What to Expect During a Home Appraisal (Buyer Side)

Once your offer is accepted and your loan is in motion, one of the next key steps is the home appraisal. While it may seem like just another checkbox in the process, the appraisal plays a major role in determining whether your transaction will move forward as planned—and it directly protects your investment. Here’s what you need to know as a buyer.

Why Appraisals Are Required
An appraisal provides an unbiased estimate of the home’s market value, which your lender uses to confirm that the loan amount is appropriate. Lenders won’t fund a loan that exceeds the appraised value, so this step ensures both you and your lender aren’t overpaying for the property. It also helps verify that the home meets financing requirements, especially for FHA, VA, or conventional loans that have specific condition standards.

Who Conducts the Appraisal
The appraisal is ordered by your lender and performed by a licensed, third-party appraiser. This professional is neutral—they aren’t representing you, the seller, or either agent. Their job is to follow federal, state, and lender-specific guidelines to provide an objective valuation of the property.

What the Appraiser Evaluates
During the appraisal, the appraiser will look at comparable home sales (also known as comps) in the area—typically within the past few months and within a similar price range and square footage. They’ll also assess the condition of the home inside and out, as well as the layout, construction quality, finishes, and any notable upgrades or deferred maintenance. Factors like neighborhood, school district, and lot size can also influence the final value.

Timing and Process
Appraisals usually take place within one to two weeks after the purchase agreement is signed. The appraiser will visit the property, take notes and photos, and then complete a report that is typically delivered to the lender within three to seven business days. Once the report is finalized, you’ll receive a copy to review through your lender.

What Happens If the Value Doesn’t Match the Price
If the appraisal value meets or exceeds the contract price, that’s great news—the sale proceeds as planned. However, if the value comes in lower than the agreed price, there are a few possible outcomes. You may renegotiate with the seller to lower the price, pay the difference out of pocket (if your lender allows), or cancel the contract if you have an appraisal contingency in place. Your real estate agent will help guide you through these options and recommend the best path forward.

Tips to Navigate the Appraisal Process
Keep in close contact with your agent and lender during this stage to avoid delays. If you’re using FHA or VA financing, be aware that certain repairs might be required before closing—your agent can help anticipate and address these. It’s also important to remember that appraisals are different from inspections. While an inspection looks at the home’s condition and systems, an appraisal focuses solely on the property’s value in the current market.

Need Help Navigating Appraisal Outcomes? We’ve Got You Covered.
At Partners Real Estate Brokerage LLC, we’re here to help you understand every step of the buying process—from contract to keys. If your appraisal raises questions or hurdles, we’ll be there to help you respond strategically and confidently.

Veronica Zerpa, Broker
Partners Real Estate Brokerage LLC
📱 407.603.0088 | 📧 Veronica@JoinThePartners.com
Your trusted real estate guide throughout Central Florida.