Your home appraisal fee in Northern Virginia is technically part of your closing costs, but it is usually billed to you separately, so you shouldn’t expect to pay for it as part of the cash you owe at settlement.
How Much is the Home Appraisal Fee?
Your appraisal will typically run you about $400 to $500. If you’re getting a loan, your lender requires that you get an appraisal, but you’re the one who pays for it. My article about home appraisals goes into more detail about what you should expect from this process. Your lender will take care of the logistics of the appraiser billing you for the appraisal report, and you can typically pay the home appraisal fee by credit card or other common methods of payment.
Regardless of whether or not you pay cash for your home or get a loan, it’s always a good idea to get an appraisal, unless you’re purposely waiving the appraisal as a strategic move to get a better deal on the property and to beat out other buyers in a bidding war. Even then, I would think twice about waiving your appraisal.
It’s also a good idea to order an appraisal before your sell your home, as it gives you a much more specific idea of market value. This will help you avoid the pitfall of overpricing your property.
Are you considering buying a home in Northern Virginia, but you’re overwhelmed by all of the options that are available? Email me at DarrenRobertsonHomes@gmail.com for a list of the top 10 deals in the city or county of your choice!
Contact me to find out more about how I will pay for your home appraisal fee if we choose to work together when you sell your home!