How long is a land appraisal valid?

Question

Turnrow Capital · Accepted Answer

Most lenders accept an appraisal for 6–12 months from its effective date, with 12 months as a common outer limit for stable ag markets. The appraisal itself never legally expires — it is an opinion of value as of one date — but lenders stop relying on it as the market moves.

The effective date is what matters, not the report delivery date. An appraisal effective March 1 describes the market on March 1. In a fast-moving market — rapid rate changes, a commodity swing, a local development announcement — a lender may cap reliance at 90–180 days or require an update even inside the normal window.

Updates are cheaper than starting over. Many appraisers will issue a recertification or update letter for a fraction of the original fee if conditions are stable and the property is unchanged. If you are shopping lenders with a recent appraisal in hand, ask whether they can use it; some can if the appraiser will re-address the report to them, though many order their own for independence.

Plan the timeline backward. Since ag appraisals take 2–6 weeks to complete and the appraiser's calendar is usually the slowest step in any land closing, an appraisal that ages out mid-deal is a self-inflicted delay. Order early, close inside the window.