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Property Appraiser questions, answered by experts

The purpose of the home appraisal determines which party pays for it. You’re generally responsible for the cost if you need to know the current value of your home to refinance your mortgage, though in some instances the lender will pay for it. The buyer pays for the appraisal when they are applying for their mortgage.

Costs depend on the property size, audit complexity, and whether additional testing (e.g., blower door) is included.

Yes, appraisals are often used for property tax appeals, estate planning, and determining market value.

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.

In most cases, you can expect home automation to boost your home value. This technology makes the homeowner’s life easier and more comfortable, and some provide increased safety and protection. Buyers will likely recognize value in security systems and utility monitors, as well as comfort-focused upgrades that save on electric bills while keeping interior rooms at the desired temperature and humidity. On average, you can expect a 50% and 75% return on investment on home automation services, and potentially even more if the automation reduces homeowner’s insurance.

The Galloway, TX homeowners’ guide to property appraisals

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