How Long After Home Inspection Is Appraisal (And Why)?

Exact Answer: Seven Days

An appraisal is a financial term that means to determine the value of a property or land. In simpler terms, it is known as property valuation or sometimes land valuation. This is generally done by real state agencies or landowners who want to buy a new property.

Home inspection means inspecting a house and see what the things that are available in the house are. It generally means to inspect the land and the locality in which the house is built, the floors in the house, the locality of the house, and the quality of the house, if it is old or new. All these factors are taken into consideration while inspecting a house.

How Long After Home Inspection Is Appraisal?

A house is considered a vital asset. A person cannot survive without a house. The weather keeps on changing from hot to cold and sometimes to rainy. It is crucial to have a home where a person can spend his life. Not only this, but a house is also important to keep the family. But in some unlikely cases, a person might wish to sell the house to someone else or a real estate owner. There can be multiple reasons to sell a house, and the exact reason can only be determined after contacting the person selling the house.

If someone wants to sell the house, then they can contact any real estate owner and inform them about the property. After this, an agent will arrive at the property from the agency to examine the home’s condition. The agent will see the first and foremost thing: what is the property’s location. Is it well,l connected with markets and different facilities or not. After that, the area of the house is also a deciding factor. Whether the house is built properly or some building work left is also noted while inspecting the house.

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EventsInformation regarding the events
Time is taken for a home inspectionTwo hours
Time is taken after inspection for an appraisalSeven days

A home inspection is generally completed in two hours, and after that, it may take anywhere within seven days to get an appraisal after the inspection.

Why Does It Take That Long After Home Inspection For Appraisal?

There are multiple reasons why one may need to sell property, especially a house. But, no one knows when the tables would get turned unexpectedly, thereby leading to an unwanted consequence of selling a house. A house is considered the most important financial asset of an individual. Hence, it is quite natural that a person may wish to earn the house’s equity or property before selling it. One can gain a huge amount of profit by selling a house. Sometimes, people tend to sell their house property before their tentative tenure. This may be the result of some unwanted problems which of life.

An appraisal generally means the value of the house. After the inspection is done, the agent gives the information to the owner, and after that, the house’s value is determined. This value is then informed to the seller, and if the seller thinks that the value is good enough, he can sell the house. It is completely your personal choice when you would sell your property. But, before selling, one should calculate net proceeds after owning the ownership of the house and only then contact a real estate agency.

It takes that long after home inspection for an appraisal because of the various factors that determine the price of a house. Also, real estate agencies review many houses, so it may take some time for your turn to come.

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Conclusion

Overall, it can be concluded that an appraisal means to determine the value of a property or land. In simpler terms, it is known as property valuation or sometimes land valuation. A home inspection generally means to inspect the land and the locality in which the house is built.

On average, an appraisal takes seven days to arrive after a home inspection. It is completely your personal choice when you would sell your property. Selling a house at an appropriate time is completely an individual’s choice. But before selling the house, they should keep in mind the losses and profits he will incur.

References

  1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC1580222/
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