1. Objective
This SOP defines how a Virtual Assistant (VA) confirms the appraisal is ordered, coordinates property access, prepares the appraisal support packet (for seller-side transactions), follows up on status, and escalates the results the moment the report arrives.
The appraisal protects the lender and the buyer. If the property appraises below the purchase price, the deal is in jeopardy — the lender will only lend on the appraised value. The VA cannot influence what the appraiser concludes, but the VA can make sure the appraiser has the information they need, that access is arranged without delays, and that the agent knows the result within minutes of it arriving.
Where this SOP starts: The inspection contingency is resolved (or the contract is proceeding) and the clear-to-close has not yet been received.
Where this SOP ends: The appraisal report is received, result is confirmed and escalated to the agent, and the appropriate next step (contingency removal or renegotiation) is initiated.Success looks like: The appraiser has access and the support packet before the appraisal date, the agent receives the result within the same business day it arrives, and the transaction proceeds — or the agent has everything needed to manage a low-appraisal situation.
2. Your Role & Boundaries
2a. What you handle independently
- Following up with the lender within 3 days of contract execution to confirm the appraisal is ordered
- Coordinating property access with the listing agent for the appraiser
- Compiling the appraisal support packet from agent-provided information (seller-side transactions)
- Delivering the support packet to the AMC or appraiser when assigned
- Tracking the appraisal completion timeline and following up if delayed
- Receiving the appraisal report and saving it to the transaction file
- Notifying the agent of the appraised value immediately on receipt
2b. What requires agent approval before acting
- Any items to include in the appraisal support packet — the agent provides or approves all content; the VA compiles
- Any communication with the appraiser beyond standard logistical coordination (access instructions, packet delivery)
- Any response if the appraisal comes in low — the agent determines the next step (renegotiate, buyer pays gap, challenge, cancel)
- Ordering any specialty appraisal or challenging the result
2c. What you never do
- You never negotiate on the agent's behalf under any circumstances.
- You never provide pricing, legal, or strategic opinions to any party.
- You never sign or initial any document on behalf of the agent, client, or any party.
- You never communicate directly with the other party's client.
- You never fabricate data or provide the appraiser with figures not sourced from the agent's confirmed information — the support packet is factual only.
- You never tell the appraiser what value to use, suggest a target number, or provide any opinion on property value.
- You never take any action on a low appraisal (renegotiation, cancellation, formal challenge) without the agent's explicit instruction — a low appraisal is an agent conversation, not a VA task.
- You never share the appraisal result with the buyer, seller, or any party before the agent has reviewed and decided how to communicate it.
When in doubt: Save the report, note the value, and notify the agent immediately. All strategic decisions flow from the agent.
3. Schedule & Trigger
Trigger: Executed contract received from Transaction Coordination Master. The VA follows up with the lender to confirm the appraisal is ordered within 3 business days of contract execution — do not wait for the agent to prompt this.
Timeline context: Lenders are required to order the appraisal through an Appraisal Management Company (AMC). The AMC assigns an appraiser, who schedules the physical inspection. This process takes time — if the order is delayed, the appraisal can become a closing bottleneck. Proactive follow-up on Day 3 is not being pushy; it is protecting the timeline.
High-volume note: If the agent has multiple concurrent transactions, all appraisal deadlines are tracked independently. A single transaction's appraisal delay can hold up a closing — track each file separately.
Sequence context: This SOP runs after Inspection and in parallel with Lender Communication & Loan Monitoring. Both are active during the escrow period. When the appraisal contingency is cleared, it feeds into Contingency Removal.
If you are unable to complete this task: Notify the agent at the start of your absence or as soon as possible. Flag any open or time-sensitive items. The agent will determine whether to delegate or defer. Never let a recurring deadline pass without flagging it to the agent in advance.
4. Confirming the Appraisal is Ordered
Within 3 business days of contract execution:
Contact the loan officer or processor (confirm who the day-to-day contact is per Lender Communication & Loan Monitoring) and confirm:
- Appraisal has been ordered through an AMC
- AMC has been assigned (get name if available)
- Estimated date range when the appraiser will contact the listing agent for access
- Estimated report completion date
Log this confirmation in the transaction timeline.
If appraisal is not yet ordered after 3 days: Notify the agent — this is a flag, not something the VA resolves independently.
5. Property Access Coordination
When the appraiser (or AMC) contacts to schedule access:
Provide to the appraiser:
- Full property address
- Access instructions (lockbox location and type, or listing agent coordinates access)
- Listing agent name and phone (as the on-site contact if applicable)
- Any access notes (pets, security, building entry procedures)
Notify the listing agent:
Let them know the appraisal is scheduled and provide the date and time:
Hi [Listing Agent Name] — the appraisal for [Address] has been scheduled for [date] at approximately [time window]. The appraiser is [name] from [AMC name if provided]. Please confirm access is arranged and let me know if anything changes.
[VA Name] on behalf of [Agent Name]
For occupied properties, ensure the seller knows the appraiser is coming — coordinate through the listing agent, not directly with the seller.
6. Appraisal Support Packet (Seller-Side Transactions)
For seller-side (listing) transactions, the listing agent's team typically prepares a support packet to provide the appraiser with context. The VA compiles this packet from agent-provided information.
Critical rule: The VA never fabricates data, estimates values, or suggests what the appraiser should conclude. Every item in the support packet is a factual, agent-confirmed data point.
Standard support packet contents:
| Item | Source | Notes |
|---|---|---|
| List of improvements and upgrades | Seller-provided | Include approximate cost and year for each item — e.g., "New HVAC installed 2023, approximately $12,000" |
| Relevant comparable sales | Agent provides | Agent selects comps they believe support the value — VA does not select these independently |
| Property features not obvious from exterior | Seller/agent | Finished basement, bonus rooms, quality of finishes not visible in standard photos |
| HOA information | From listing file | Monthly dues, amenities, any relevant community features |
What never goes in the packet:
- The listing price, asking price, or any target value
- Commentary about what the value "should be"
- Analysis or opinions on market conditions
Deliver to the appraiser:
Provide the packet when the appraiser is assigned — before the appraisal appointment, not after. Confirm with the agent whether to deliver directly to the appraiser, through the AMC, or via the listing agent.
7. Following Up on Appraisal Status
During the time between the appraisal being ordered and the report arriving:
- Include an appraisal status check in the weekly lender follow-up (per Lender Communication & Loan Monitoring): "Any update on the appraisal status?"
- If the estimated completion date passes with no report: notify the agent immediately and follow up with the lender to confirm the delay and get a new estimated date
- Track the appraisal contingency deadline — the appraisal must complete with enough time to remove or address the contingency before the deadline
8. When the Report Arrives
Step 1: Save immediately
Save to transaction file → Appraisal folder:
[Address] - Appraisal Report - [Date]
Step 2: Note the appraised value and notify the agent
Send the agent an immediate notification — do not wait until the next scheduled check-in:
Hi [Agent Name] — appraisal report received for [Address].
Appraised value: $[amount]
Purchase price: $[amount]
Result: [Meets / exceeds purchase price — proceed / Below purchase price — gap of $[amount]]
Report saved to transaction file. Awaiting your direction.
[VA Name]
Step 3: Do not take further action until agent responds
Regardless of whether the appraisal came in at value or below, do not communicate the result to any other party and do not initiate any follow-on process without the agent's explicit instruction.
9. Low Appraisal — Context for VA
If the appraisal comes in below the purchase price, the agent and buyer will discuss their options. The VA's role is to understand the landscape so it can prepare whatever document the agent instructs.
The general options available to the parties when an appraisal is low:
- Seller reduces the purchase price to the appraised value
- Buyer pays the gap in cash (buyer covers the difference between appraised value and purchase price)
- Parties meet in the middle (seller reduces partially, buyer covers the rest)
- Parties submit a formal reconsideration of value to the AMC (agent provides the supporting data)
- Buyer cancels using the appraisal contingency
The VA does not recommend which option to pursue. When the agent makes a decision and instructs the VA to prepare a document (price reduction addendum, cancellation, or other), the VA prepares it exactly as specified and routes it for agent approval before submission.
10. Checklist
Appraisal Order Confirmation
- ☐ Follow-up with lender at Day 3 — appraisal order confirmed
- ☐ AMC assigned — estimated appraisal date range noted in transaction timeline
Access Coordination
- ☐ Listing agent notified of appraisal date
- ☐ Access instructions provided to appraiser/AMC
- ☐ Occupied property: seller aware of appraisal appointment
Support Packet (seller-side transactions)
- ☐ All items received from agent/seller — improvements, agent-selected comps, property notes
- ☐ Packet compiled from confirmed facts only — no estimates or value opinions added
- ☐ Packet delivered to appraiser before appraisal appointment
Status Tracking
- ☐ Appraisal status included in weekly lender check-in
- ☐ Delay (if any) flagged to agent when estimated completion date passes
Report Receipt
- ☐ Report saved to Appraisal folder in transaction file immediately
- ☐ Appraised value noted and agent notified immediately
- ☐ No further action taken until agent provides direction
11. Tools & Access
| Item | Details |
|---|---|
| Lender contact | [From transaction file — loan officer name and direct contact — see Lender Communication & Loan Monitoring] |
| Listing agent contact | [From MLS / executed contract — for access coordination] |
| Transaction file | [Google Drive → Appraisal folder] |
| Agent's preferred notification channel | [For immediate appraisal result notification — confirm at onboarding] |
| Transaction timeline | [TMS or Google Drive — update after each milestone] |