I contacted Rey Gallegos, Nevada State Manager and Mortgage Loan Originator (NMLS # 557038) with HomeBridge Financial Services to get an answer to this question. Here it is! “When a property purchase transaction occurs where an FHA loan is being used to buy the property, the property is assigned a case number. When the FHA appraisal is performed, the appraisal is registered with that case number. The appraisal will then be attached to the property and usable for 120 days (4 months) per FHA guidelines. If you do not close with buyer A using an FHA loan, buyer B may close using the same appraisal for a period of 120 days assuming buyer B in doing an FHA loan. Until the 120 day mark is reached a new FHA appraisal may not be ordered or used. If a buyer is using a loan other than an FHA loan to purchase the property, then a new appraisal will be ordered on a new transaction.”