What happens on appraisal day?
A short visit, a lot of measuring, and a report you are entitled to see.
Who comes to the house?
Usually the appraiser, although some loans now use a separate person to collect property data while the appraiser works from the office.
Fannie Mae's Selling Guide describes hybrid appraisals, where a trained property data collector visits and an appraiser completes the report from that data. The lender decides which type applies to your loan. Whoever arrives, the job at the house is the same: see it, measure it, photograph it.
Do I need to be home?
Someone needs to let the visitor in and make every area reachable, but it does not have to be you.
An agent, a tenant or a trusted neighbor can handle access. Before the knock, open the locks and gates and put pets away. If you do stay, keep your folder of permits and upgrade dates ready and let the work happen without a running commentary.
What is the appraiser checking while inside?
Size, layout, condition, quality, and anything that has been updated.
Measurements follow the ANSI Z765 standard, and rooms below grade are counted separately from above grade living area. Photos cover the kitchen, every bathroom, the main living areas and bedrooms, and any space below grade. All of it feeds a condition rating from C1 to C6 and a quality rating from Q1 to Q6, both defined in Fannie Mae's guide.
What can I say to the appraiser?
Share facts freely, and leave the number alone.
Point out anything easy to miss, like a replaced sewer line or new attic insulation, and hand over the paperwork that proves it. Do not suggest a value or mention the price you need. Lenders must comply with appraiser independence requirements, and those rules exist to stop pressure on the appraiser.
What happens after the appraiser leaves?
The appraiser researches sales, writes the report and sends it to the lender, which reviews it before the loan moves forward.
If the report was made "subject to" a repair or an inspection, the lender tells you what is needed and how completion will be confirmed. If nothing is outstanding, the next thing you see is the report itself.
When do I get a copy of the report?
For a first lien mortgage, the lender must give you a free copy promptly after it is complete, and no later than three days before closing.
The Consumer Financial Protection Bureau explains the rule. Read the report when it arrives. Check the room count, the square footage and the list of features against what you know. A factual error is easier to raise early than at the closing table.
If the appraisal is for your own planning rather than a loan, you can book your home appraisal through Pocket Appraisal.
Quick questions
How long does the visit take?
Can I ask the appraiser what the house is worth?
What if I spot an error in the report?
- B4-1.2-03, Hybrid Appraisals. Fannie Mae Selling Guide, Fannie Mae. https://selling-guide.fanniemae.com/sel/b4-1.2-03/hybrid-appraisals
- B4-1.3-05, Improvements Section of the Appraisal Report. Fannie Mae Selling Guide, Fannie Mae. https://selling-guide.fanniemae.com/sel/b4-1.3-05/improvements-section-appraisal-report
- B4-1.2-01, Appraisal Report Forms and Exhibits. Fannie Mae Selling Guide, Fannie Mae. https://selling-guide.fanniemae.com/sel/b4-1.2-01/appraisal-report-forms-and-exhibits
- B4-1.1-02, Lender Responsibilities. Fannie Mae Selling Guide, Fannie Mae. https://selling-guide.fanniemae.com/sel/b4-1.1-02/lender-responsibilities
- Do I have the right to receive a copy of my home appraisal?. Consumer Financial Protection Bureau. https://www.consumerfinance.gov/ask-cfpb/do-i-have-the-right-to-receive-a-copy-of-my-home-appraisal-en-192/
- What are appraisals and why do I need to look at them?. Consumer Financial Protection Bureau. https://www.consumerfinance.gov/ask-cfpb/what-are-appraisals-and-why-do-i-need-to-look-at-them-en-167/