Question:

How big are the home appraisal fees, and what do they depend on?

Answer:

The home appraisal fees will most likely vary from state to state, from assessor to assessor.

Commonly, they will depend on the size of the property to assess and the appraisal cost of a multi-unit property (2 - 4) may be doubled compared to the price of a single-house. Additionally, if the property is a rental, the home appraisal report will have to include additional items, such as a rent survey and income report. An appraisal update will cost only a little less.

Also, if you are hiring an assessor/appraiser even from a little beyond your community, you may have to expect trip fees added to the overall home appraisal cost. Additionally, if the property is outright considered luxurious, no matter its size, you should expect a "luxurious" fee. Additional items required by the lender like Notice of Completion or the REO Addendum may add around $100 each to the overall home appraisal fee.

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