typical cost for home appraisal
A lender will only approve a loan for a property that appraises for the full sales price of the home â or more. Appraisal Basics. Your lender will choose an appraiser to evaluate your home and youâll pay the appraiserâs fee, typically $300 or $400.
In Bankrate 's annual closing costs survey, the average appraisal cost a little more than $400 in 2011. Buyers sometimes pay for the appraisal when it takes place, and sometimes the fee is included in the closing costs paid on settlement day.