How Long Does a VA Appraisal Take?
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Richard Haddad Executive EditorClose
Richard Haddad Executive EditorRichard Haddad is the executive editor of HomeLight.com. He works with an experienced content team that oversees the company’s blog featuring in-depth articles about the home buying and selling process, homeownership news, home care and design tips, and related real estate trends. Previously, he served as an editor and content producer for World Company, Gannett, and Western News & Info, where he also served as news director and director of internet operations.
Most veterans are familiar with the phrase “hurry up and wait,” which likely originated in the U.S. military in the 1940s. But this is an uneasy sentiment when you’re using your VA loan to purchase a home. You have plans, and you want the process to move swiftly.
Unfortunately, the gears inside the Department of Veterans Affairs often turn slowly. A common question that buyers ask is, “How long does VA appraisal take?”
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How long does a VA appraisal take?
For VA home loans, the administration provides qualified appraisers with a set of VA appraisal timeliness guidelines, which range between 7 and 21 business days. In most cases,
“Every county has its own standard timeframe set by the VA,” explains Warren B. Boizot, owner of BLG Appraisal Group in Denver, Colorado. “The four counties that I cover for the VA all happened to be seven business days. I have colleagues and appraiser friends who handle rural areas or mountain areas for the VA, and sometimes they’re more like 10 or 15 business days.”
It’s important to note that the VA appraisal timeliness guidelines are not “deadlines.” They serve as a useful reference so buyers can estimate how long the process might take, but they are not considered an absolute mandate.
What might influence how long a VA appraisal takes?
Because the location of the home and availability of appraisers are influencing factors, the VA has established appraisal timelines for each state, though some cities also have separate guidelines. For example, the target timeline in Colorado and Utah is seven business days. In parts of Alaska and Montana, the estimate is up to 21 business days.
An appraisal’s timeliness is measured from the first business day after the appraiser receives the assignment. You can check your state’s VA appraisal timeliness guidelines and locate the nearest regional loan centers by visiting this link on the VA website.
High-demand counties
The VA identifies certain U.S. counties as “high-demand counties,” where the demand for appraisals exceeds the number of available appraisers. This situation can lead to extended appraisal times and potentially higher fees. You can download the list (15KB) of these high-demand counties from the VA website.
What does the VA appraisal process look like?
Here are the basic steps in the VA appraisal process:
- Your lender orders the home appraisal
- An approved VA appraiser accepts the request
- Appraiser contacts the seller’s agent to access the home
- Appraiser assesses the property
- Specialized inspections may be needed (roof, electric, well, etc.)
- Appraisal report sent to VA appraisal reviewer
- VA decides if the home meets its Minimum Property Requirements
Boizot says this process is generally the same as any other home appraisal, except for the final steps taken by the appraiser. “A slight difference with VA work over other work is your client is the Department of Veterans Affairs. So you are turning in your work and your completed file to the VA and not to the lender.”
What can cause a delay in your VA appraisal?
Several factors can influence how long your VA home appraisal might take:
- VA appraisal demand in the area
- Availability of qualified local appraisers
- Difficulty accessing the property
- Unexpected weather or other events
- Lack of comparable sales in the area
- Communication issues with real estate agents
“A lot of times, delays that happen after the property has been inspected are because we need to verify comparables (similar property sales called “comps”), Boizot says. “Some Realtors that we need to call and verify sales with are not exactly quick to call back appraisers with specifics about the comps that we’re using. If they don’t get back to me for 24-48 hours, that can be a big reason for a delay.”
What can a buyer do to avoid appraisal delays?
To minimize delays in the VA appraisal process, start with selecting a lender familiar with VA loans. The more experience the lender has with the VA process and requirements, the less likely you are to experience a delay.
In addition, be certain that all necessary property information is readily available and accurate, and maintain open lines of communication with all parties involved in the home-buying process.
Speed tip for sellers and owners
“In a refinance situation — and this would apply to any type of loan, not just specific to VA — if you know that the appraiser is coming to do the inspection on your home tomorrow, compile a list of any and all updates and remodeling,” Boizot suggests. “This can be anything that you’ve done to your home in the last 10 to 15 years, or at least the duration that you’ve been in your home. Even if you can recall how much you spent.”
Boizot offers this example: “If you spent $3,000 painting the two bedrooms and the upper level of the home last year (being specific), writing that down on a nice, concise list with what you’ve done and how much it costs is invaluable to the appraiser.”
“We generally ask for [home] information from the listing agent,” Boizot says. “But the buyer can also be helpful in expediting the process of getting us the information that we need in a purchase scenario.”
Is an appraisal mandatory for a VA loan?
Yes, an appraisal is mandatory for a VA loan. It serves to assess the property’s value and ensure it meets the safety, security, and structural integrity standards set by the Department of Veterans Affairs. These standards are formerly referred to as Minimum Property Requirements (MPRs).
Who pays for a VA appraisal, and when?
The buyer is typically responsible for paying for the VA appraisal at the time of service. This cost must be covered before the loan approval and closing process can proceed. In some cases, a buyer may negotiate with the seller to cover this expense.
How much does a VA appraisal cost?
The cost of a VA appraisal varies by location but typically ranges from $375 to $550 or more. The exact fee depends on the complexity of the appraisal, the size of the house, and the geographic location of the property.
How long is a VA appraisal valid?
A VA appraisal is valid for 180 days from the date of completion. This validity period is intended to cover the duration of most loan processing timelines, both for new purchase loans and refinance loans.
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Is the VA appraisal also a home inspection?
No, a VA appraisal is not the same as a home inspection. The appraisal assesses the property’s market value and checks for minimum property requirements as per VA guidelines. These include safety, structural integrity, and sanitation standards, such as functional heating, electrical, and plumbing systems; safe and easy access; and freedom from health hazards.
A home inspection, on the other hand, is a more detailed examination of the property’s overall condition and systems, which the buyer must arrange separately.
What if the home doesn’t meet the VA’s MPR?
If a home doesn’t meet the VA’s MPR, the appraiser will note the deficiencies in the appraisal report and may even recommend obvious repairs needed to meet the VA approval standards. Depending on the severity of the issues, the buyer will then have the option to request repairs from the seller, renegotiate the contract, or withdraw from the purchase.
Can I choose my own appraiser?
No, you cannot choose your own appraiser for a VA loan. The appraiser must be selected from a panel of appraisers who are pre-approved and certified by the Department of Veterans Affairs to ensure impartiality and adherence to VA standards.
Are there homes the VA doesn’t like to approve?
Buyers might find it difficult to get an approved VA loan on the following:
- Fixer-upper properties in poor condition
- Vacation homes
- Vacant lots
- Co-ops (shared-ownership properties)
- Farm or agricultural properties
- Properties with uncorrected code violations
- Homes that lack essential utilities
Building a house? It can be difficult to get approved for a VA construction loan. A process is established that includes VA-approved builders, sites, and design plans, as well as multiple required inspections. Builders must also provide a one-year warranty on the new home.
What else can delay the VA approval process?
Several factors outside the appraisal itself can delay the VA approval process, including:
- Incomplete documentation: Missing or incomplete application documents can stall the process.
- Title issues: Problems with the property’s title, such as unresolved liens or disputes, can cause delays.
- Credit and income verification: Issues arising during the verification of the buyer’s credit history and income stability.
- Legal complications: Any legal issues related to the property or the sale that need resolution.
- Seller’s readiness: Delays can occur if the seller is slow to comply with contract obligations or to make required repairs.
Find a top agent who knows the VA process
The Department of Veterans Affairs prefers that buyers work with an experienced real estate agent rather than going the DIY route. Boizot says a seasoned agent can help move the process along.
“A buyer’s agent who is more involved with the appraisal process is helping the appraiser get access to the property, making sure that they have a copy of the contract, making sure they know about any sales concessions or anything that might be going on in the transaction,” he says. “They’re making sure that the appraiser has everything they need.”
HomeLight can connect you with a top agent who specializes in the VA process and has a proven track record of helping veterans successfully purchase homes.
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