How long is an appraisal good for?
February 13, 2007 | Mortgage | 
No comments
Mortgage lenders will allow appraisals up to 90 days old. A loan must close prior to the expiration of the appraisal. Is an expired appraisal worthless?
No. An expired appraisal can be recertified for another 90 days. To do this, the appraiser is certifying that the values are still accurate based on comparables in the area. Many times they will use the same comparables if no new information is available. Most appraisers charge a reduced fee for recertified appraisals.
Popularity: 3% [?]
