Each appraisal is developed for a specific use and for a specific user. The scope and level of reporting may vary depending on the intended use. Fees vary based on the complexity of the assignment and are generally lower for residential properties as market data is abundant for comparison. Appraisals for non-residential properties are more involved and time consuming. After reviewing some basic property information and the intended use of the report, a fee quote will be provided promptly. The fee is not based on the size of the report! Most of our time (and the fee) is spent compiling, confirming and analyzing market data
Appraisals for mortgage loan purposes must be ordered by the lending institution. This is a regulatory requirement. The lender is the appraiser’s client.