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How Long Is A Real Estate Appraisal Good, Valid For?

How Long Is A Real Estate Appraisal Good, Valid For?

The call to the real estate office and asking if there is a current appraisal on the property?

Not unless someone refinanced recently, paid for one to be done to evaluate an estate. Or just peeled off the bills, the money to know what the place is worth today. Here and now. To satisfy the I want, need to know for the inquiring mind. Needing an accurate  number.

And when the appraisal for real estate property is done, there is a time bomb that starts ticking.

Valid because it reflects the last six months to a year filter slice study of properties like it. Sold and for sale both under the microscope. The current real estate market which changes. Because, well it is a market. Like the ocean that swells, ebb and flows.

So okay. But what if you have an appraisal done in the last year, will a bank accept that in financing a sale of a home?


How come? Because the bank orders the appraisal, thank you very much.

You don’t bring one in off the street.

The guy or gal doing the valuation is given orders by the financial institution too.

Everything is done with quality standards in place. Not every appraiser is in the stable of the ones used by the bank either. 

Plus when the appraiser did the paperwork assessment for the bank.

It is not to be used for other purposes, given out to other people to study or benefit from without proper release authorization. Even though that makes some people sqawk.

 The real estate appraiser is licensed, works for a living. Has rules and regulations to go by and protect confidentiality of the folks involved. Loose lips sink ships still applies long after war time.

And no one wants calls scolding about you had no right to blah blah blah share information.

That can be used jazz band maine photoagainst the person who paid for it.

Ouch, that is a sour note.

horses winter photoSo the answer to the question how long is a real estate appraisal on a property good for is a year or less.

And when markets shift drastically up or down, all the players involved in a real estate sale can raise eye brows.

Not put as much stock in the valuation as the date it was done gets closer, nearer to that year old expiration mark.

The comparable had better be a year or less for sold properties, other current listings competing for a buyer in the open market today.

There are times when the year’s date of sale on sold transactions can be extended.

But the lack of sales like the subject property, other circumstances on why it best to use and make an exception is warranted. Sound and accepted. Assessment of a property by a town or city that were done six years ago or more. Those don’t reflect the current market either. Those “valuations’ done for other reasons than financing a home. But to raise the money to run a town. Fill potholes, plow roads, give police a check, cruisers and to keep schools open, educating the three R’s.

Also, the more attractive the terms of a real estate sale, the higher the valuation that can result.

Favorable owner financing on a seller carried property mortgage loan are one example. Where beyond the sale price, the property, the cost of financing or early possession, use of the premises can justify a higher figure paid.

I’m Maine REALTOR Andrew Mooers, ME Broker

207.532.6573  |  [email protected]   | 

MOOERS REALTY 69 North Street Houlton Maine 04730




Andrew Mooers

Welcome to our Maine real estate website. I am the father of four grown children, have listed, marketed, sold properties for over forty years. Lots of changes in the real estate industry over that many decades and daily we re-invent our job. I grew up on a Maine farm that I bought from by three older brothers. My youngest son continues in the tradition on that same Maine farm. Here to help with property searches for homes, farms, land, waterfront, multi housing rentals, small mom and pop business listings.

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