What happens if an appraisal delays my closing date?

An appraisal is a written opinion of what a property is worth, and your lender uses it to help decide the value of the home that secures your loan, according to the Consumer Financial Protection Bureau. Your lender normally orders it, and you typically pay for it as part of the financing process.

Appraisals can arrive later than planned or raise questions, and either can move a closing date. A past 3E Lending client wrote in a Google review that an appraisal issue pushed back their closing date and that Kimberli kept everything on track and communicated proactively. Every file is different, and the outcome depends on the property and the lender.

On a typical home loan you are entitled to a copy of the appraisal, no later than three days before closing, per the CFPB. If your schedule moves, ask your lender and your agent how and when they will update you. Kimberli can talk through what to expect before you make an offer.

RelatedConventional loan · Fast pre-approval