What Homebuyers and Sellers Should Know About Upcoming Appraisal Changes
Residential appraisal reports are changing, and buyers and sellers may notice a difference in how long appraisals take, how much information is requested and how the process fits into the overall closing timeline.
These upcoming changes were recently discussed by Mike Brubaker, President and CEO of Brubaker & Associates, Inc. Real Estate Appraisers and Consultants, during a real estate industry luncheon. Brubaker has more than 40 years of experience in real estate appraisal and has held the SRA designation from the Appraisal Institute since 1988.
For Jean Morency, Director of Sales at Homes by Faircroft, the information is especially relevant because of the impact appraisal timing can have on buyers, sellers and the overall closing process.
Jean brings more than 16 years of sales experience, along with a background in executive sales, finance and lending. That experience gives him a well-rounded perspective on the homebuying process and the many moving parts that can affect a successful closing. In his role as Director of Sales, he works closely with buyers, Realtors, lenders and the Homes by Faircroft sales team, with a focus on clear communication, strong relationships and helping homeowners move through the process with confidence.
“From the sales side, the biggest takeaway is preparation,” Jean said. “If buyers, sellers, lenders and Realtors understand what may be required ahead of time, it can help set more realistic expectations throughout the transaction.”
Beginning November 2, 2026, a new appraisal reporting format will become mandatory for new Fannie Mae and Freddie Mac appraisal submissions. While the purpose of an appraisal remains the same, the amount of property information being collected and reported is expected to increase.
What Is Changing?
According to information Brubaker shared during the presentation, appraisers may be required to collect and report more detailed property information, including:
- Foundation measurements
- Ceiling heights
- The condition and quality of individual rooms
- Renovations and additions
- Whether improvements were permitted
- HOA or PUD information
- Surveys, floor plans and other property documents
The increased level of detail could also mean appraisal appointments take longer than buyers and sellers may be accustomed to.
What Could This Mean for Closing Timelines?
Brubaker noted that the transition may create some challenges as appraisers, lenders and appraisal software companies adjust to the new reporting process.
Buyers and sellers could experience:
- Longer appraisal appointments
- Longer turnaround times
- Additional questions or document requests
- Delays when information is missing
- Reports being returned for corrections
This is where Jean believes communication becomes especially important.
“If you’re working toward a specific closing date, it’s important to know when the appraisal is being ordered and whether there is enough time for it to be completed, reviewed and approved,” Jean said.
How Can Buyers and Sellers Prepare?
One of the simplest ways to help the process is to have property information available early.
Depending on the home, this may include:
- A current survey
- Available floor plans
- HOA or PUD information
- A list of renovations and additions
- Approximate dates improvements were completed
- Permits, receipts or contractor records when available
- Information about unique property features
For buyers, staying in close communication with your lender and Realtor can also help you understand where the appraisal fits into your overall financing timeline.
What About New Construction?
For new construction homes, plans, specifications and upgrade information may be particularly important.
A completed home can include structural selections, design upgrades and features that differ from the standard floor plan. Providing that information helps give the appraiser a more complete picture of the home being evaluated.
“At Homes by Faircroft, we want to make sure the information about the home is clear and available when it’s needed,” Jean said. “The goal is to help everyone involved in the transaction have the information they need to keep the process moving.”
The Bottom Line
The purpose of the appraisal is not changing. What is changing is the amount of information being collected and reported.
Brubaker’s presentation highlighted the importance of being prepared for a more detailed process, while Jean’s takeaway for buyers and sellers is straightforward:
Prepare early, allow enough time and keep communication open throughout the transaction.
Have questions about how these appraisal changes could affect your homebuying experience? Jean and the Homes by Faircroft team are here to help you better understand the process and what to expect along the way.
Jean Morency
Director of Sales
Homes by Faircroft
Contact Jean: 314-527-0012 | jmorency@faircroft.com
