The deadline date for an appraisal contingency is the date by which any claims made by the buyer must be made. Once you accept an offer on your home, the buyer has 30 to 45 days to lift all contingencies depending on what you agree on for a close date, and that includes ordering the appraisal. Traditionally, the appraisal takes place after the inspection, and must be completed in the 21 day period after signing the offer. Within the Contingency Period, Buyer may obtain an appraisal of the Property from a Pennsylvania certified appraiser. Appraisal came in at value with no contingencies but I was on pins and needles waiting. Appraisal Contingency Ends: This date is specified as a certain number of days from the Binding Agreement Date. The appraisal contingency gives the buyer the right to back out of the sale if the home appraises for less than the agreed-upon value. If this number is 18 days, then the Appraisal Contingency expires at midnight on the 20th. Contingency 2: Home appraisal. Contingency Period: days (21 if not specified) from the Execution Date of the Agreement. Therefore, if you accept the buyer’s offer on May 1, the contingency removal date would be May 17. My lender didn't really give me any options of recourse except "it will come in, don't worry about the dates." ... As a realtor it is your job to know this date and make sure they are either approved or you have asked the lender and seller’s agent for an extension. They told me they legally cannot call the appraiser for follow up … So, what happens at 12:01am on the 21st? Within the Contingency Period, Buyer may obtain an appraisal of the Property from a Pennsylvania certified appraiser. Contingency Period: _____ days (30 if not specified) from the Execution Date of the Agreement. As an example, in California, the contingency period for inspections and appraisals is typically 17 days. The inspection contingency allows you to renegotiate the price or demand repairs if serious defects are found during the inspection, or even back out … Discover the difference between an appraisal and financing contingencies. An appraisal contingency can be confusing. If Buyer is obtaining Appraisal contingency: ... contingency lets existing homeowners leave a transaction if they're unable to sell their current property by a certain date. There is one exception, however. This Contract is contingent OR is not contingent upon an Appraisal pursuant to this paragraph.Buyer shall have until 9 p.m. Days (minimum of 21 days recommended) following the Date of Ratification to obtain an Appraisal (“Appraisal Deadline”). Your contract may stipulate that the appraisal has to be done sooner than that. So, if the appraisal comes in too low, and there’s time, the buyer can petition for a second appraisal. 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