To get your house appraised, hire a state-licensed or state-certified appraiser directly, or, if a mortgage is involved, let your lender arrange one through an independent third party. The appraiser measures the home, evaluates its condition, compares it to recent nearby sales, and delivers a written opinion of market value. Scheduling to final report usually runs one to three weeks, and the fee typically falls between $300 and $600 depending on size, location, and complexity.
Decide Which Path Applies to You
Mortgage lenders require an appraisal for most home purchases and refinances to confirm the property is worth enough to secure the loan. When a mortgage is involved, you don’t pick the appraiser. Lenders coordinate the work through an Appraisal Management Company, which selects an appraiser from a vetted panel. Federal law prohibits anyone with a financial interest in the transaction from pressuring the appraiser to hit a particular value.1Office of the Law Revision Counsel. 15 U.S.C. 1639e – Appraisal Independence Requirements
Plenty of homeowners order appraisals without a lender in the picture: setting an asking price for a private sale, dividing property in a divorce, settling an estate, challenging a property tax assessment, or resolving an insurance dispute. In those situations, you hire the appraiser yourself and negotiate the fee directly.
Find and Verify a Qualified Appraiser
Federal law under the Financial Institutions Reform, Recovery, and Enforcement Act requires appraisers working on federally related transactions to hold state-issued credentials and pass a national examination.2Office of the Law Revision Counsel. 12 U.S. Code 3345 – Certification and Licensing Requirements States set their own criteria on top of minimums established by the Appraiser Qualifications Board: at least 1,000 hours of supervised experience for a licensed residential appraiser and 1,500 hours for a certified residential appraiser.3The Appraisal Foundation. Real Property Appraisal
The credential level matters for what the appraiser can legally handle. A licensed appraiser can take non-complex residential properties in transactions under $1,000,000. A certified appraiser is required for all transactions of $1,000,000 or more, and for complex residential appraisals when the transaction exceeds $400,000.4eCFR. 12 CFR 34.43 – Appraisals Required; Transactions Requiring a State Certified or Licensed Appraiser Unusual homes such as mixed-use properties or those with significant deferred maintenance may be classified as complex, which can trigger the certified requirement below that dollar threshold.
Whether the lender assigns the appraiser or you hire one yourself, verify current license status, credential history, and any disciplinary record through the Appraisal Subcommittee’s National Registry. It’s a free federal database that covers every state.5ASC.gov. National Registries Confirming good standing before the appraiser starts work protects the legal weight of the finished report, which matters especially for tax appeals, estate work, and divorce.
Prepare Before the Visit
What you provide the appraiser before and during the visit shapes how accurately they capture your home’s value. Preparation falls into two categories.
Documents to Have Ready
Pull together records that verify the property’s legal status and improvement history:
- A recent land survey showing boundaries, lot size, and easements.
- Property tax records confirming assessed value and legal description.
- HOA documents, if applicable, showing dues, special assessments, or restrictions.
- Receipts, permits, and contractor invoices for major upgrades such as a roof replacement, kitchen remodel, HVAC installation, or new windows. Building permits are especially useful because they prove the work was done to code.
- Energy efficiency documentation for solar panels, upgraded insulation, or efficient systems. The Appraisal Institute publishes a standardized Residential Green and Energy Efficient Addendum designed to communicate these features to appraisers.
This paperwork lets the appraiser verify age and quality rather than guess from a visual check. A recent roof replacement with a transferable warranty carries more weight than an older roof that merely looks intact.
Physical Access
The appraiser needs to reach every part of the home. Before the visit:
- Clear paths to the attic, crawl space, furnace, and water heater.
- Unlock sheds, garages, and outbuildings.
- Secure or remove pets so the appraiser can move through freely.
- Address small maintenance items. A dripping faucet, cracked switch cover, or peeling paint can suggest larger deferred maintenance.
- Make sure utilities are on so systems can be tested.
You don’t need to stage the home the way you would for a showing. Appraisers focus on structural condition and permanent features, not décor. A clean, well-maintained appearance does signal that the home has been cared for, which can influence the overall condition rating.
What Happens During the Inspection
The on-site visit typically takes 30 minutes to a few hours depending on the property. The appraiser measures the outside of the home to calculate gross living area, then walks through every room to evaluate layout, condition, and finish quality. They photograph the kitchen, bathrooms, main living areas, bedrooms, and any below-grade finished and unfinished spaces, along with visible deterioration or recent updates.6Fannie Mae. Appraisal Report Forms and Exhibits
Beyond photographs, the appraiser notes:
- Major systems: heating, electrical, and plumbing, checking that each is functional and in reasonable condition.
- Structural integrity: foundation cracks, water damage, sagging floors, or roof issues.
- Interior finishes: flooring, countertops, cabinetry, and trim quality.
- External features: decks, patios, pools, fencing, and landscaping.
The materials and workmanship observed throughout the home produce a quality rating on a scale from Q1 (exceptional, custom materials) through Q6 (basic or economy-grade construction).7Fannie Mae. Uniform Appraisal Dataset Condition and Quality Rating Definitions A separate condition rating is assigned as well. Both feed directly into the final value.
How the Value Is Calculated
After leaving the property, the appraiser researches recent sales of comparable homes, commonly called “comps,” in the surrounding area. The standard report includes a grid comparing at least three comparable sales to your home.8Fannie Mae. Uniform Residential Appraisal Report For each comp, the appraiser adjusts the sale price up or down to account for differences in size, age, condition, lot size, location, and features. If a comp has a pool and your home doesn’t, that value comes off the comp’s price. If your kitchen is newer, value gets added.
This sales comparison approach is the primary method for residential appraisals. The appraiser weighs the adjusted comp prices to arrive at a single opinion of market value, factoring in whether prices in the neighborhood are rising, falling, or stable.
Receiving the Report and How Long It’s Good For
The complete report typically arrives within one to two weeks of the inspection. It includes the property description, neighborhood analysis, comparable sales grid, and the appraiser’s final opinion of value.
If a lender ordered the appraisal, the lender is the technical client, but federal regulations under the Equal Credit Opportunity Act require the lender to provide you a copy promptly after completion, or at least three business days before the loan closes, whichever comes first.9Consumer Financial Protection Bureau. 1002.14 Rules on Providing Appraisals and Other Valuations You can waive that three-day timing, but the waiver itself must be signed at least three business days before closing. If the loan falls through, the lender must still deliver the report within 30 days.10eCFR. 12 CFR 1002.14 – Rules on Providing Appraisals and Other Valuations
Reports don’t last forever. For Fannie Mae-backed loans, the appraisal must be dated within 12 months of the note date. If it’s more than four months old but less than 12, the lender must obtain an appraisal update, a shorter re-inspection confirming the original value still holds. Beyond 12 months, a completely new appraisal is required.11Fannie Mae. Appraisal Age and Use Requirements For a privately ordered appraisal, no universal expiration applies, but the report’s usefulness diminishes as market conditions shift.
What It Costs
A standard single-family home appraisal typically runs $300 to $600, though prices vary by region, property size, and complexity. Larger homes, rural properties, and multi-unit buildings tend to cost more because they demand more time and research. Expedited delivery on a 24-to-48-hour turnaround often carries a rush fee that can add $150 to $200.
In a mortgage transaction, the borrower usually pays the fee upfront or through closing costs. Canceling after the inspection has already been completed generally means owing the full fee. For a privately ordered appraisal, you negotiate the fee with the appraiser before the work begins.
If the Value Comes In Low
A low appraisal can derail a purchase or limit a refinance because the lender bases the loan amount on the appraised value, not the contract price. Your first move is usually a Reconsideration of Value, a formal request submitted through the lender rather than to the appraiser directly. Fannie Mae allows one ROV request per appraisal report.12Fannie Mae. Reconsideration of Value (ROV) An ROV is a factual challenge, not an appeal based on opinion. To make it work, identify specific problems:
- Factual errors such as incorrect square footage, wrong bedroom or bathroom count, missing rooms, or an inaccurate lot size.
- Questionable comparables that are outdated, from a different neighborhood, or materially different from your home in size or condition.
- Missing improvements the appraiser overlooked or didn’t have documentation for during the visit.
The appraiser decides whether the evidence warrants a value change. There’s no guarantee the number will move.
If the ROV doesn’t close the gap, you can negotiate with the seller to lower the price, bring additional cash to cover the difference, or use an appraisal gap clause in the purchase contract committing the buyer to a specified shortfall out of pocket. In competitive markets, buyers sometimes build that clause in upfront to strengthen an offer. Ordering a second appraisal at your own expense is possible too, but lenders aren’t required to accept the new value.
When a Full Appraisal Isn’t Required
Not every transaction runs through a traditional in-person appraisal. A desktop appraisal uses public records, MLS data, and other available information instead of an interior inspection. Fannie Mae permits desktop appraisals for purchase transactions on single-unit principal residences with a loan-to-value ratio of 90% or less, provided the loan receives automated underwriting approval. Condos, co-ops, manufactured homes, multi-unit buildings, investment properties, second homes, and all refinances are ineligible.13Fannie Mae. Desktop Appraisals Desktop appraisals cost less but carry more risk that condition issues go undetected.
For certain loan profiles, Fannie Mae’s automated underwriting may offer a “value acceptance,” effectively an appraisal waiver where no appraisal is required at all.14Fannie Mae. Value Acceptance If you receive a waiver offer, you can still choose to get a full appraisal, and that can be the wiser move when the home’s condition has changed significantly since its last recorded sale.
One boundary worth naming: the free online estimates produced by Automated Valuation Models. Banks and real estate platforms use AVMs for preliminary snapshots, but an AVM cannot replace a formal appraisal for most federally related transactions. There’s no physical inspection, no recognition of recent renovations, and no accounting for the specific condition of your property. It’s a starting point for approximate value, not a substitute for a licensed appraiser’s report.