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What does an Appraisal cost? – Mortgage

What does an Appraisal cost?


The cost of an appraisal is influenced by several factors however the two most common factors that influence the appraisal cost are the type of property and its value. With that said, if you live in a single family residence, and your property value is $500,000 or less, you’ll most likely end up paying around $450 for the appraisal.

When an appraiser is trying to figure out what your property is valued at, they are going to look at recent sales in the last 3-6 months of properties that are similar to yours. Typically, appraisers will want to look at sales comparables within a half mile of your property, however if there are no sales comps within that radius, then they might expand it.

One quick tip that I’ll add is that if you’re getting your home appraised, it doesn’t hurt to clean up around your house before the appraiser arrives. Although they’re not technically supposed to value your property based upon how clean it looks, you probably don’t want the appraiser showing up with it looking like a dump.

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