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Avatar for Gucciardo Real Estate Group
Gucciardo Real Estate Group
5.0(
25
)
Appraisal - Real Estate

Serving Mayfield, NY and surrounding areas

In business since 2002

Free estimates

Emergency services offered

"My husband and I were recently blessed to have Anthony work with us in selling our home, as well as well as Theresa, one of company's agents, worked so aggressively to find us our new beautiful home. Every step of the way, was at such a personal level, understanding our needs, tolerating my stress, and always responding personally, no matter how big or small the question or situation. They were just amazing with us. We are so thankful for Anthony and Theresa, to make what we thought was going to be one of the most stressful times in our lives, to be literally one of the most exciting and enjoyable times for us !! You guys rock !! ❤️George & Carrie Parker"
Recommended by100%of homeowners
Avatar for Marketplace Housing
Marketplace Housing
4.3(
11
)
Appraisal - Real Estate

Serving Mayfield, NY and surrounding areas

In business since 2003

Free estimates

Emergency services offered

"Office staff is always available for help. No job is too small or too big. They are responsive to our needs for service requests from roofing to foundations. All aspects of home repairs have been done professionally and in a timely manner. I would recommend Marketplace Homes for all your property management needs regarding property repairs and maintenance."
Recommended by77%of homeowners
Property Appraiser questions, answered by experts

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.

Your home insurance company may allow you to use an appraisal instead of an inspection when you apply for coverage. Keep in mind that despite this, an appraisal is far less detailed than the different types of home inspections available and may not reveal potential risks that you’ll want to know about.

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.

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.

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

The Mayfield, NY homeowners’ guide to property appraisals

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