< Back to JVM's Blog

Delay The Appraisal Inspection If Pendings Closing Soon

Appraisers cannot correlate to any comparable sales that close after the appraisal date (the date of inspection). In “hot markets” this is a very important consideration b/c the necessary comps are often pending.

Appraisal inspections should be delayed until after necessary pending sales close.

If an appraisal comes in low and a higher priced pending sale closes after the fact, the appraiser needs to re-inspect and re-write the appraisal with a new appraisal date. This, of course, adds costs and creates delays. Appraisers are also sometimes unwilling to change values.

Jay Voorhees
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646