Real Estate Appraisal Fees
Many people who begin the process of applying for a mortgage loan, face the need for an appraisal inspection to validate the market value of the property. For this they need to have an appraisal service, and like other services people do not know how much does appraisal cost?
There is not flat straight figure how much does home appraisal cost, but there are some appraisal guidelines that can give you a fairly close assumption how much an appraisal fees are expected. You must know that any measures trying to influence the appraiser or manipulate his appraisal property inspection and evaluation of market worth report is against regulations and can be reported as a complaint against you.
How Much Costs A Home Appraisal
There are some basic parameters that influences the appraisal costs and fees:
- Size of property
- Complexity of property
- Exterior Only (‘Drive by’) or Interior Inspection
- Distance From Appraisal Office
Size of property – For example if its a one family or four family, if its a small home or a ranch… The appraiser will need to find information to compare related closed deals and in a neighborhood town this will be easier than in a suburb location.
Complexity of property – If the place has its own unique features those make the evaluation more complex thus more expensive (pool, ranch, stable,) are just examples to parameters that influence the appraisal fees.
You can see some appraisal fees examples, these examples are general and probably would be differ from state to state, and from province to province. Except from this each appraiser has his/her own set of parameters what is complex and how ‘deep’ does exterior appraisal check up goes.
Appraisal Costs Examples
Single Family Residential & Condominium Appraisal
$400.00 – $475.00
Exterior Only Single Family Residential & Condo Appraisal
$350.00 – $400.00
Manufactured Dwelling Appraisal
$550.00 – $600.00
Two to Four Unit Residential Appraisal
$500.00 plus $50.00/unit – $550.00 plus $50.00/unit
Vacant Residential Land Appraisal
$500.00 and up depending upon complexity.
Other Appraisal Fees Options
There are FHA approved appraisers and their fees maybe a little higher as their FHA appraiser guidelines are more strict and extended to other interior safety and domestic inspections.
The VA have a maximum appraisal limit set, which can be seen in the VA loan website.
So What Is Your Next Step?
It is suggested to begin with balancing your credit score..
Every week you are wasting money.. sending dozens of dollars to the rich credit companies, who relay on you to keep doing NOTHING.
If your score is below 700, you might want to do something about it – get this ‘Credit Repair University’ which will save you money and time.
Yes, you might need to invest a small sum to get a grip of things.. But if you think education is expensive.. try ignorance..
You are probably paying thousands of dollars per year in fees and interests to credit companies which could be going straight to your pocket.
So do your math… and take action NOW.