Real Estate Appraisal  Promote Your Business
Real Estate Appraisal
ProMatch
Directory
Cost Report
  More Services

How Much Does a Real Estate Appraisal Cost?


By ProMatcher Staff



Real Estate Appraisal: Cost Factors



The cost of getting a real estate appraisal will increase or decrease based upon a number of factors. This article is intended to provide you with a checklist of questions to ask yourself and your contractor.

This key will serve as your guide:

$0 = No additional cost
$ = Standard cost
$$ = Increased cost

Ask Yourself:

What type of property is being appraised?

$ - Apartment, condo, or small house

$$ - Large, residential property

$$ - Commercial property (office building, apartment complex, etc.)

Video: Appraisal vs. Inspection

Does the property have any unique features?

$ - When the property does not have any unique features. (The home or building can easily be compared to other recently sold properties in the neighborhood.)

$$ - When the property has a pool or guesthouse.

$$$ - When a property has many unique features and the appraisal requires more attention to detail. (With unique features, it is more difficult to use the “comparables” in the neighborhood.)

What method of appraisal will be used?

$ - When the sales comparison approach is used to value the property.

$$ - When the cost approach is used to value the property. (This method is typically used to evaluate new construction.)

$$$ - When the income approach is used to value the property. (This method is typically used to evaluate commercial and other income-producing properties.)

Real Estate: Appraisal Methodology

How will the appraiser be selected?

$ - When the home buyers can chose their own appraiser.

$$ - When the appraiser is selected through an appraisal management company.

Is the appraiser designated by a professional association?

$ - When the appraiser is licensed or certified by the state.

$$ - When the appraiser holds a special designation from a reputable professional association. (Designated appraisers are typically more experienced and they must meet additional educational requirements.)

Ask the Pro:



1. How long do you expect the appraisal to take?

2. Are you licensed and insured?

3. What types of properties are you certified to appraise?

4. Do you have any references that I might be able to contact?

5. How many appraisals have you completed in the last 12 months?

6. Do you belong to any professional associations?

7. Do you hold any additional professional designations or certifications?

8. Is it possible to appeal or challenge the appraisal?



1 person found this article helpful. Have you?

About the Author

ProMatcher Staff, ProMatcher
Orlando, FL 32803

If you would like to re-print this article, please contact the author.
Free Quote from Local Home Appraisers.
Home Appraisal Quotes

Related Topics

Home Appraisers
Commercial Real Estate Appraisal
Online Home Appraisal Sites
Learn more about online home appraisal tools and their accuracy.

Home Appraisal vs. Home Inspection
Learn more about the difference between a home appraisal and a home inspection.

Real Estate Appraisal Methodology
Learn more about the three approaches to real estate appraisal: the sales comparison...

Home Appraisal Tips
Learn some helpful tips for preparing for a home appraisal.

What is Real Estate Appraisal?
A real estate appraisal is the report compiled by a trained expert that gives an...

Free Quote from Local Home Appraisers.

Other Related Topics

A Guide to the Real Estate Counseling Group of America
The Real Estate Counseling Group of America (RECGA) is a small group of distinguished...

NSREA Appraiser Designations
Learn more about the designations provided by the NSREA.

The CREA and CCRA Appraiser Designations
Learn more about the CREA and CCRA professional designations offered by the National...

NRAI Appraiser Designations
Learn more about the professional designations offered by the National Residential...

The IFA Appraiser Designation
The IFA designation is awarded to experienced residential real estate appraisers by the...

Editorial Disclaimer: The views expressed in articles published on this website are those of the authors alone. They do not represent the views or opinions of this website or its staff. The articles on this site do not constitute a recommendation or endorsement with respect to any views, company, or product. Authors affirm that article submissions are their original content or that they have permission to reproduce.

Free Cost Estimates   |   Real Estate Appraisers Directory   |   Real Estate Appraisal Cost Report   |   Free Business Listing



Home   |   Articles & Videos   |   Affiliates   |   Networking Groups   |   Search by Category   |   Professionals

Terms of Use   |   Privacy   |   About Us   |   Contact Us   |   Member Login

© 2003-2014 - VentureStreet, LLC

Join Our Business Network