Appraisal question (square foot, fees, price, property)

[wCat]

I've talked to several people in other areas recently and the topic of real estate appraisals came up.

I'm just curious how appraisers in different areas charge homeowners? By the square foot/lot size?
Or a flat fee? And if by square foot....the average per square foot?

Thanks!

[mbmouse]

Here in TN flat fee, typically $350 for the average residential house.

[wCat]

That's very reasonable!

Two recent appraisals I've dealt with were by sq ft.
One house was approx 6000sq ft and the appraisal cost about $800. The other was a 10,000 sq ft house and 2 acre lot. The appraisal cost about $1400. (averages about $15 per sq ft?) This is in Texas.

An associate in Colorado said a $5000 appraisal was not unusual.....but I don't know specifics on the property....whether there was a lot of land was involved etc.

This is the reason that I asked....it seems appraisal reports fees are all over the map from state to state.

[Tom Emmerling]

I am a realtor in Colorado and my clients pay 300-400 for appraisals. I can not imagine someone getting charged 1500.00. There are many out there to choose from so call around.

[shellytc]

Usually a flat fee of around the same as you have been quoted above. with the exception of: acreage, outbuildings, and additional systems in the house. For instance, I had a house on 8.3 acres that had 5 zone heat/cooling and a lot of other additional systems in the home. that appraisal was for more. More time involved trying to find comps and to check everything...

Shelly

[palmcoasting]

Flat fee in my area of Florida.

[doni]

We just had ours appaised...Flat fee.
But I do have questions of my own. We were given no credit for new roof, new interior
doors, new carpet, new windows. Marble bathrooms, cherry and maple cabinets. Not even .50 on the dollar. What gives? We are gong to call the appraiser tomorrow and ask. (We just want to understand, we are not unhappy with the price we were given)

[sablebaby]

Flat fee here in AZ. I paid $325. It goes up a little ($50) if you have a pool.

[shellytc]

Doni, depending on the age of you home, those things listed are "expected", they would take money off for having an old roof, etc. Painting and general maintenance things are considered required. for good condition of the home, you may have been given some additional good will, but minimal. If it had been old stuff, you would have been counted down.... And if you have over improved for the neighborhood, well... that is taken into consideration.

Call the appraiser and see what they say, and then please let us know here. I am always interested in how they handle things.

shelly

[doni]

thnx...we will call tomorrow...I realize things need to be in servicable condition..but I think cherry and maple cabinets and marble bathrooms should carry some weight. We'll
see what her worksheet was like. We just want to see where she applied the numbers to come up with the appraisal. Like I said, we are not unhappy..(it was a little higher than we anticipated!) But still We would like to understand her numbers.My husband sold real estate for 7 yrs and he doesn't know either.