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APPRAISAL FEE

An appraisal is an estimate of a property's fair market value. This fee can very from state to state and lender to lender. The typical appraisal fee for a standard single family home, is anywhere from $200 to $600. Lenders use appraisals to confirm that the house you are buying is worth the price you have agreed to pay.
 

 
 

 

 
 

An appraiser will uses the sale price of recently sold properties in the area around the property being appraised to determine a fair market value. An appraisal is generally required by a lender before loan approval to ensure that the mortgage loan amount is not more than the value of the property.

 
 
 
 
       

 

 

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