How much do appraisals cost by home type?

• <div><p>The cost to appraise a home depends on the type. Common types include:</p><ul><li><p>Single-family homes: $300–$400</p></li><li><p>FHA or VA single-family homes: $400–$500</p></li><li><p>Condominium: $300–$500</p></li><li><p>Multi-family home: $500–$1,000</p></li><li><p>Apartment building: $1,500–$3,000</p></li><li><p>Commercial properties: $1,400–$10,000</p></li><li><p>Raw land: $1,000–$8,000</p></li></ul><p></p></div>

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Q: Can siding orientation affect a home’s resale value?

• <div><p>Yes, siding orientation can affect a home&rsquo;s resale value, but in what way and by how much really depends on the prospective buyer. For instance, some buyers prefer the more modern appearance that vertical siding offers, so having it can increase your home&rsquo;s value in their eyes. However, other buyers prefer the classic, more common appearance of horizontal siding, so having vertical siding can decrease your home&rsquo;s value in their eyes. </p></div>

Q: Does a seller have to disclose fire damage when selling a house?

• <div><p>Yes, a seller is legally required to disclose any known fire damage when selling a house, including damages that were repaired. That includes damages to structural components and all major systems, as well as water damage, chemical damage, and smoke damage related to the fire. Sellers use a property disclosure statement, which is regulated by each state individually, to disclose fire damage. </p></div>

Q: Does a carport add value to your home?

• <div><p>While installing a carport will have only a slight, if any, bearing on increasing the selling price of your home, simply having a high-quality and well-maintained carport can improve the selling appeal to would-be house buyers. However, a poorly-maintained carport in disrepair can have the opposite effect and hurt the home's sales appeal.</p></div>

Q: What should you do if the appraisal is lower than the offer?

• <div><p>Unless the buyer or seller makes the offer or offer acceptance contingent on the appraisal results, the sale will move forward unaffected if the appraisal comes back lower than the offer. This essentially means the buyer is paying more than what the home is worth, but without that contingency, both parties are locked into the deal. Some buyers may try to negotiate the purchase price down to the appraisal value, but this may not be possible if there wasn&rsquo;t an appraisal contingency in the offer agreement.</p></div>

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Chuck Whitson Realtor

Chuck Whitson Realtor

First Star Realty

First Star Realty

All Star Real Estate

All Star Real Estate

CreditGuard of America

CreditGuard of America

Property Management Inc. NW Arkansas

Property Management Inc. NW Arkansas

OZARK GATEWAY REALTY (OGW LLC)

OZARK GATEWAY REALTY (OGW LLC)

Kelly Lewis Real Estate

Kelly Lewis Real Estate

The Human Property Group

The Human Property Group

Walker Realty

Walker Realty

22 S. Real Estate Service

22 S. Real Estate Service

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