Types of appraisal assignments for Residential Appraisers in Florida
1. Single-Family Home Appraisal
This is the most common type of appraisal, where the value of a single-family residence is determined. It involves assessing the property’s condition, location, size, and features to estimate its market value.
Estimated Fee: $350 – $600
2. Refinance Appraisal
Performed when a homeowner seeks to refinance their mortgage. The appraiser evaluates the property to ensure its value supports the new loan amount. This helps lenders confirm they are lending an appropriate amount based on the property’s worth.
Estimated Fee: $400 – $700
3. Purchase or Sale Appraisal
Conducted to determine the fair market value of a home during a property transaction. It provides buyers and sellers with an unbiased estimate of the home’s worth to facilitate a fair deal.
Estimated Fee: $350 – $650
4. Estate or Probate Appraisal
Used when settling an estate or during probate proceedings, this appraisal determines the current market value of a property for legal and tax purposes.
Estimated Fee: $400 – $750
5. Tax Assessment Appeal Appraisal
Assists homeowners in challenging property tax assessments by providing an independent valuation that may lower property taxes.
Estimated Fee: $300 – $600
6. Insurance Valuation Appraisal
Evaluates the replacement cost or insurable value of a home to ensure adequate coverage in case of damage or loss.
Estimated Fee: $350 – $600
7. Rehabilitation or Renovation Appraisal
Provides an estimate of a property’s value after planned improvements or repairs, helping homeowners and investors understand potential increases in worth post-renovation.
Estimated Fee: $400 – $800
8. Foreclosure or REO (Real Estate Owned) Appraisal
Performed for lenders or banks when properties are in foreclosure or owned by banks, helping determine their current market value for sale purposes.
Estimated Fee: $350 – $700
Note: Fees can vary depending on property size, location, complexity, and specific client requirements.
