Appraisal Contingency Deadline Guide for Agents and TCs

The appraisal contingency deadline sits later in the timeline than most of the other early deadlines, which is exactly why it’s easy to lose track of once inspection and option-period activity has wrapped up. It generally lands somewhere around day 17 to 21 in a standard 30 to 45 day closing, well after the appraisal has been ordered and typically after it’s been completed.

Quick answer: The lender generally orders the appraisal in the first week after loan application, and it’s completed within roughly 7 to 14 days. The appraisal contingency deadline itself is usually set later, often around day 17 to 21, so the lender has time to review the report before the buyer has to act. If the value comes in low, the standard options are renegotiating price, covering the gap in cash, or terminating under the contingency.

When does the appraisal get ordered?

Lenders typically order the appraisal once the buyer’s loan application is complete and the file is far enough along in underwriting, often within the first week after contract signing. The appraiser then has to schedule access to the property, complete the inspection, and write up the report. That usually takes another one to two weeks, depending on local appraiser availability and workload.

Why does the contingency deadline fall later than the appraisal itself?

Contracts generally build in a buffer between when the appraisal is expected to be completed and when the buyer has to formally act on it, because appraisal timing isn’t fully predictable. That buffer is why the appraisal contingency deadline often sits around day 17 to 21 rather than immediately after the report comes back. The risk is that everyone stops watching this later date once the earlier inspection and option-period deadlines have passed. It sits quietly until it’s suddenly the most urgent thing on the file.

What happens if the appraisal comes in at or above the contract price?

If the appraised value supports the purchase price, the contingency is generally satisfied with no action needed beyond the lender confirming the loan can proceed at that value. This is the outcome in most transactions, and the buyer doesn’t have to do anything further about the appraisal.

What are the options if the appraisal comes in low?

A low appraisal usually opens up a few standard paths, and which one applies depends on the contract’s specific appraisal contingency language. The seller may agree to reduce the price to match the appraised value. The buyer may agree to bring additional cash to cover the gap between the appraised value and the purchase price, since most lenders will only finance based on the lower of appraised value or purchase price. Or, if no agreement is reached, the buyer may be able to terminate under the contingency and recover earnest money, as long as the termination notice is delivered before the deadline expires.

Can an appraisal be challenged or reconsidered?

In some cases, buyers or lenders can request a reconsideration of value if there’s a specific, documented basis, such as comparable sales the appraiser missed or an error in square footage. This process takes extra time and isn’t guaranteed to change the outcome. It also needs to happen well before the contingency deadline. If the deadline passes first, the buyer may lose the right to terminate even while a reconsideration is pending.

Why is this deadline easy to miss?

By the time the appraisal contingency deadline arrives, the file has usually been through inspection, possibly an option period, and early loan document collection. Attention shifts toward whatever feels most active. A deadline sitting quietly on the calendar for two and a half weeks doesn’t feel urgent until the appraisal report lands and there are only a few days left to act. Flag this date the moment the contract is signed, not when the appraisal comes back, and it won’t surprise you. Our how it works page covers how we track deadlines like this across a full file, and NAR publishes general background on how appraisal and financing contingencies typically interact in a standard purchase contract.

Frequently asked questions

Can the appraisal contingency deadline be extended?

Sometimes, if both parties agree in writing before the original deadline passes. Sellers aren’t obligated to grant an extension, so this works best when requested early rather than at the last minute, and it should never be assumed without written confirmation.

What happens if the appraisal deadline passes without action?

The contingency is generally treated as satisfied or waived, meaning the buyer may lose the right to terminate or renegotiate based on a low value. This depends on the specific contract language.

Who pays for a reconsideration of value?

This is usually negotiated case by case and isn’t standardized across contracts; some lenders absorb the cost, others pass it to the buyer.

An appraisal deadline that sits quietly for two weeks before it suddenly matters needs a reminder set on day one, not day sixteen. See pricing or get started to see how our TCs keep these dates from sneaking up on a file.