Appraisal FeesAppraisal Fee Guildines - Incorporated Areas
(Form Reports)
Single Family Residence Fannie Mae Form 1004 ...... $395
Individual Condominium Unit Fannie Mae Form 1073 ...... $395
Single Family Residence Drive-by Fannie Mae Form 2055 ...... $350
Individual Condominium Drive-by Fannie Mae Form 1075 ...... $350
Small Residential Income Property Fannie May Form 1025 .... $1,195
(Narrative Summary Reports)
Estate Sized Residential Properties ........................................... $1,195 &Up
Commercial Appraisals .............................................................. $2,500 & Up
Vacant Commercial Land ........................................................... $2,000 & Up
Appraisal Fee Guidelines - Unincorporated Areas
(Form Reports)
Single Family Residence Fannie Mae Form 1004 ...... $595
Individual Condominium Unit Fannie Mae Form 1073 ...... $495
Single Family Residence Drive-by Fannie Mae Form 2055 ...... $450
Individual Condominium Drive-by Fannie Mae Form 1075 ....... $450
Small Residential Income Property Fannie May Form 1025 ... $1,395 & Up
(Narrative Summary Reports)
Estate Sized Residential Properties ............................................ $1,195 & Up
Commercial Appraisals (Narrative Summary Report) ................ $2,500 & Up
Vacant Commercial Land (Narrative Summary Report) ............. $2,000 & Up
After learning more about the specific property you want appraised, the purpose of your appraisal and when you need it, I’ll be able to quote you a firm price for doing all the required work. This quoted price may be more or less than pricing shown in the guideline above. It all depends upon the amount of research necessary and the scarcity or abundance of acceptable comparable sales data.
At times I may have already completed a considerable amount of recent general research for another comparable property in your area and the additional research time for your property may be less than what these price guidelines have been forulated to allow. In these cases I can quote you a price below the guideline level. At the same time, on unique buildings or sites with multiple buildings, where there are no comparable sales in the market area, considerable new research has to be done. This often takes me outside the immediate area and forces me to find comparable properties in other locations where locational differences must be quantified and reconciled. In these cases the guidelines do not cover unusually long research times or out-of-area travel times. The price quoted may thus be more than what the guideline suggests.
When testifying as an expert witness in a deposition, arbitration hearing, or a trial, my time is billed at $125 per hour portal to portal with a four hour per day minimum plus $0.50 per mile travel allowance.
I follow the standard industry practice of collecting the full agreed-upon price for all my appraisals at the time I perform the initial property inspection unless I’m working for one of my regular customers to whom I send monthly bills
Appraisal Fees