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Avatar for OmniKey Realty
OmniKey Realty
3.7(
16
)
Appraisal - Real Estate

Serving Denison, TX and surrounding areas

In business since 2006

Free estimates

Emergency services offered

"OmniKey Realty manages 2 of my properties and they do an amazing job. They have really done well communicating through there portal, which is very convenient. They hold the tenants accountable to their lease."
BBB
NARPM
Realtor/MLS
Recommended by76%of homeowners
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Property Appraiser questions, answered by experts

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.

Appraisals are not mandatory but are helpful for pricing accuracy and negotiation purposes.

Depending on the size of the home, the appraisal itself can take several hours. After the appraiser’s visit is complete, it can take between a few days and a few weeks to get the report back. This timeline is largely dependent on the appraiser’s workload, research requirements, efficiency, and other factors.

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, hire another appraiser to get a second opinion, or just move on to another offer that isn’t contingent on the buyer getting a mortgage or an appraisal inspection.

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 Denison, TX homeowners’ guide to property appraisals

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