Real Estate Appraisal Cost Checklist
When evaluating a cost estimate from a real estate appraiser:
- How long will it take to get the appraisal?
- How will the appraisal be delivered? Electronically? By mail? Both?
- Are you getting an appraisal or a CMA (Comparative Market Analysis)?
- There are several types of appraisals. Make sure you are getting the type you need based on your intended use (purchase, refinance, home equity loan, selling, divorce).
- If you are using the appraisal for financing, can you choose your own appraiser or do you have to have one assigned by an appraisal management company?
- Are you sure you need an appraisal or do you need an engineering/home inspection?
- Will the appraiser use the “sales comparison,” “cost” or “income” approach? Is this the correct approach based on your needs?
- Is the appraiser local?
- If you are using the appraisal for financing, do you have to pay for the appraisal upon completion, or can you pay at settlement?
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Learn more about real estate appraisal cost factors.
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Learn more about the factors that increase and decrease the cost of real estate appraisal.
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Learn about real estate appraisal costs and what to consider when hiring a property appraiser.
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