A lender orders the appraisal shortly after you express your intent to proceed with the loan, which is the point after you’ve received the Loan Estimate and told the lender you want to move forward. From that moment, plan on one to three weeks before the completed report reaches your lender’s underwriter. The exact timing depends on your loan type, local appraiser availability, and whether your lender chooses to wait for the home inspection to clear first.
Intent to Proceed Is the Legal Trigger
Federal rules draw a clear line around when a lender can start spending your money. Under Regulation Z, a lender cannot charge you any fee tied to your mortgage application, apart from a reasonable credit report fee, until two things have happened: you receive the Loan Estimate disclosing your projected costs and terms, and you tell the lender you want to move forward.1eCFR. 12 CFR 1026.19 – Certain Mortgage and Variable-Rate Transactions You can express that intent however you like. A phone call, an email, or a verbal confirmation all count, unless the lender specifies a particular method. The lender has to document the communication before it moves ahead.
That expression of intent is the earliest moment a lender can collect your appraisal fee and place the order.2Consumer Financial Protection Bureau. My Loan Officer Said That I Need to Express My Intent to Proceed In practice, most lenders on a purchase transaction wait a little longer. They hold off until the home inspection results come back. Nothing in the rules requires that delay, but it protects you from paying for a valuation on a house you might abandon after finding a cracked foundation or a failing roof. The appraisal fee is largely non-refundable once the appraiser visits, so a few extra days of patience usually pays off.
What the Lender Needs Before Placing the Order
Before submitting the request, the file needs a few essentials:
- A signed purchase agreement. For a purchase transaction, the fully executed contract sets the sale price the appraiser evaluates against market data.
- The property address and an access contact. The lender needs the exact address and the name and phone number of whoever will let the appraiser in, usually the listing agent or the homeowner.
- Payment from you. Most lenders collect the appraisal fee upfront when the order is placed, typically by credit card.
A refinance works differently. There is no purchase contract, so the lender uses the estimated value from your application together with existing property records. Because there’s no inspection contingency or seller negotiation to wait on, refinance appraisals often get ordered earlier, sometimes within days of your intent to proceed.
Typical Timeline From Order to Completed Report
Once the order is placed, the process unfolds in stages:
- Appraiser assignment and scheduling. One to five days. The order goes to an appraisal management company or an internal panel, a licensed appraiser accepts the assignment, and that appraiser contacts the access person to book a visit.
- The property visit. Usually 30 minutes to a couple of hours, depending on the size and complexity of the home. The appraiser walks the interior and exterior, photographs each room, measures square footage, notes the condition of major systems, and checks for health or safety issues.
- Research and report writing. Three to ten business days after the visit. The appraiser pulls comparable sales, analyzes market conditions, and writes the final report with an opinion of value.
All told, budget one to three weeks from order to delivery. In hot markets with few available appraisers, or during seasonal surges in spring and summer, the window can stretch longer. Rural properties also take more time because finding recent nearby comparable sales is harder. If you’re on a tight closing deadline, ask your loan officer exactly when the appraisal will be ordered. It’s the single biggest variable in the underwriting timeline that a borrower has little control over.
How Timing Shifts by Loan Type
FHA Loans
FHA appraisals have a couple of quirks that affect timing. The lender must obtain an FHA case number before ordering the appraisal, which adds a step conventional loans don’t require.3HUD. Case Number Assignment The appraiser also goes beyond market value and evaluates whether the property meets HUD’s minimum standards for safety, security, and structural soundness. That includes chipping paint in pre-1978 homes, adequate roof life, functional electrical and plumbing systems, and proper foundation drainage. If the property fails on any of those points, the seller typically has to make repairs before the loan can close, which can add days or weeks to the timeline.
VA Loans
VA appraisals are ordered through the VA’s own portal rather than through a private appraisal management company, which gives the VA more control over appraiser assignment and fees. One distinctive feature is the Tidewater Initiative. If the VA appraiser determines the property will appraise below the contract price, the appraiser must notify the lender before issuing a final value. The lender then has two working days to submit additional comparable sales or other supporting data that might change the outcome.4Veterans Benefits Administration. Procedures for Improving Communication with Fee Appraisers in Regards to the Tidewater Process If that data doesn’t shift the appraiser’s opinion, the report is finalized with a written explanation of why the additional information wasn’t persuasive.
Construction Loans
Construction loans may require multiple appraisals at different stages, one based on the plans and specifications before construction begins, and another on completion to confirm the finished home’s market value matches projections. The timing of each order tracks the milestones in the construction contract rather than a typical purchase timeline.
When an Appraisal Isn’t Ordered at All
Not every mortgage triggers a traditional appraisal with a property visit. Fannie Mae offers two alternatives that can save time and money if your loan qualifies:
- Value Acceptance, formerly called an appraisal waiver. This lets the lender skip the appraisal entirely on purchase loans with a loan-to-value ratio up to 90% for primary residences and second homes. The lender’s automated underwriting system determines eligibility.5Fannie Mae. Fannie Mae Announces Changes to Appraisal Alternatives Requirements
- Value Acceptance + Property Data. This option requires a property data collection visit rather than a full appraisal, and is available up to program LTV limits.5Fannie Mae. Fannie Mae Announces Changes to Appraisal Alternatives Requirements
Fannie Mae also permits hybrid appraisals, where a third-party inspector collects property data and the appraiser completes the valuation without visiting the home, for one-unit existing properties across purchase, limited cash-out refinance, and cash-out refinance transactions.6Fannie Mae. Hybrid Appraisals Multi-unit properties, co-ops, manufactured homes, and construction loans are excluded. For home equity lines of credit, lenders frequently skip the traditional appraisal entirely and rely on automated valuation models instead, particularly for borrowers with strong credit and substantial existing equity.
What You’re Paying For, and What You Owe If You Cancel
A standard single-family appraisal generally runs between $350 and $700, though prices above $800 aren’t unusual in high-cost metro areas or for larger, more complex properties. Multi-unit properties, rural homes requiring long drive times, and rush orders push the fee higher. Your lender will disclose the estimated appraisal cost on the Loan Estimate, so you’ll see the number before you agree to pay.
If you cancel the transaction after the appraiser has already visited the property, expect to pay the full fee. Cancellations earlier in the process cost less. The VA publishes a tiered cancellation schedule that illustrates how this works: no more than $50 if the appraiser accepted the assignment but hasn’t set an appointment, up to $175 if an appointment was made, up to half the full fee after the interior review, and the full fee if the report is already complete.7U.S. Department of Veterans Affairs. VA Appraisal Fee Schedules and Timeliness Requirements Conventional and FHA appraisals don’t follow the VA’s exact schedule, but the same principle applies: the further along the appraiser is when you cancel, the more you owe.
That cancellation exposure is why timing the order matters. Once you tell your lender to move forward and the fee is collected, the meter is running. If you’re weighing whether to give the go-ahead before the inspection results are in, ask your loan officer where in the process you’d stand financially if you had to back out.