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: Do appraisals usually come in high?

• <div><p>Appraisals can come in above or below the list price or offer price for a property, and where it falls depends on many factors. Those include the condition of the property, the location, and the age of the home, but often, the condition of the market is the biggest determining factor. Where demand is high for properties, buyers compete with each other for homes, which tends to drive up offer prices above where appraisals come in. Where demand is low, you&rsquo;ll often see the opposite happening.</p></div>

Q: Does a smart home increase property value?

• <div><p>A comprehensive smart home system can be really attractive to buyers and increase the value of your property. Components such as a smart security system, smart lawn and garden systems, and smart appliances can all drive up the value of your property.</p></div>

Q: How can I find a trustworthy appraiser?

• <div><p>Some appraisers hold a Member of the Appraisal Institute designation. This accolade is the highest credential property appraisers can earn. An MAI appraisal is typically used for commercial properties.</p><p>While your lender will likely recommend an appraiser, you can also hire a professional home appraiser on your own. Choose someone who is experienced in your type of residential property, and ensure they hold all of the necessary credentials that your state or region requires.</p></div>

Q: Do sellers usually lower their asking price after the appraisal?

• <div><p>In cases where an appraisal comes in lower than an offer price, sellers might opt to lower their asking price to meet the appraisal, especially if the market is slow, and replacing the offer with a higher one may take a long time. Sellers can also offer to make repairs to boost the appraised value, <a href="https://www.angi.com/articles/how-find-home-appraiser.htm">hire another appraiser</a> to get a second opinion, or just move on to another offer that isn&rsquo;t contingent on the buyer getting a mortgage or an appraisal inspection.</p></div>

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Book Value Appraisals

5.00(

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•Approved Pro

Book Value Appraisals

5.00(

)

•Approved Pro

10 years of experience

Free onsite estimate

Locally owned and operated real estate appraisal firm serving central and northeastern Illinois. We are experienced with all types of residential appraisals including single family units, 2-4 unit income properties, condominium, land appraisals, pre-listings, estate appraisals, bankruptcy and assessor related services, and more. Our priority is a high quality appraisal delivered in a quick turn around. Please call for availability outside of listed business hours.

Akrivis Real Estate Valuations

4.43(

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•Approved Pro

Akrivis Real Estate Valuations

Customers say: Quick response

1510 local quotes requested

7 years of experience

Welcome to the future of real estate valuation solutions with Akrivis. We combine innovation and evolving technology with our exclusive network of photography contractors to deliver accurate real estate valuations in less than five days. No stress, no fuss, just fast and reliable property values.

"Hired to do valuation of a manufactured home - not on land. Gave appraisal comparison properties included land. therefore not an accurate valuation. Thought salesperson understood nuance. "

Melissa P on October 2025

"Hired to do valuation of a manufactured home - not on land. Gave appraisal comparison properties included land. therefore not an accurate valuation. Thought salesperson understood nuance. "

Melissa P on October 2025

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Appraisal Real Estate Service

Land Surveying

Complete Home Inspection

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Book Value Appraisals

Book Value Appraisals

Akrivis Real Estate Valuations

Akrivis Real Estate Valuations

Book Value Appraisals

Book Value Appraisals

Phoenix Affiliates

Phoenix Affiliates

Donate To Vet's

Donate To Vet's

Debra Heger Appraisals

Debra Heger Appraisals

FLETCHER & CO APPRAISERS

FLETCHER & CO APPRAISERS

MC ATEE APPRAISAL SVC

MC ATEE APPRAISAL SVC

McQuellon Consulting Inc

McQuellon Consulting Inc

NEFF Valuation Group

NEFF Valuation Group

The Goodfield, IL homeowners’ guide to property appraisals

Appraised vs. Market Value: What’s the Difference?

Who Does Home Appraisals?

What Is a Home Appraisal and Why Does It Matter?

Who Pays For the Home Appraisal?

How Do Appraisers Determine the Value of a Home?

What Is a Land Appraisal and How Does It Work?

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