Choosing the right appraisal report
Appraisal fees depend on the property, the assignment purpose, the intended use, the reporting format, and the level of analysis required. This guide explains the main report options so you can request the right scope of work.
Report Type
The format should match the intended use.
Complexity
Unusual properties require more analysis.
Site Visit
The scope may or may not include a physical visit.
Purpose
Legal, IRS, FEMA, and lending work differ.
The fee should reflect the assignment, not just the form.
A simple value question may not need the same level of reporting as a divorce, estate, FEMA 50% Rule, IRS, lending, or appraisal review assignment.
The best starting point is to identify who will use the appraisal, why it is needed, whether a physical site visit is necessary, and how much explanation is required in the report. The scope of work and fee can then be matched to the actual risk, complexity, intended use, and reporting needs of the assignment.
Common residential appraisal report types
Narrative or Full Summary Level Form Report with Narrative Supplement
This option is appropriate when the intended use requires a higher level of reporting, explanation, and market support. The report may be prepared as a narrative appraisal report or as a full summary level form report with supplemental narrative discussion, depending on the assignment type and client needs.
- Lending assignments
- IRS and estate matters
- Divorce and litigation use
- FEMA 50% Rule assignments
- Complex or high value properties
Restricted Appraisal Report
A restricted appraisal report may be appropriate when the client is the only intended user and does not need the same level of detail found in a full appraisal report. This option is not appropriate for every assignment and should only be used when the intended use supports a more limited reporting format.
- Personal decision support
- Owner or investor use
- Limited reporting needs
- Not typically appropriate for lending
- Not ideal for formal third party use
What can affect the appraisal fee?
Each appraisal fee is developed specifically for the property and assignment. The fee is based on the scope of work, the property characteristics, the relevant amount of market data available for the property and its submarket, and the overall reporting requirements.
Reporting type
The reporting option selected affects the fee. A full narrative or summary level form report with narrative supplement typically requires more explanation, support, and documentation than a restricted appraisal report.
Level of detail
The amount of analysis and explanation depends on the intended use, intended users, property type, market data, and assignment conditions. Legal, IRS, FEMA, lending, estate, divorce, and review assignments may require more detailed support.
Physical site visit
Some assignments require a physical site visit where the appraiser observes the property. In other cases, depending on the intended use and assignment conditions, it may be possible to develop a scope of work that does not include a physical visit.
Fees are quoted after the assignment is understood.
Appraisal fees can vary based on the property, location, timing, intended use, scope of work, amount of market data, and reporting requirements. Unique properties, legal matters, retrospective effective dates, FEMA related assignments, limited comparable data, or expedited timelines may result in adjusted pricing to account for the additional time and analysis involved.
Request a Free QuoteHelpful pages before ordering an appraisal
The Appraisal Process
Learn what to expect before, during, and after the appraisal visit.
View Process
Choosing an Appraiser
Review what credentials, experience, and reporting factors should be considered before hiring an appraiser.
Read Guide
Appraisal FAQs
Review common questions about appraisal timing, fees, property visits, and report delivery.
View FAQsRequest your free property valuation quote
Call, text, or send the property address and appraisal purpose. I’ll let you know which report option is appropriate, what information is needed, and what the expected fee and timing would be.
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