General Question

mrrich724's avatar

How much is a property appraisal, and where can I find an appraiser?

Asked by mrrich724 (8537points) February 28th, 2012

I am in the process of buying a home for the first time. My realtor stated I need an appraisal done for the bank, as part of the process to acquire my home loan. She stated it would be “around $475.00”

My questions are two fold:

1) Roughly, how much does an appraisal cost/ does that seem like a typical rate?

2) Where in Broward County, FL (or any other resource), can I use to find a reputable appraiser?

Thanks all!

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7 Answers

missingbite's avatar

We just got our home appraisal back today. We paid $425.00 in Phoenix AZ and the appraisal was ordered by our loan officer. Let the loan officer order the appraisal as they will get a reputable one since they don’t want to loan on a house that is over priced.

Adirondackwannabe's avatar

You can go with the bank or go to FREAB for your area. Florida Real Estate Appraisal Board. They regulate and certify appraisers in Florida.The price sounds about right.

creative1's avatar

That is about what I paid up in MA this past August so it seems like a reasonable rate. I know in my case the Mortgage company had particular appraisers they dealt with and once I paid for the appraisal to be done and it was then scheduled and then done.

bkcunningham's avatar

Here is a list of appraisers in the 33327 zip code. I don’t know the cost. Sorry.

mrrich724's avatar

@bkcunningham thanks for the efforts, but no costs were listed when I looked either, LOL

To all, thanks for sharing. Glad I’m in the range of what ppl are paying. Also, GA to @missingbite on the loan officer advice. That’s what my agent told me to do, but I’m always skeptical of people, so I wanted to see what others had to say, LOL

Thanks all.

Judi's avatar

The Lender usually orders the appraisal and they can no longer choose the appraiser they want. (Since the housing crisis.) You don’t have to hire one, they have some sort of pool where the appraisers are chosen at random so they don’t kiss up to the mortgage broker in order to get more buisness.

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