How much does a Home Appraisal Cost??

     Appraisal Types

• Bankruptcy Appraisal
• Divorce Appraisal
• Estate Appraisal
• Tax Appraisal
• Before Buying
• Before Selling
• Family Transactions
• More

2024 Cost of Appraisals​

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Example of Table of Contents for a Narrative Appraisal Report

Narrative Appraisal Report

Outline and Contents
 

                 1. INTRODUCTION
                                         a. Title Page
                                         b. Letter of Transmittal
                                         c. Certification of Appraiser
                                         d. Table of Contents
                                         e. Statement of Limited Conditions and Assumptions
 
               2. GENERAL DATA
                                        a. Date of Appraisal; include the date(s) and parcel(s) inspected.
                                        b. Purpose of Appraisal
                                        c. Area, County, City and Neighborhood Data
 
              3. PARCEL DATA
                                       a. Photographs
                                       b. Ownership Interests; name(s), telephone number(s)
                                           and mailing address(es)
                                       c. Occupancy Data
                                       d. Site Description; topography, easements, access,
                                            and location factors
                                       e. Real Property Improvements; description, measurements,
                                           purposes, condition, and quality.
                                       f. History of Conveyances; five years minimum
                                       g. Zoning and General Plan Data
                                       h. Utilities
                                        i. Discussion of known or potential hazardous waste
                                            materials on subject property
 
              4. VALUATION
                                        a. Analysis of Highest and Best Use
                                        b. Approaches to Value and Reconciliation
                                        c. Value Estimate
                                       
              5. EXHIBITS/ADDENDA
                                        a. Location Map
                                        b. Comparative Sales Location Map
                                        c. Comparative Sales Data Sheet
                                        d. Plot Plan
                                        e. Site Map of Improvements, floor plan (s)
                                        f. Other Pertinent Exhibits
                                        g. Appraiser Qualifications; include all appraisers and technicians
                                        h. Subject Parcel Map                      
                                        j. Available hazardous material usage/waste data
 

$450.00 - $600.00 Narrative    /  Final Opinion of Value
 
Estate Appraisal, Date of Death Appraisal, Appraisal for Trusts, Divorce Appraisal, Bankruptcy Appraisal, Tax Appraisal, Before Buying, Before Selling, Family Transactions, and more

Why a Narrative Appraisal Appraisal Report verses a Formed Filled Report?

Compared to a Lender's Formed Filled report a Narrative Appraisal report is more detailed and comprehensive.   Narrative Appraisers typically are used for certain litigation scenarios when the appraisal report will be disputed or otherwise come under "high scrutiny". This report type is also ordered if a client desires a high level of detail.  The report contains sections for reporting the  results of the sales comparison, cost and income approaches to value, as well as a sections for reconciling to a  final value conclusion.
Also included in the report: 
Overview of Subject

•            Appraiser’s signed certification                 Appraisal report type
•            Identification/brief description                 Interest appraised (e.g., fee simple,.)
•           Type and definition of value                       Effective Date of Valuation
•           Highest and best use analysis                    Property sales history (summarize)

· Location and Surroundings

•          Macro description ,                                      Micro description
•          Immediate Neighborhood-                          Vicinity description

 
 
 Photographs / Charts                                                   Maps / Location

•         Statistics                                                        Market Review
•         Subject’s exterior and interior                     Subject's -aerial,                             
  

•         Zoning Code                                                  Zoning Map
•         Legal Description                                         Site Plan / Sketches  

 Good for: All purposes, especially if there is a potential for a dispute.

$450.00 - $550.00      Restricted Appraisal  

This appraisal results in the exact same value as the Full Appraisal, it includes an interior and exterior inspection, but it is more concise and includes less written description about the property being appraised, the neighborhood, and market conditions - although all of these factors are included in the appraisal. 

Good for: Before Buying, Before Selling, Inter-family transfers, Private Sales, non-lender purposes, and more.  

$400.00 - $450.00 -  Drive-By / Exterior-Only Appraisal   

This appraisal inspection is performed from street and (usually) the appraiser does not leave their vehicle. The accuracy of the valuation is limited to what can be viewed from the front of the house, the MLS, public record, and any description provided by the client, which can include photographs. Good for: Estates, family transactions, before buying or selling, date of death, and more.

$300.00 - $400.00 Desktop Appraisal

This is becoming a more common appraisal method in situations where privacy is important to the client and/or the subject is newer.   Accuracy is limited to what is available in the MLS, public record, and any description provided by the client, which can include photographs.  The appraisal can not be relied on for many uses and may not be acceptable to 3rd parties.  Please contact us for more details.

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Disclaimer:
Service and price is subject to change based on the uniqueness of the property and the property location. More expensive, exceptionally large homes, or those located in rural settings may require more extensive work. Payment is to be received before the report is released.
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