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MayBbaby21
Baby no. 3 coming soon!
Member since 6/09 5738 total posts
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How long after signing contracts was appraisal done?
We're in contract a few weeks now on the sale of our house, but no word yet on the appraisal. Our agent contacted the buyer's agent and they just said no date has been scheduled yet. How long after you signed was appraisal done? I just hope the buyers aren't hitting snags in their mortgage commitment.
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Posted 10/14/12 11:28 AM  |
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Prudential Douglas Elliman Real Estate
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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How long after signing contracts was appraisal done?
A month. We signed contract mid-August and appraisal was done mid-September. Closing was end of October.
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| Posted 10/14/12 12:10 PM |
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MayBbaby21
Baby no. 3 coming soon!
Member since 6/09 5738 total posts
Name:
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Re: How long after signing contracts was appraisal done?
Posted by ElizaRags35
A month. We signed contract mid-August and appraisal was done mid-September. Closing was end of October.
Thanks. Hopefully we'll hear something soon then. I think we're getting close to a month.
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| Posted 10/14/12 12:21 PM |
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AKD
LIF Adult
Member since 1/12 2637 total posts
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Re: How long after signing contracts was appraisal done?
It was within a week or two after we signed contract.
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| Posted 10/14/12 2:54 PM |
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blu6385
Member since 5/08 8351 total posts
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Re: How long after signing contracts was appraisal done?
it was with in a week or so but it took over a month to get into contract cause of the buyers lawyer. We were also already approved for the morgatge pending apprasial.
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| Posted 10/14/12 6:44 PM |
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Re: How long after signing contracts was appraisal done?
I would just ask your agent to find out from the buyer's agent exactly where the buyers are with the mortgage process and when you can expect the appraisal. Or, she can just go ahead and call the buyers lender herself to find out when an appraisal will be scheduled (she should have at least a preapproval letter from when the buyer made the offer that has contact info for a loan officer or someone at the lender).
Most of the time, the appraisal is done early in the mortgage process, but I have had some cases/some lenders that wait until the mortgage commitment is issued before scheduling an appraisal. But unless there's doubt that the buyers will get a commitment, there's no reason to wait.
There is a time parameter in the contract for how long buyers have to get a mortgage commitment. Standard provision is 45 days, but I've seen 30 days, 60 days, etc. So if you are concerned about what's going on with the mortgage, you can check your contract and see how long the buyers have left to get the commitment (and/or discuss it with your attorney).
Good luck!
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| Posted 10/14/12 6:57 PM |
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photoshopbabe
wow....
Member since 5/07 2197 total posts
Name:
linda
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Re: How long after signing contracts was appraisal done?
We signed in August, the signed last week, my laywer got the contract Thursday, appraisal was done Saturday :)
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| Posted 10/14/12 8:56 PM |
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MayBbaby21
Baby no. 3 coming soon!
Member since 6/09 5738 total posts
Name:
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Re: How long after signing contracts was appraisal done?
Thanks all. Found out buyers are going with a different bank than they originally planned on because they got a better rate, so I guess that's why things are moving so slowly. But apparently everything is moving in the right direction and should happen soon.
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| Posted 10/15/12 10:36 PM |
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