first.

Then it depends on how fast the appraiser gets the report in to the lender, how quick the underwriter is at reviewing everything, whether there is anything outstanding needed from the buyers, etc.

On average, I would say the commitment should be forthcoming in the next 1-2 weeks if the application is otherwise complete.

But keep in mind that the commitment may be conditioned on certain things and it can still take awhile to get the "clear to close."

Hope everything goes well!