Tracking Appraisal Delays
Help us track appraisal delays…
VaCAP and your fellow colleagues need your help!
As you all have probably heard, according to some, appraisals are taking too long and delaying closing. Their take on this is that there is an appraisal shortage. Some of our Network colleagues have discovered a delay in which the appraisals are being ordered. From a limited sample, an average of 21 days occurs between contract ratification and when the appraisal is ordered. The Network of State Appraiser Organizations is working hard to solve this issue, but first we need to know where the problem truly is before we can fix it.
Here is where you come in. We would like for each of you to take a few minutes and track the dates between when the contract is ratified and when the appraisal is ordered. Once this information is compiled, we will have the data to determine where the problem is or is not.
We have developed this simple spread sheet to track the information. You may find a copy to download here or below.
Once you have complied this information over the next month, please forward back to VaCAP so we may compile this data.
Thank you for supporting VaCAP and the Network of State Appraiser Organizations.