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Mid America Land Services

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Mid America Land Services

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Jim has spent over 25 years as a real estate broker, loan broker, and real estate appraiser. Prior to this, he worked with a mortgage banking company as well as the Federal Land Bank. He served for three years as a member of the Missouri Real Estate Appraisers Commission.

Jim has spent over 25 years as a real estate broker, loan broker, and real estate appraiser. Prior to this, he worked with a mortgage banking company as well as the Federal Land Bank. He served for three years as a member of the Missouri Real Estate Appraisers Commission.


Property Appraiser questions, answered by experts

The cost to appraise a home depends on the type. Common types include:

  • Single-family homes: $300–$400

  • FHA or VA single-family homes: $400–$500

  • Condominium: $300–$500

  • Multi-family home: $500–$1,000

  • Apartment building: $1,500–$3,000

  • Commercial properties: $1,400–$10,000

  • Raw land: $1,000–$8,000

While parts of the appraisal are out of your control, there are some things you can do to potentially raise the home’s value. You can make necessary repairs and upgrades before the appraiser visits—an appraiser can only value what is currently part of the home, not its potential. You can also provide the appraiser with the cost of recent upgrades. The appraiser will likely increase the value of your home by about 50% or more of what you paid for those improvements.

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.

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.

In most cases, selling a home in as-is condition will lead to a sale price that’s somewhere between 10% and 30% lower than normal. However, it’s often worthwhile to sell at a loss because the alternative would be to pay for the repairs yourself, which could end up costing you more. Even if they didn’t, selling as-is saves you from the time and energy you’d spend coordinating the repairs.

Typically during transactions or refinancing, or whenever significant improvements are made.

The Hallsville, MO homeowners’ guide to property appraisals

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