How long are home appraisals valid?

How long are home appraisals valid?

house appraisal paperwork

How long are home appraisals good for?

Generally, house appraisals in Seattle are valid for 90 days (about 3 months) as long as the housing market is stable. If there is a booming market and houses are selling fast, house values can change quickly. You may want to have your property appraised sooner to sell at a potentially higher price. Loaning institutions require up-to-date appraisals in order to approve home loans, and the types of loans also figure into the equation. 

For example, the U.S. Department of Veterans Affairs (VA) and the Federal Housing Administration (FHA) have their own regulations and rules for their appraisals. The VA has its own appraisers, so veterans applying for a VA house loan can’t choose their own appraiser. VA appraisals expire in 6 months. How long are home appraisals good for when dealing with the FHA? Typically, 120 days (about 4 months). Sometimes, FHA home buyers can receive a 30-day extension if conditions are met.

When and why are house appraisals needed?

  • If you have done relatively extensive renovations on your house, such as bathroom or kitchen remodels, you should have your home appraised and use that appraisal report to upgrade your home insurance coverage to reflect the new value of your house.

  • If you want to refinance your home, an appraisal is needed.

  • If you are selling your house, an appraisal could be beneficial. The appraisal could reassure a potential buyer that the asking price is in line with the house’s value.

How to prepare for a house appraisal

Although appraisers are trained to ignore clutter and messiness, they are still human, and first impressions matter. So how do you prepare for an appraisal?

Smarten up your Seattle house by decluttering, making small repairs, and repainting beforehand. Use elbow grease to get everything sparkling clean, especially the kitchen and bathrooms.Turn on the lights and open curtains to make the house bright and cheerful. If the weather is nice, open windows to let the fresh breeze in. Light a delicately scented candle and display a bouquet of flowers in a vase. 

Don't forget to tidy your yard by mowing, trimming, and edging. Planting some colorful flowers around the front door will give a good first impression. Don't overlook a banged-up mailbox or outdated house numbers, and replace them if needed. Is the doormat dingy? If so, get a new one.

The housing appraisal process

The easiest way to find a reputable appraiser is to ask for referrals from local real estate agents or mortgage lenders. Depending on your location in the Seattle area and the size of your property, you can generally expect to pay anywhere from $275–$900. 

Once you have a list of appraisers, have a chat with them to decide which to hire. Ask them about their licenses, years of experience, and prices. Confirm their license by searching the Appraisal Subcommittee National Registry for Washington State. Generally, you want an appraiser who focuses mainly on your type of property.

During the housing appraisal process, measurements will be taken of your property, upgrades will be examined, and the condition of the structure—both inside and outside—will be graded. Your house's age and the prices of similar houses in your immediate area will also be considered. 

Once everything has been examined and reviewed, the appraiser will write up a report about the house's value. If you are not satisfied with this report, you may be able to appeal against it if you have proof and sound reasoning. Otherwise, you may have to pay another independent appraiser for another appraisal.

Did you know you can avoid having your house appraised?

If you want to avoid the aggravation of having your house appraised for sale, you may want to consider selling your house to a reputable Seattle cash home buyer company, such as We Buy Ugly Houses®. We Buy Ugly Houses makes selling your house for cash easy and fast in Seattle. 

Not only can you avoid the hassle of a house appraisal, but you will also bypass making repairs, finding a real estate agent, having photographs taken, and the other annoyances involved with selling a house the traditional way.

How to sell to We Buy Ugly Houses®

Call us to make an appointment for a walkthrough of your house by one of our local Seattle property specialists. We will happily answer any of your questions and address any concerns you may have. We Buy Ugly Houses has over 25 years of experience in cash house sales, a 95%* customer satisfaction rate, and excellent reviews.

We can often make you a fair cash offer the same day as our free, no-obligation visit. If you accept our offer, you can sit back and relax. The closing is often as fast as three weeks, and there is no need for you to make repairs or even clean your place up. We buy “as is.” Call us at 866-200-6475 to skip the inconveniences of a conventional house sale.