Home/; All About Appraisers and Appraisals/; Appraisals FAQ. What type of appraiser do I need?. What does an appraisal cost and how long does it take?
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With a house you know the one variable. If you were looking at developed land, it would be closer to a home appraisal. Raw land is the wild.
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The cost of a home appraisal is typically a closing cost fee paid in advance by the home buyer at loan inception, after offer acceptance. The fees vary depending upon the location of the property and complexity of the appraisal process, but the cost of an appraisal is also driven somewhat by market demand, as with any other service.
According to U.S. real estate industry figures, the average cost for a home appraisal is $331, with an average range of between $288 and $374. The low end of that rage is $250 for a home appraisal.
Check out home loan rates now! Kelly Kellogg, a Winter Park, Florida-based appraiser and author of "ABCs of a CMA, Comparative Market Analysis," says a standard appraisal in her market costs between $450 and $550. By contrast, a more complex appraisal could cost between $1,200 and $1,400.
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3. The VA appraisal fee equals. buyers will usually need to pay for the appraisal upfront. That fee varies by state of purchase and type of home (single-family vs. condo vs. manufactured home), but plan for $300 to $500. You can try and recoup this fee at closing as part of your negotiations with the seller.
Even though the home appraisal is the lender's requirement, it's the borrower's responsibility. You usually pay for it as part of the mortgage costs at the time of.
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VA Home Loans VA appraisal fee schedules and Timeliness Requirements Click on a particular State and it will take you to the supporting regional loan center, where you can obtain maximum allowable fees for the appraisal type and the number of days allowed for completion.