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Avatar for Edge Home Finance
Edge Home Finance
5.0(
27
)
Appraisal - Real Estate

Serving Maple Lake, MN and surrounding areas

In business since 2011

Free estimates

Emergency services offered

"We worked with Tom at Edge Home Finance after our first lender gave us some difficulty with the appraisal. Tom coordinated a new appraisal and had the loan ready to close in record time. There weren't any snags in the underwriting process and communication was fast and accurate."
Recommended by100%of homeowners
Avatar for Mauzy Properties
Mauzy Properties
5.0(
5
)
Appraisal - Real Estate

Serving Maple Lake, MN and surrounding areas

Free estimates

Emergency services offered

"I have worked with other management companies in the Twin Cities and NONE compare to the team at Mauzy. The value of their services is superior to the others. They are personable, responsive, accurate, and helpful. The most important thing when hiring a management company is their ability to attract quality tenants and keep them happy. Mauzy is a fantastic partner to my business and I can not recommend them enough. Save your time and money and make Chris and his team your first call."
Recommended by100%of homeowners
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Property Appraiser questions, answered by experts

Around 1-2 weeks, including inspection and reporting time for an official evaluation.

As a seller, it might feel tempting to skip the appraisal, especially in a hot market that sees a lot of all-cash offers. While you can technically forgo it and hope for an all-cash offer, you’ll likely have a very tough time selling without an appraisal. 

In addition to protecting lenders from risk, appraisals also protect buyers’ investments. As such, it isn’t typically recommended for buyers to skip appraisals.

The differences between market value and appraised value depend on the local market, so they can match, or either one can be higher than the other. In a “seller’s market,” where there is an abundance of buyers, market value will likely sit higher than the appraised value because there’s more demand for the low inventory of homes. In a “buyer’s market,” where there are more homes than there are buyers, the market value is more likely to sit below the appraised value to entice buyers.

The entire appraisal process takes from seven to 10 days. This timeline accounts for the many steps of the appraisal process, including the post-inspection report completed by the appraiser.

Home appraisal services include the following tasks:

  • Inspect home interior and exterior

  • Evaluate materials, features, fixtures, and renovations

  • Review comparable properties

  • Write an appraisal report

The average cost for a home or property appraisal is about $355, with prices typically ranging from $250 to $500. The final cost is influenced by several factors, including the property's size, age, location, and how it compares to other homes in the area. Appraisals for larger, older, or non-conforming properties often cost more. While a single-family home appraisal usually costs between $300 and $400, appraising a multi-family home can range from $500 to $1,000 due to its increased size and complexity.

The Maple Lake, MN homeowners’ guide to property appraisals

From average costs to expert advice, get all the answers you need to get your job done.