Guide to Home & Property Appraisal Costs
Whether you are buying a new home, selling your existing home or even just taking out an additional mortgage on your home, you might need to know exactly how much your property is worth. In these cases, the best option is to hire a property appraiser. These certified individuals will tour the interior and exterior of your home in order to get an estimate of its value. Discover more about the average costs of these services and what can influence their total expense.
National Hire a Property Appraiser Costs
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Average reported costbased on 2457 cost profiles
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Average Costs of a Professional Property Appraisal
Generally, the cost of professional property appraisal is relatively stable across the board. Prices tend to be higher in large cities, as might be expected, but costs are otherwise similar throughout the nation. Homeowners report paying an average of $414 for a property appraisal, and you will more than likely find your own home appraisal to fall within the relatively small range between $395 and $433. Keep in mind that this estimate is based on appraising a traditional, single-family home. Apartments, condominiums or exceptionally large homes may cost more to appraise.
Finding a Great Property Appraiser
Since so much can rest on the assessment of a property appraiser, homeowners are often eager to seek out the best person for the job. In this case, while credentials are important, customer reviews are the best indicators of a property appraiser's success in the field. Accurate assessments result in successful home sales and loans, while inaccurate assessments create unhappy customers.
Factors Influencing The Cost of Property Appraisal
One of the biggest factors influencing the total cost of a professional property appraisal will be how quickly it needs to be done. If you need an appraisal right away for something time-sensitive, you may pay a premium for the speed of completion. If you have a large or unusual home, or if the home is located on a large amount of property, the appraisal may take longer and come with additional costs. If your home has no comparables in the market, meaning that it is unusual or unique, the appraisal may also take longer to complete.
Last updated on Mar 31, 2016
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