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7 FAQs About the VA Appraisal Timeline for Buyers

Buying a home takes some time. If you are using a VA loan to purchase your home, you might be curious about how long the VA appraisal will take and whether it’ll delay your home buying journey. Here’s what you need to know about it.
Buying a home takes some time. If you are using a VA loan to purchase your home, you might be curious about how long the VA appraisal will take and whether it’ll delay your home buying journey. Here’s what you need to know about it.

Securing financing for a home loan is one of the first steps of the home buying process. The government provides home loans to current service members and veterans and their spouses, these loans are called Veterans Affairs Home Loans or VA loans. The process of getting a VA home loan approved through requires the home to fulfill certain requirements.

That’s where the VA appraisal process comes in.

During the process, your dream home is evaluated to see whether it is eligible for a VA loan. While the appraisal is a necessary feature of a VA home loan, it can be a waiting game for home buyers who don’t know what to expect of the process.

An experienced real estate agent can help you determine the timeline of a VA appraisal and find a home that matches the requirements of the loan. A top agent can help to speed up the sale and give you an accurate timeline of what to expect at different times in the sale process.

Connect with a top agent in your area.

How many days does a VA appraiser have to complete the appraisal?

This process is normally completed within a time frame of 10 days, however, the location of the property, as well as other factors, can have an impact on this.

As a mandatory part of the VA loan process, the VA appraisal fulfills two purposes. The VA appraiser must first establish the actual value of the property and ascertain whether it meets the VA’s Minimum Property Requirements or MPRs.

How long does it take to hear back after an appraisal?

The results of an appraisal vary, however, the time to hear back typically doesn’t exceed 10 days. You may hear back in under a week, or it may take up to ten days to get the results of your appraisal. The appraiser may have to compare properties and check certain information on your property.

The buyer is automatically provided with the appraisal report, but this isn’t true for the seller. If the seller would like to view the report, they can request one, which must be provided to them in 30 days.

What will a VA appraiser look for?

A VA appraiser will examine the property’s interior and exterior to determine its overall condition. They will also assess the property to decide if it meets the MPRs. Some things that they will look out for include:

  • An approved amount of living space
  • Up-to-date plumbing, electrical, and HVAC systems
  • Any health and safety hazards
  • Damage to the property
  • Lead-based paint

The VA appraiser will not be conducting an all-out inspection of the home, but they will check that these requirements are fulfilled.

What happens if VA appraisal is low?

If your VA appraisal is low, you still may have some options. A popular solution is to try to obtain a Reconsideration of Value (ROV). During an ROV, the VA will reassess the property and see how much the true worth is.

A VA appraisal coming in low can bring some problems for buyers. They may now have to scramble to make up the difference that the VA will not finance. If this is impossible, the buyer may try to persuade the seller to lower the price to the value of the appraisal.

What happens after the appraisal is ordered?

After the appraisal is ordered, an appraiser is sent out to the property to conduct the appraisal.

They will inspect the property, but they complete other steps that may go unnoticed. It’s not uncommon for appraisers to do some digging on the real estate market of the area before visiting the property.

They look into how other homes in the area are faring in the market, and how the house in question compares. This will help them adjust their appraisal accordingly.

What happens after the appraisal process?

After the appraisal is completed, the appraisal is submitted to the VA. It will be then be reviewed to determine the value of the property and that it meets all the guidelines set by the VA. Once this is completed, the final appraised value of the home, or Notice of Value (NOV), is then issued.

It is expected that this NOV is issued within a time frame of five days. If more information is needed, more time will be required to issue this information.

Who pays for a VA appraisal?

Generally, the buyer will foot the bill for the appraisal by the VA. If any faults are found with the home that needs repairing, the buyer will also pay for any home inspections that may follow to ensure that these areas were indeed fixed. However, it is important to note that if the seller requests another appraisal, the buyer is not required to pay.

How Clever Can Help

Veterans, service members, and their spouses that qualify for VA loans should work with an experienced real estate agent to ensure that they are getting the most out of their loan to buy their dream home. A real estate agent will work to provide answers to any questions that home buyers may have.

Buyers who work with Clever Partner Agents can look forward to savings as Partner Agents offer a Home Buyer Rebate of $1,000 or 1% of your home’s value if its sale price is $500,000 or more, in eligible states.

If you are interested in working with a Clever Partner Agent, fill out our online form to get connected with one today.

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Reuven Shechter

Reuven Shechter is the Outreach Coordinator at Clever Real Estate, the free online service that connects you with top real estate agents to help save on commission. He spreads the word about Clever, disseminating studies to journalists and developing relationships with media outlets. Reuven is passionate about investing in real estate and creating lasting success for families. His writing has been featured in Max Real Estate Exposure, Leverage Marketing, and more.

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