Glossary

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Appraisal Fee
The appraisal fee is the amount of money that a professional appraiser will charge in order to determine the fair market value of a property. That person provides an independent analysis on how the property compares to the rest of the market. Appraisers typically have specific experience in the market where the home is located. They will use homes of similar size, age and quality as a starting point for the home they are appraising. They go through a checklist of items in order to determine the proper appraisal. This might mean noting hardwood floors, updated appliances and any stone surfaces. It might also mean noting the size of the home and the number of rooms. Paying the appraisal fee is just a part of putting a home on the market or buying a home off of the market. Many of these people will charge a few hundred dollars. It is possible to find a professional appraiser who will not charge that much.