How long does it take?

[nsew45]

How long does it take to complete a full exterior/interior appraisal assignment FHA and non FHA from receipt of order through final delivery, not including drive time?

I have an ongoing discussion with a colleague, who states 3.5 hours if it is a local suburban property. I am figuring 8 hours average not including drive time.

The colleague is being required to keep and submit a log, similar to an experience log for certification.

I did a search on this, but I either got nothing or way to much.

 

[Smokey Bear]

3.5 hours start to finish? I'd laugh if it wasn't so sad.

 

[Mountain Man]

Without drive time, no phone calls interrupting my work flow, no computer/software crashes, and if I don't have to play referee for an interoffice argument, 3.5 hours is reasonable. However, that's only counting research time and typing the report. But in real life, it takes day to complete a good report in a suburban area....rural, figure 2 days. In GA, drive and "inspection" time is counted in the experience log. It's been a looooong time, but I think I used 8 hours per appraisal on my residential log.

 

[lionfish]

+/- 8 hours.

 

[Doug Wegener]

Depends

How long does it take to complete a full exterior/interior appraisal assignment FHA and non FHA from receipt of order through final delivery, not including drive time?

I have an ongoing discussion with a colleague, who states 3.5 hours if it is a local suburban property. I am figuring 8 hours average not including drive time.

The colleague is being required to keep and submit a log, similar to an experience log for certification.

I did a search on this, but I either got nothing or way to much.

Maybe 8 continuous hours on an easy non-FHA deal. It could be more if it is more complex.

I'm more careful on FHA deal I would say 1 1/2 to 2 days, including gettting market derived support for my adjustments.

 

[RSW]

After the inspection? 3-5 hours depending on the complexity of the assignment for either conventional or FHA.

 

[nsew45]

I am assuming that interuptions (phone calls, emails, etc.) are not included.

I find HUD REO appraisals always take a couple hours longer because of the inspection and report requirements.

+/- 3.5 hours on a tract suburban subdivision conventional appraisal is possible where you clone a previous report, but not for anything more complex.

 

[Mountain Man]

I am assuming that interuptions (phone calls, emails, etc.) are not included.

I find HUD REO appraisals always take a couple hours longer because of the inspection and report requirements.

+/- 3.5 hours on a tract suburban subdivision conventional appraisal is possible where you clone a previous report, but not for anything more complex.

Yeah, that's reasonable.

 

[Mike Garrett RAA]

This has been debated at least 20 times here on the Forum. As an appraiser with more than 29 years in the business, a Uniform Standards instructor, and teacher of basic real estate appraisal for a national educator I can tell you to do the job properly one should allow about 8 hours per residential assignment. Some can be done quicker...some will take longer.

 

[Doug Wegener]

I think Mike is right.