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Appraisal Fees

Posted on: 06th Jan, 2005 09:25 pm
The Appraisal fee charged for inspecting the property which is to be sold. The appraisal is usually carried out by a third party providing services to the buyer. Before buying any property it is mandatory to get its worth estimated and documented.

The appraisal fee can vary in accordance with the following factors:
  • The type of property i.e. single family or duplex etc.

  • Whether the property is owner occupied

  • Rental income if any

  • Whether under construction
The appraiser must be certified and must first make sure that the property is licensed and registered. The property along with the articles to be sold must be inspected and value should be judged. An investment property is valued at both the rent and the operating costs involved. The current market costs are considered. An undeveloped property requires appraisal before and after completion. All these involve extra costs that never exceed $500.
More factors:

-Location (rural or down town)
-Complexity of assignment (4,500 SqFt house surrounded by 1,100 sf homes)
-Type of assignment (full appraisal, drive-by, land appraisal, etc)
-Timing (If you need an appraisal in 2 days and average turn time is 2 weeks, price will go up)
Posted on: 04th May, 2007 10:09 pm
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