Find out home appraisal costs for purchase, refinance, and estate purposes in 2026. What appraisers look for. Free guide.
Home appraisals cost $300-$600 for most residential properties — a required step in almost every mortgage transaction. The appraisal determines whether a lender will fund a loan and at what amount. Understanding what appraisers look for and how to prepare your home can prevent a low appraisal from derailing your sale or refinance.
Appraisal fees by purpose: Standard purchase appraisal (lender-ordered): $350-$550 average. Refinance appraisal: $300-$500. Jumbo loan appraisal (over $726,200): $500-$1,000 — often requires two appraisals. Estate appraisal for tax purposes: $300-$600. Pre-listing appraisal (seller-ordered): $300-$600 — helps price accurately. Rural property: $500-$900 — harder comparable sales. Multi-family (2-4 units): $600-$1,200.
Key appraisal factors: Location: neighborhood quality, school district, proximity to amenities. Lot size and features. Square footage: measured independently. Bedroom and bathroom count. Condition: functional systems, roof, foundation, deferred maintenance. Updates and renovations. Garage or parking. Comparable sales: 3-5 recent sales within 1 mile and 6 months. Items hurting value: deferred maintenance, functional obsolescence, poor curb appeal.
Low appraisal scenarios: Yes — occurs when comparable sales do not support agreed purchase price. Options when appraisal is low: Buyer and seller negotiate to appraised value. Buyer pays difference in cash (above appraised value). Request second appraisal (at buyer's expense). Challenge appraisal with additional comparables. Walk away if inspection contingency included contract. Most common resolution: price reduction to appraised value to save the deal.
Pre-appraisal preparation: Make minor repairs: fix leaky faucets, broken windows, loose door handles. Improve curb appeal: mow lawn, trim bushes, add flowers. Clean and declutter: appraiser notes overall condition. List all improvements: provide dated list of updates with costs. Provide recent comparable sales: if you know of relevant nearby sales appraiser may not have used. Be present but do not follow appraiser — let them work.
Appraisal timeline: On-site inspection: 30 minutes to 2 hours depending on home size and complexity. Report completion: 3-7 business days after inspection. Rush appraisal: $100-$200 premium for 24-48 hour report. Lender receiving report: same day or next business day after completion. Total from order to receipt: typically 1-2 weeks. Appraisal is valid for 120 days for most loans.
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